HANGZHOU, China, Oct. 10, 2021 /PRNewswire/ -- Gogoro®, a
global technology leader in battery swapping ecosystems that enable
sustainable urban mobility, today launched its leading battery
swapping system in China, the
largest two-wheel vehicle market in the world. Gogoro is partnering
with China's leading
vehicle makers, Yadea and Dachangjiang (DCJ) to introduce the new
Gogoro-powered Huan Huan battery swapping brand, first in
Hangzhou and to additional cities
in 2022. The partnership brings together three industry leaders
that share a vision for the future of sustainable two-wheel
transportation in China and are
committed to establishing smart infrastructure that will enable its
urban growth.
Yadea, DCJ, and Gogoro partner to unveil Gogoro battery swapping in
China.
"Yadea, DCJ, and Gogoro have partnered to take electric
two-wheel transportation in China
to a new level of sustainability, reliability, and safety.
Together, we are introducing the new Huan Huan battery swapping
brand that utilizes Gogoro's world-leading battery
swapping system, together with new vehicles from Yadea and DCJ,"
said Horace Luke, founder, and
CEO, Gogoro Inc. "Today's launch in
China, the world's
largest two-wheel market with more than 300 million riders, is a
key milestone for all cities. By working with Yadea, the
world's leading electric two-wheel maker, and DCJ,
China's largest gas
two-wheel maker, we are making safe and convenient electric
mobility accessible to people in Hangzhou
China today and in the future to hundreds of millions of
urban riders in China and around
the world."
Gogoro's battery swapping ecosystem is an
established leader for electric refueling of lightweight urban
vehicles and key to Gogoro's partnership with Yadea
and DCJ, both companies are developing a range of two-wheel
vehicles built for the Gogoro battery swapping platform.
Yadea, the #1 electric two-wheel maker in the world, today
unveiled two new Gogoro-powered vehicles that utilize Gogoro
battery swapping that are available in Hangzhou today.
"As a global leader in electric two-wheel vehicles,
Yadea is creating innovative vehicles that enable greener
transportation choices that are more innovative, safer, and
environmentally friendly. We also are committed to delivering the
best electric refueling possible. Gogoro's leading
battery swapping system delivers a new standard for electric
refueling that reduces consumer anxiety in battery life and range,
battery availability and overall usage costs," said Dong
Jinggui, chairman, Yadea Technology Group Co. Ltd.
"With Huan Huan's launch of
Gogoro's battery swapping system in Hangzhou, we are unveiling two new vehicles as
part of a larger portfolio of Gogoro-powered vehicles. Together, we
are changing the future of green transportation in China and we are looking forward to expanding
to several new cities in 2022."
DCJ, the #1 gas-powered two-wheel maker in China, also demonstrated its first electric
two-wheel prototype that integrates Gogoro battery swapping and is
expected to be available in 2022.
"Dachangjiang is committed to embracing the
national strategic goal of peak emissions and carbon neutrality to
reduce overall emissions and we are investing significantly in
developing new innovative electric vehicles that utilize
Gogoro's leading battery swapping system," said
Li Jianjun, executive director of
the board, Jiangmen Dachangjiang Group Co., Ltd. (DCJ).
"Huan Huan's launch of
Gogoro's battery swapping system in Hangzhou is a significant step in establishing
a new era in electric refueling and we look forward to offering new
vehicles in Hangzhou and expanding
to new cities in 2022."
Climate Commitments Spark EV Growth
As the largest
investor, producer, and consumer of renewable energy, China has made significant climate change
plans. It has established new regulations for electric two-wheel
vehicles that are expected to retire 270 million vehicles that
don't meet new quality and safety requirements by
2025. Some local city governments are also instituting new electric
refueling and battery regulations to ensure safer and easier
electric refueling for riders in cities.
