Maharashtra Govt. ropes in Gogoro for deploying smart battery infrastructure in the State
The Maharashtra State Government and Taiwanese EV battery swapping infrastructure provider, Gogoro Inc. (Gogoro) have entered into an 'Ultra Mega Project' agreement to manufacture vehicles, smart battery packs, and battery swap stations and deploy an open and accessible battery swapping infrastructure in the state beginning late 2023.
The offer letter follows the memorandum of understanding signed between the State Government of Maharashtra and Gogoro that was previously announced at Davos in January 2023. The proposed Ultra Mega Project deal will be exceeding $1.5 billion and will also include financial incentives and support from the Maharashtra Government.
"We are creating a smart battery ecosystem with Gogoro, a leader in sustainable vehicles and electric fuel technologies. As part of the project, Gogoro will establish its India vehicle, smart battery, and battery swapping station manufacturing in Maharashtra and deploy their industry-leading smart battery infrastructure in the state, generating approximately 10,000 direct and indirect jobs," stated Eknath Shinde, Chief Minister of Maharashtra.
According to an announcement made on Thursday (June 29), Gogoro will produce electric two-wheeler and develop an open and accessible smart energy infrastructure in the State.
The offer tabled by the Maharashtra government outlines an eight-year Phase 1 Investment Plan that includes more than $500 million investment in manufacturing and $1 billion in the deployment of smart battery infrastructure by Gogoro along with financial incentives and reimbursements by the State govt.
The deployment of battery swapping infrastructure is expected to begin in late 2023 which will utilize Gogoro's smart energy ecosystem including smart battery stations, swapping technologies, and network management solutions, and will support the state in other areas of innovation including smart city design, smart mobility sharing, smart EVs, demand response services, distributed energy storage among other applications.
"Building on Gogoro's successful deployment of an open battery swapping network that supports multiple vehicle makers in Taiwan, we plan to proceed in partnership with the Maharashtra government to bring Gogoro vehicles, smart batteries, and swap stations to India starting with the state of Maharashtra. We are focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion," said Horace Luke, founder, and CEO of Gogoro.
"It is essential that we transform industries and infrastructure to successfully enter a new era of clean, connected mobility. We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses."