Gogoro Inc. has been officially recognised by the Small Industries Development Bank of India (SIDBI) as an empanelled Original Equipment Manufacturer (OEM). This recognition allows Gogoro’s registered electric two-wheelers to qualify for SIDBI’s EV financing programs, creating new opportunities for sustainable mobility solutions in India.
SIDBI’s Vision for EV Adoption
At the Micro, Small & Medium Enterprises (MSME) & Start-up Stakeholder Consultation Meeting held in Delhi, SIDBI’s Chief General Manager, Dr. R. K Singh, unveiled the institution’s flagship mission, “50K-EV4ECO,” aimed at fostering widespread electric vehicle adoption across India. The mission involves providing innovative financing facilities to strengthen the EV ecosystem for commercial uses, facilitating the transition to electric mobility for enterprises.
Gogoro’s Strategic Collaboration
Horace Luke, CEO and founder of Gogoro, expressed the significance of the collaboration, stating, “This collaboration marks a significant step in creating a robust EV ecosystem in India by providing financing to support the transition to cleaner and greener transportation alternatives.” He acknowledged the proactive efforts of the Government of India under its EV30@30 mission and emphasised the role of initiatives like this in assisting two-wheel EV buyers and fleet operators in securing financial assistance at favourable terms for adopting Gogoro vehicles and battery-swapping technology.
SIDBI’s Impactful Legacy
Founded in 1990, SIDBI has impacted various sectors through its integrated and inclusive approach. With a focus on traditional domestic industries, small entrepreneurs, medium enterprises, and knowledge-based industries, SIDBI has influenced over 36 million people in the medium and small enterprises sector through credit and developmental measures.
Gogoro’s Urban Mobility Revolution
This recognition establishes Gogoro as the first global electric two-wheel OEM and the pioneer battery-swapping provider to qualify for empanelment with SIDBI. The company’s objective is to facilitate and expedite the adoption of electric vehicles in India, aligning with the nation’s evolving commitment to sustainable transportation solutions.
Gogoro Battery Swapping Revolution
Gogoro Network boasts nearly 600,000 riders and over 1.3 million smart batteries in circulation. With a network of 12,000 battery swapping stations at more than 2,500 locations, the Gogoro Network has conducted over 500 million battery swaps, saving 770,000 tons of CO2 since its launch.