TAIPEI (Taiwan News) — Gogoro will expand its service outside of the Philippine capital of Manila, the company said last week.
Gogoro wants to expand its presence to Baguio, Tuguegarao, and Batanes in Luzon; Cebu and Dumaguete in Visayas; and Cagayan de Oro and Siargao in Mindanao, Business Inquirer said.
The Taiwanese electric scooter maker began commercial operations in Manila in December.
“We are still very bullish about the potential of our scooters in this market such that we are looking at expanding geographically in different parts of the country,” said Bernie Llamzon, president and CEO of Gogoro Philippines, during an online press conference on Feb. 7, according to the Manila Bulletin.
There are currently six battery swap stations (GoStations) at UP Town Center and White Plains, both in Quezon City; Ayala Malls Marikina, Seaoil Petrol Stations along C5 Northbound and EDSA near Guadalupe; and at Paseo de Magallanes in Makati City, per Manila Bulletin.
Gogoro plans to open 20 to 30 more GoStations this year in the Philippines, Business Inquirer reported. The electric scooter market in the Philippines is expected to grow by 12.08% annually from 2024 to 2028, said Business Inquirer citing Statista Market Insights.
Gogoro entered the Philippines through a joint venture between Ayala Corporation and 917Ventures Inc.
Gogoro last week also reported NT$10.98 billion (US$349.8 million) in revenue for 2023. It said it expects to generate 2024 revenue between US$385 million to US$420 million, with 90% to come from the Taiwan market and 10% from the international market.