Gogoro Network
The Gogoro Network is an open platform
for battery swapping and smart mobility services, delivering a
fresh alternative to legacy fuel. Gogoro Network creates a new
generation of swappable battery refueling that is smart, scalable,
and continually optimizing itself to be dynamic and versatile for
people, communities, and businesses. The Powered by Gogoro Network
Program gives Gogoro's vehicle maker partners like
Yadea and DCJ access to Gogoro innovations including its
intelligent drivetrains and controllers, components, and smart
systems, so they can develop and roll out unique electric
vehicles that integrate with Gogoro Network battery swapping.
Gogoro to List on The NASDAQ
In September 2021, Gogoro announced it was listing
on the NASDAQ through a merger with Poema Global Holdings Corp.
(Nasdaq: PPGH), a special purpose acquisition company. The
transaction is expected to be completed in the first quarter of
2022 and once completed, the combined company will be named Gogoro
Inc. and will be listed on the Nasdaq under the ticker symbol
"GGR."
About Gogoro
Founded in 2011 to rethink urban energy
and inspire the world to move through cities in smarter and more
sustainable ways, Gogoro leverages the power of innovation to
change the way urban energy is distributed and consumed.
Gogoro's battery swapping and vehicle platforms offer
a smart, proven, and sustainable long-term ecosystem for delivering
a new approach to urban mobility. Gogoro has quickly become an
innovation leader in vehicle design and electric propulsion, smart
battery design, battery swapping, and advanced cloud services that
utilize artificial intelligence to manage battery availability and
safety. The challenge is massive, but the opportunity to disrupt
the status quo, establish new standards, and achieve new levels of
sustainable transportation growth in densely populated cities is
even greater. For more information, visit
www.gogoro.com/news and follow Gogoro on Twitter:
@wearegogoro.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933,
as amended, or the Securities Act, and Section 21E of the U.S.
Securities Exchange Act of 1934 ("Exchange Act") that
are based on beliefs and assumptions and on information
currently available to Poema Global Holdings Corp.
("Poema Global") and Gogoro Inc.
("Gogoro"). In some cases, you can identify
forward-looking statements by the following words:
"may," "will," "could," "would," "should," "expect,"
"intend," "plan," "anticipate," "believe," "estimate,"
"predict," "project," "potential," "continue,"
"ongoing," "target," "seek" or the negative or plural of these
words, or other similar expressions that are predictions or
indicate future events or prospects, although not all
forward-looking statements contain these words. Any statements
that refer to expectations, projections or other characterizations
of future events or circumstances, including projections of
market opportunity and market share including in China, the ability of Gogoro's
business model to be successful in the future, future
products, the capability of Gogoro's technology,
Gogoro's business plans including its plans to
expand in China and globally, any
benefits of Gogoro's partnerships including its
partnership with Yadea and Dachangjiang, and
expectations related to the terms and the timing of the
proposed transaction between Gogoro and Poema Global are also
forward-looking statements. These statements involve
risks, uncertainties and other factors that may cause actual
results, levels of activity, performance or achievements to be
materially different from those expressed or implied by these
forward-looking statements. Although each of Poema Global and
Gogoro believes that it has a reasonable basis for each
forward-looking statement contained in this communication,
each of Poema Global and Gogoro caution you that
these statements are based on a combination of facts and
factors currently known and projections of the future, which
are inherently uncertain. In addition, there will be risks and
uncertainties described in the proxy statement/prospectus on Form
F-4 relating to the proposed transaction, which is expected to
be filed by Gogoro with the SEC and other documents filed by
Gogoro or Poema Global from time to time with the SEC. These
filings may identify and address other important risks and
uncertainties that could cause actual events and results to
differ materially from those contained in the forward-looking
statements. Neither Poema Global nor Gogoro can assure you that
the forward-looking statements in this communication will
prove to be accurate. These forward-looking statements are
subject to a number of risks and uncertainties, including,
among others, the ability to complete the business combination due
to the failure to obtain approval from Poema
Global's shareholders or satisfy other
closing conditions in the business combination agreement, the
occurrence of any event that could give rise to the
termination of the business combination agreement, the ability
to recognize the anticipated benefits of the business
combination, the amount of redemption requests made by Poema
Global's public shareholders, costs related to
the transaction, the impact of the global COVID-19 pandemic,
the risk that the transaction disrupts current plans and
operations as a result of the announcement and consummation of
the transaction, the outcome of any potential litigation,
government or regulatory proceedings and other risks and
uncertainties, including those to be included under the
heading "Risk Factors" in the registration statement
on Form F-4 to be filed by Gogoro with the SEC and those included
under the heading "Risk Factors" in the annual report
on Form 10-K for year ended December 31,
2020 of Poema Global and in its subsequent quarterly reports
on Form 10-Q and other filings with the SEC. There may be
additional risks that neither Poema Global nor Gogoro presently
know or that Poema Global and Gogoro currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward looking statements. In light of
the significant uncertainties in these forward-looking
statements, you should not regard these statements as a
representation or warranty by Poema Global, Gogoro,
their respective directors, officers or employees or any other
person that Poema Global and Gogoro will achieve their
objectives and plans in any specified time frame, or at all.
