Gogoro, Taipei, Taiwan, a technology leader transforming how innovation is accelerating the shift to sustainable urban mobility, today announced a partnership with DCJ and Yadea, China’s leading two-wheel vehicle makers, to deploy a new electric refueling system in China using Gogoro’s battery swapping platform. 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.
“Asia’s most populated cities are beginning to adopt cleaner urban transportation systems for their millions of scooter and motorcycle riders by leveraging innovative electric refueling solutions like Gogoro battery swapping,” said Al Gore, Nobel Peace Prize winner, former Vice President of the United States, and co-founder and chairman of Generation Investment Management, which is an investor in Gogoro. “Gogoro’s partnership with Yadea and DCJ in China, which builds upon their existing work with Hero MotoCorp in India, sends a clear signal that the world’s two-wheel leaders are helping to fuel the sustainability revolution in Asia with smart battery swapping.”
Key to the partnership, DCJ and Yadea will develop a range of two-wheel vehicles built for the Gogoro Network battery swapping platform. Vehicles produced under this partnership will take advantage of the Powered By Gogoro Network program that gives Gogoro’s vehicle maker partners the capability to merge their vehicle technology with Gogoro’s intelligent drivetrains and controllers, components and smart systems.
“Introducing a new era of sustainable urban transportation in China takes industry leaders like DCJ, Yadea and Gogoro coming together with a shared vision to embrace new business models and technologies that set the stage for a better future,” said Horace Luke, founder, and CEO, Gogoro Inc. “We all share an ambitious vision for changing how China’s cities operate in smarter and cleaner ways and the Gogoro Network was created to provide an easy path forward for simple and sustainable electric refueling of two-wheel vehicles with smart battery swapping.”
As the top motorcycle maker in China, DCJ has led the gas-powered motorcycle market in sales for 18 consecutive years with more than 2 million sold per year. As the global leader in all electric two-wheel vehicles, Yadea is also one of the global two-wheel vehicles leaders overall, selling more than 10 million electric two wheel vehicles in 2020.
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 will 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 regulations to ensure safer and easier electric refueling for riders in cities.
“Yadea has a vision to inspire a movement towards greener transportation and lead the two-wheel industry into the future. As a global leader in electric two-wheel vehicles, Yadea is committed to creating environmentally friendly high-tech vehicles and our strategic cooperation with Gogoro continues this commitment,” said Dong Jinggui, chairman, Yadea Technology Group Co. Ltd. “Gogoro’s innovative battery swapping technology will provide cities with a better electric refueling system that greatly reduces consumer anxiety on battery life and range as well as usage costs. It will introduce a brand-new mobility experience that is safer and more convenient while reducing the carbon footprint of our customers. We are changing the future of mobility and introducing a new generation of green energy.”
DCJ and Yadea have invested in a new operating company in China that will be responsible for deploying the Gogoro battery swapping infrastructure and managing it in the future. The first Gogoro battery swapping network is expected to launch in one city this year with additional cities to follow in 2022.
“In order to achieve the national strategic goal of ’emission peak and carbon neutrality’ and to reduce emissions, motorcycle electrification from ‘fuel to electricity’ is an irreversible path. DCJ will increase investment in this field to achieve rapid development,” said Li Jianjun, executive director of the board, Jiangmen Dachangjiang Group Co., Ltd. (DCJ). “Today, battery swapping technology is the best solution to solve various pain points of electric vehicles. Gogoro owns the world’s leading battery swapping technology. Yadea is a global leader in electric two-wheelers. The strong combination of the three parties will help quickly get Gogoro’s battery swapping network up and running in the Chinese market. The goal is to provide safer and more reliable mobility services for the general public.”
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 390,000 riders and more than 2,100 battery swapping stations, Gogoro Network manages approximately 270,000 daily battery swaps with more than 185 million total battery swaps to date.
The Gogoro Network is an open platform for battery swapping and smart mobility services, that delivers a fresh alternative to legacy fuel while offering a more convenient electric refueling experience than traditional plug-in charging. 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.
About Jiangmen Dachangjiang Group Co., Ltd. (DCJ)
Dachangjiang Group (DCJ) is the largest motorcycle manufacturer in China and has been ranked first in China‘s motorcycle industry for 18 consecutive years. Its products cover various types of motorcycles from small and medium to the large-displacement. The annual production is more than 2 million units, and the cumulative production exceeds 42 million units. There are more than 15,000 retail stores nationwide. In order to achieve zero emissions and carbon neutrality, DCJ has been furthering its commitment to accelerate the development and production of electric motorcycles in recent years.
About Yadea Group
Yadea Technology Group Co., Ltd. was founded in 2001. After 20 years of rapid development, it has become a premium electric two-wheeled vehicle manufacturer integrating the development, production and sales of electric mopeds, electric motorcycles, electric bicycles, electric kick scooters and their accessories. In May 2016, Yadea successfully listed on the Hong Kong Stock Exchange and became the first listed company in China’s electric two-wheeled vehicle industry (01585.HK). Yadea’s mission is to use its market leadership to inspire a movement towards greener travel solutions and its vision is to create world-leading electric vehicle solutions by building innovative technologies that meet and exceed international standards for safety and quality. Cumulative sales more than 50 million electric two-wheelers in the last 20 years, Yadea helps to reduce 8.52 million tons of oil consumption, 2.84 million tons of CO2 emissions which is the equivalent of planting 28.4 billion trees. In 2020, Yadea global sales are the first to exceed 10 million units in global electric two-wheeler sales. There are 35,000+ stores worldwide with more than 50 million users and a market share of nearly 22%.
About Generation Investment Management
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a U.S. office in San Francisco. Generation Investment Management LLP is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
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 we distribute and consume urban energy. 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 intelligently 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 our cities is even greater.