Battery-swapping SPAC Gogoro secures $345M loan

Taiwanese battery-swapping company Gogoro has signed a $345 million five-year credit facility agreement in order to increase liquidity among uncertain economic conditions. The loan comes from a group of 10 syndicated banks led by Mega International Commercial Bank Co., according to a . Gogoro will use the funds to pay off an existing facility, secure … Read more

Leoparda Electric is bringing battery swapping for two-wheelers to LatAm

Leoparda Electric, a São Paolo–based startup, wants to be the of Latin America. In other words, it’s looking to build out a network of battery swapping stations that should help spread adoption of electric two-wheelers in the region. While LatAm is the second largest two-wheeler market after Southeast Asia, electrification in the region has been … Read more

Magna enters the micromobility and battery swapping market

Magna International, a Canadian mobility technology company that builds sensor-based systems for cars like driver monitoring systems and advanced driver assistance systems (ADAS), is entering the micromobility market. The company invested $77 million in Yulu, an Indian shared micromobility operator, and plans to jointly launch a battery swapping service company. Magna’s investment is part of … Read more