The forward-looking statements in this communication represent
the views of Poema Global and Gogoro as of the date of this
communication. Subsequent events and developments may cause
those views to change. However, while Poema Global and Gogoro
may update these forward-looking statements in the future, there is
no current intention to do so, except to the extent required
by applicable law. You should, therefore, not rely on these
forward-looking statements as representing the views of Poema
Global or Gogoro as of any date subsequent to the date of this
communication.
Important Additional Information Regarding the Transaction
Will Be Filed With the SEC
In connection with the proposed transaction, Gogoro will file a
registration statement on Form F-4 with the SEC that will
include a prospectus with respect to Gogoro's
securities to be issued in connection with the proposed
transaction and a proxy statement with respect to the
shareholder meeting of Poema Global to vote on the
proposed transaction. Shareholders of Poema Global and other
interested persons are encouraged to read, when available, the
preliminary proxy statement/prospectus as well as other
documents to be filed with the SEC because these documents will
contain important information about Poema Global, Gogoro and
the proposed transaction. After the registration statement is
declared effective, the definitive proxy statement/prospectus
to be included in the registration statement will be mailed
to shareholders of Poema Global as of a record date to be
established for voting on the proposed transaction. Once
available, shareholders of Poema Global will also be able to
obtain a copy of the F-4, including the proxy statement/prospectus,
and other documents filed with the SEC without charge, by
directing a request to: 101 Natoma St., 2F, San Francisco, CA 94105. The preliminary and
definitive proxy statement/prospectus to be included in the
registration statement, once available, can also be obtained,
without charge, at the SEC's website
(www.sec.gov).
Participants in the Solicitation
Poema Global and Gogoro and their respective directors and
executive officers may be considered participants in the
solicitation of proxies with respect to the potential
transaction described in this communication under the rules of the
SEC. Information about the directors and executive officers of
Poema Global and their ownership is set forth in Poema
Global's filings with the SEC, including its Form 10-K
for the year ended December 31, 2020
and subsequent filings in section 16 of the Exchange Act or on Form
10-Q. Additional information regarding the persons who
may, under the rules of the SEC, be deemed participants in the
solicitation of Poema Global's shareholders in
connection with the potential transaction will be set forth in the
registration statement containing the preliminary proxy
statement/prospectus when those are filed with the SEC. These
documents are available free of charge at
the SEC's website at www.sec.gov or by directing
a request to: 101 Natoma St., 2F, San Francisco, CA 94105.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities
or in respect of the potential transaction and does not
constitute an offer to sell or a solicitation of an offer to buy
any securities of Poema Global or Gogoro, nor shall there be any
sale of any such securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities
laws of such state or jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting
the requirements of the Securities Act.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/gogoro-launches-battery-swapping-in-china-301396659.html
SOURCE Gogoro