Gogoro announced that it will cooperate with Belrise, the leading automotive system manufacturer in India, to invest 2.5 billion U.S. dollars in 8 years to build battery swap infrastructure

On the 17th, Gogoro announced the establishment of a strategic energy partnership with Maharashtra, India, and Belrise (formerly known as Badve Engineering Ltd), a leader in the automotive system manufacturing industry, and signed a memorandum of cooperation at the World Economic Forum in Davos. Create an unprecedented battery swap infrastructure with an investment of US$2.5 billion (NT$77.5 billion) over 8 years.

Maharashtra minister: Possibly the world’s largest green economy collaboration

Gogoro and Belrise plan to develop smart mobility and energy storage through swapping batteries and battery swap stations in Maharashtra, while increasing job opportunities in smart energy, electric vehicles and sustainable value chains. “50-50 partnership” to build a vast energy infrastructure in Maharashtra, the world’s second most populous state.

Maharashtra: Maharashtra is one of the 28 states in India. Maharashtra is known as “India’s economic growth engine” because of its huge contribution to India’s GDP. It is also the state with the most advanced manufacturing and service industries in the country, and the Indian region that attracts the most overseas investment. The capital of Maharashtra is Mumbai, an international metropolis.

Belrise Group is India’s leading Tier 1 automotive systems manufacturer with a market share of one-third of the all-India two- and three-wheeler chassis market. The Belrise Group has an overall revenue of US$700 million and has 29 state-of-the-art factories across India specializing in the manufacture of automotive components for two-wheelers, three-wheelers, four-wheelers and commercial vehicles.

The company’s diverse product portfolio includes metal fabrication, polymer processing, casting, mirrors and suspension systems, among others. In response to the wave of electric vehicles, Belrise Group actively provides diversified products for the electric vehicle value chain.

The partnership is also expected to boost the smart electric scooter manufacturing and assembly industry in Maharashtra. Maharashtra Chief Minister Eknath Shinde said: “This is an important milestone for Maharashtra, which may be the largest green economy cooperation in the world.”

Devendra Fadnavis, Deputy Chief Minister of Maharashtra, also said: “Maharashtra, as the leader of sustainable development in the country, actively introduces open and convenient new technologies and provides diversified solutions to accelerate the pace of development. Towards a smart sustainable city and set an example for other cities in India.”

He also said: “We are working with Gogoro and Belrise to build the world’s largest and most innovative smart energy infrastructure, using battery swap to solve growing energy challenges and become a new alternative to fossil fuels.”

Lu Xuesen, founder of Gogoro: Create an open and convenient energy infrastructure

The realization of a smart sustainable city is not the responsibility of a single enterprise or government, but requires the cooperation of multiple parties to propose a new way of thinking and sustainable energy use. Lu Xuesen, founder and CEO of Gogoro, said: “This cooperation is the best example of this new thinking. We believe that creating an open and convenient energy infrastructure can not only realize sustainable transportation, but also accelerate the transformation of the entire ecosystem.”

He emphasized that Maharashtra, Belrise and Gogoro are working together to change the way energy is used, build a new sustainable economy, create more job opportunities, enhance the strength of innovative technology and sustainable industries, and ultimately increase exports and export to more markets.

The battery exchange infrastructure in Maharashtra is expected to start construction this year, and will introduce a complete Gogoro smart energy ecosystem, including battery exchange stations, battery exchange technology, energy management solutions, and provide multiple innovative applications, Invest in smart city planning, energy storage systems, mobile sharing services, smart electric vehicles, grid demand response, distributed energy storage, smart agriculture and other fields

Shrikant Badve, general manager of Belrise, said: “Clean energy is the future trend, and now is a critical moment for the sustainable transformation of Indian companies. As the leading brand in India’s transportation manufacturing industry.” Finally, Maharashtra has more than 1.2 With a population of 100 million, it is India’s largest economy and industrial center, with an annual GDP of more than 400 billion US dollars, accounting for 16% of India’s overall industrial output value.