Gojek Announce Investment to Gogoro Through PIPE, Ready to Trial Electric Motors

Gojek announced a strategic partnership with Gogoro, a global technology company in the battery ecosystem swap, to accelerate the adoption of electric vehicles in Indonesia. This partnership covers two areas, namely the GoTo Group's investment in Gogoro through the Private Investment in Public Equity (PIPES); and cooperation Gojek, Gogoro, and Pertamina through a pilot scheme battery swap and the Gogoro Smartscooter vehicle trial in Jakarta.

Founder & CEO of Gogogro Horace Luke said, one of the biggest challenges in Indonesia and around the world today is the effort to transform urban transportation modes into new generation modes of transportation that utilize electric motors that are smart, sustainable, and accessible and accepted by the wider community.

"Battery swap from Gogoro is the latest innovation in electric refueling. We present an open platform to support two-wheeled vehicle manufacturers in introducing electric vehicles that can refuel safely and are easy to use," said Luke in an official statement, Tuesday (2/11).

Co-founder & CEO Gojek Kevin Aluwi added, this partnership brings together two companies with the same vision and thoughts for adoption of electric vehicles as the preferred mode of transportation in Indonesia. “This ambition can only be achieved through the cooperation of various stakeholders. Therefore, this partnership is very important, if we want to realize our goal of reorganizing transportation modes within the city,” said Kevin.

GoTo's investment for Gogoro will be carried out in September 2021 through the Private Investment in Public Equity (PIPE), in connection with the business combination of Gogoro and Poema Global Holdings Group. This transaction is targeted for completion in early 2022.

Electric motor test

Meanwhile, for the trial of the Gogoro Smartscooter electric motorcycle, in the early stages it will be in Jakarta with the availability of 250 units and four battery stations. swap GoStation which is located at Pertamina gas station. Gradually, the two companies plan to increase the number of motors to 5 thousand units and provide more battery stations swap.

For the record, Gogoro is one of the global innovation leaders in compact electric propulsion, battery design, battery swap, and service advanced cloud which leverages artificial intelligence to manage battery availability and safety. Gogoro forms the Gogoro Network ecosystem, a battery platform swap efficient and recognized by Guidehouse Insights as a battery company swap leading for light vehicles (lightweight) cities in the world.

There are more than 400 thousand riders and 2.100 battery stations swap on the Gogoro Network, serving 270 thousand batteries swap daily with more than 250 million total battery swap to date. In addition to the Gogoro Network, in 2015, the company launched the Gogoro Smartscooter, the world's first award-winning smart electric motorcycle.

In 2019, Gogoro Network developed the Powered by Gogoro Network Program (PBGN) which provides Gogoro vehicle manufacturer partners with access to Gogoro's innovations, including intelligence drivetrain and their controllers, components and smart systems, so that they can develop and launch unique electric vehicles integrated with the Gogoro battery network swap.

This electric motor trial is in line with the goal sustainability Gojek and ongoing efforts to reduce the carbon footprint. In April 2021, Gojek launch Sustainability Report which shows the target Gojek to achieve Zero Emissions by 2030, including plans to transition 100% of its two-wheeled fleet to electric vehicles.

As part of this plan, Gojek actively exploring ways to develop a comprehensive electric vehicle ecosystem by leveraging technology to overcome barriers to use that partners face driver and ensure consumers get the optimal experience.

Further, in the report Gojek share significant steps to achieve its targets and will be reviewed and made public annually. One of them is GoGreener, which includes a commitment to conduct an annual carbon inventory for scope 1, 2, and 3, as well as waste counting starting in 2021.

Then, launched the GoGreener Carbon Offset feature which is the world's first carbon footprint absorption feature for B2C, directly involving customers, in the industry. ride hailing; launched the GoTransit service to facilitate multimodal travel to encourage the use of public transportation (first mile, last mile); other strategic actions.

Similar action from Grab

closest competitor Gojek, Grab also take action similar to reducing carbon footprint. Grab in collaboration with local electric vehicle manufacturer VIAR, ordered more than 6 thousand units of electric motorbikes in Semarang which are ready to be distributed until the end of 2021 throughout Indonesia. Apart from VIAR, Grab partnering with other local manufacturers such as Gesits and Selis, to multinational manufacturers such as Hyundai, Honda and Kymco.

As of January 2020 to April 2021, there are more than 6 thousand electric vehicle fleets Grab has helped reduce CO2 emissions which are estimated to be up to 4 thousand tons, equivalent to the amount of CO2 absorbed by more than 190 thousand trees a year. Grab has started trials of electric vehicles GrabBike Electric Protect in Jakarta, Bali and Yogyakarta.

Specifically in Central Java, last April, Grab strengthening support for the National Electric Vehicle ecosystem by launching electric scooters that can be used by the public, electric bicycles that are used by delivery partners GrabFood, as well as electric motorbikes used by driver partners GrabBikes in Surakarta.

Other than that, Grab also cooperates with the Surakarta City Transportation Agency in utilizing the City Walk lane for the electric scooter personal mobility device lane GrabWheels and built a Public Electricity Supply Station (SPLU) together with PT. PLN Persero Surakarta. VIAR has also invested in business units GrabWheels as part of support for the electric-based vehicle ecosystem in Indonesia.