Gogoro will seek to crack the notoriously competitive Chinese automotive market ahead of a Nasdaq listing via a special purpose acquisition company that will value the electric scooter and battery swapping tech group at $2.35bn.
The launch of Gogoro’s technology in Hangzhou on Monday is a sign of the enduring draw of the Chinese market despite investment and supply chain decoupling from China as Beijing cracks down on dominant domestic tech groups and foreign fundraising.
“It’s just a huge market. There’s just so many vehicles on the road there, you’ve got to go in,” Horace Luke, Gogoro’s founder and chief executive, told the Financial Times.
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