AC formalizes Gogoro venture

Ayala Corp. said is venturing into distribution and after-sales service for electric scooter (e-scooter) Gogoro.

The conglomerate said it is putting up a $8.5 million joint-venture, Gogoro Philippines Inc. with Nasdaq-listed Gogoro Inc. for the importation, sale, distribution, operation, management and maintenance of Gogoro two-wheeled e-scooters, with battery swapping technology, battery swapping stations for the e-scooters.

917Ventures, a unit of Ayala unit Globe Telecoms Inc., will also be part of the venture, with Ayala owning 21 percent, Gogoro with 30 percent, and the rest by 917Ventures.

Gogoro’s ownership is folded into unit Gogoro Network Pte Ltd (Gogoro SG).

Gogoro SG developed the battery-swapping refueling platform for urban electric two-wheeled scooters, mopeds, and motorcycles, and has its own line of e-scooters.

Under the arrangement, Gogoro Philippines will be responsible for the importation, sale, distribution, operation, management and maintenance of two-wheeled e-scooters with battery swap technology under the Gogoro brand, battery swapping stations for e-scooters and after-sales services business, which may include the importation and distribution of other e-scooter brands that are compatible with the battery swapping stations, in the Philippines.

“Ayala has prioritized the electric mobility space as an area of growth – with interests in the entire EV ecosystem, including two-wheeled and four-wheeled electric vehicles, charging infrastructure, and the overall customer lifestyle,” the company said.

“Recent developments in the global EV industry as well as in the local regulatory landscape have affirmed our belief that the transition to EVs is well underway, and that the market in the Philippines is prime for disruption,” it added.