Sumitomo Corporation partners with Gogoro to enter India and Southeast Asia markets

Sumitomo Corporation and Gogoro Inc. have entered into a partnership to accelerate Gogoro’s business expansion through a collaboration between Sumitomo Corporation, Gogoro and Sumitomo Mitsui Financial Leasing Co., Ltd.

Through this cooperation, Sumitomo Corporation will support Gogoro's business expansion in Taiwan, China and its entry into India, Southeast Asia and other global markets, while also aiming to expand new business opportunities for Sumitomo Corporation and Gogoro.

Gogoro is a world-leading technology and mobile energy company providing replaceable batteries for two-wheeled electric scooters (Smartscooters). Gogoro utilizes a network of battery swap stations (“GoStations®”) to provide clean, convenient portable power. By integrating big data from these ecosystems, the company optimizes energy efficiency, reliability and security, and battery life, helping Taiwan reduce more than 950,000 tons of carbon dioxide emissions since it began offering services in 2015.

For Gogoro's further global expansion, Sumitomo will leverage its global network and knowledge gained from existing operations to support Gogoro's global business development, including Taiwan, India and Southeast Asia.

SMFL will also leverage Gogoro's batteries and related infrastructure to drive the expansion of its asset lifecycle management business and implement the circular economy strategy proposed in the medium-term management plan.