Hero MotoCorp and Gogoro® Inc. today announced a strategic partnership to accelerate the
shift to sustainable electric mobility in India. The partnership brings together Hero, the
world’s largest manufacturer of motorcycles and scooters, and Gogoro, the global leader in
urban battery swapping and smart mobility innovation. The companies will establish a
battery swapping joint venture to bring Gogoro’s industry leading battery swapping
platform to India and will collaborate on electric vehicle development to bring Hero branded, powered by Gogoro Network vehicles to market.


Commenting on the new partnership, Dr. Pawan Munjal, Chairman and CEO, Hero
MotoCorp, said, “Our strategic partnership with Gogoro is in line with our Vision – ‘Be the
Future of Mobility’ which we are bringing alive through our Mission to ‘Create, Collaborate
& Inspire’. Today marks another major milestone in our journey, as we bring Hero’s
leadership in two-wheelers, our Global scale and innovation powerhouse, with
the leadership of Gogoro in Swapping business model, as they have demonstrated over the
years in Taiwan and rest of the world.”

“This partnership will further extend the work, which we are doing at our R&D hubs at the
Centre of Innovation and Technology (CIT) in Jaipur & our Tech Centre in Germany. The
vision and commitment of Hero and Gogoro is perfectly aligned towards the common goal
of accelerating the shift to Smart, Sustainable electric mobility in India, and around the
World. With this new partnership, we commit to introducing a sustainable mobility
paradigm, first in India and then in other markets around the world. This partnership will
strengthen and expedite the Indian government’s electrification drive and will have a
significant impact on India’s energy and mobility future” he added.

“We are at a critical stage in the transformation of urban mobility and the evolution of smart
cities. With more than 225 million gas-powered two wheel vehicles in India, the need for
smart and sustainable electric transportation and refueling is vital,” said Horace Luke,
Founder & CEO, Gogoro Inc.“The Hero-Gogoro partnership addresses these challenges and
will leverage Hero’s market strength and Gogoro’s industry leading innovations to deliver
smart vehicles and refueling with Gogoro Network battery swapping.”

GOGORO NETWORK
The Gogoro Network is a hyper-efficient battery swapping platform that was recognized by
Frost & Sullivan with the 2020 Company of the Year Award for the Global Swappable Battery
Electric Scooter Market. With more than 375,000 riders and 2,000 battery swapping
stations, Gogoro Network manages 265,000 daily battery swaps with more than 174 million
total battery swaps to date.
The Gogoro Network is an open platform for battery swapping and smart mobility services,
delivering a fresh alternative to legacy fuel. Gogoro Network combines the power of
connectivity, artificial intelligence, and machine learning to create 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 access to Gogoro innovations and
intellectual property including its intelligent drivetrains and controllers, components and
smart systems, so they can develop and roll-out unique electric vehicles that integrate
Gogoro Network battery swapping.


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