Gogoro Recognized By SIDBI As the First Foreign Two-Wheeler OEM And Battery Swapping Provider

- Advertisement -
- Advertisement -

SIDBI’s Recognition Enables Certain Gogoro Vehicles to Qualify for Financial Programs Aimed at Boosting Electric Vehicle Adoption in India.

Gogoro, an electric two-wheeler OEM and battery-swapping provider has recently achieved recognition from the Small Industries Development Bank of India (SIDBI). This recognition positions Gogoro as an empanelled Original Equipment Manufacturer (OEM), enabling its registered vehicles to be eligible for SIDBI’s electric vehicle (EV) financing programs. This marks a significant milestone, as Gogoro becomes the first international electric two-wheeler OEM and the pioneering battery-swapping entity to be eligible for such empanelment with SIDBI.

This partnership aligns with SIDBI’s “50K-EV4ECO” mission, which Dr. R. K Singh, Chief General Manager of SIDBI, highlights as a strategic initiative to promote the adoption of electric vehicles across India. SIDBI’s mission includes providing innovative financing solutions to bolster the EV ecosystem, particularly for commercial use. This approach involves both direct and indirect lending strategies that aid enterprises in their transition towards electric mobility.

- Advertisement -

Horace Luke, CEO and founder of Gogoro expressed that this collaboration represents a crucial step in establishing a strong EV infrastructure in India. It aims to facilitate the shift towards more sustainable transportation options by offering financial support. This initiative is particularly beneficial for potential two-wheeler EV buyers and fleet operators, providing them with financial assistance on favourable terms to adopt Gogoro’s vehicles and battery-swapping technologies.

This development aligns with the Government of India’s EV30@30 mission, underscoring the nation’s commitment to accelerating EV adoption. Such initiatives are instrumental in driving forward the transition to electric vehicles, contributing significantly to the growth of a cleaner and more environmentally friendly transportation landscape in India.

 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Europe

European Car Market’s Best Post-Pandemic Year, Driven By 2 Million EVs

0
In 2023, Tesla surpassed Nissan and Volvo as battery-electric vehicles (EVs) neared the sales of diesel cars. For the first time in Europe, EV...

Global EV Sales: 69% Annual Increase, 26% Monthly Decrease – Rho Motion

0
In January, sales of fully electric cars and plug-in hybrids reached 1.1 million, an increase from 660,000 in January 2023. In January, global electric vehicle...

India Shifts Towards Expensive Smartphones, Market Stabilised With 2% YoY Decline In 2023

0
The Indian smartphone market is expected to grow by 5% for 2024, driven by 5G adoption and device upgrades. India's smartphone market experienced a slight...

Buzz

Sangam EoI

DoT Invites Innovators For Sangam, Digital Twin

0
The DoT invites interested parties to pre-register before March 15, 2024 and actively participate in Sangam's outreach programs.  The Department of Telecommunications (DoT) has launched...

Tata Group To Establish Rs 25000 Crore Semiconductor Packaging Plant In Assam

0
This would provide job opportunities in the semiconductor sector for the youth of Assam, eliminating the need for them to relocate to other states...
Dell and Intel AI skill lab

Dell And Intel Launch AI Skills Lab In Mumbai

0
This is an opportunity to explore and master various aspects of artificial intelligence, including Computer Vision, Natural Language Processing (NLP), OpenVINO, and Neural Compute...

Important Sectors

Addressing Charging Needs For India’s Most Adopted EV Segment

0
While innovations in products and solutions keep a startup a step ahead of the competition, innovation in the business model ultimately decides the runway...

BorgWarner Produces E-Motor Parts For Chinese Automaker

0
In January 2024, production started for use in XPeng's X9 MPV; stator winding technology provides exceptional power density and efficiency, while oil cooling enhances...

Qargos Speeds Market Entry For Electric Cargo Two-Wheeler

0
A Pune e-mobility startup utilizes Dassault Systemes’ 3DX platform for rapid design and development of an innovative electric two-wheeler, catering to India's growing last-mile...

Murugappa Water Technology And AquaKraft Group Ventures Announce Water Sustainability Partnership

0
This partnership addresses the growing demand for sustainable water solutions, starting in the Middle East and expanding globally.  Murugappa Water Technology & Solutions Private Limited...
Europe

European Car Market’s Best Post-Pandemic Year, Driven By 2 Million EVs

0
In 2023, Tesla surpassed Nissan and Volvo as battery-electric vehicles (EVs) neared the sales of diesel cars. For the first time in Europe, EV...

Manufacturing

BorgWarner Produces E-Motor Parts For Chinese Automaker

0
In January 2024, production started for use in XPeng's X9 MPV; stator winding technology provides exceptional power density and efficiency, while oil cooling enhances...

Volkswagen Group And M&M Ink Supply Deal For MEB Components

0
The agreement includes the provision of specific electric components and unified cells. Volkswagen Group and Mahindra & Mahindra (M&M) have finalized the first supply agreement...

ZF Launches TN plant, Eyes EV Growth And Exports; Plans INR 1800 Cr Investment

0
The Oragadam facility marks ZF's 19th in India and 10th in TN, with 80% of its workforce expected to be women. In the first...

StoreDot’s Fast-Charging Cells Hit 100 Miles In 4 Minutes

0
StoreDot achieved its '100in4' goal ahead of schedule in early prototype tests through a series of cell improvements, enabling extremely fast charging with existing...

CG Power, Renesas, And Stars Microelectronics To Establish Chip Plant In India

0
The Murugappa Group, a new player in the Indian electric vehicle (EV) market and based in Chennai, stands to gain from the internal provision...