Taiwanese scooter and battery maker Gogoro increases PIPE funding to US$285 million ahead of SPAC listing
- Gogoro adds India’s Hero MotoCorp, impact fund Engine No 1 to PIPE funding round
- Taipei based Gogoro agreed to go public via a blank cheque company in September
Taiwanese smart scooter and electric battery maker Gogoro said it added Indian scooter maker Hero MotoCorp, American impact investing fund Engine No 1 and another investor in its latest funding round, as it prepares to go public via a special purpose acquisition company (SPAC) later this year.
“Gogoro is transforming urban mobility in the world’s most densely populated cities by changing how people use and share portable energy and we are well positioned to transform the urban mobility landscape and capitalise on the electric transition of more than a half-billion two-wheel vehicles in Asia,” said Horace Luke, Gogoro’s founder, chairman and CEO.
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“Our investment in Gogoro’s PIPE is in keeping with our vision – ‘Be the Future of Mobility’,” said Pawan Munjal, Hero MotoCorp’s chairman and CEO. “We are already partnering with Gogoro to bring modern electric vehicles and its battery swapping network to India and other global markets.”