TAIPEI (Taiwan News) — Gogoro is seeking to regain momentum by launching a lower-priced electric scooter and tightening operations under new management, Nikkei Asia reported Thursday.

At a Gogoro dealership in Taipei in December, the newly launched Ezzy 500 drew praise from a customer in his 60s who said he decided to replace his gas-powered scooter. He described the electric scooter as quiet, comfortable, and responsive.

Gogoro rolled out the Ezzy 500 in September as part of a broader turnaround effort after struggling with rising competition and slowing demand. Once an early leader in Taiwan’s e-scooter market, the company has lost momentum in recent years.

The new model's pricing is a large appeal. At NT$41,680 (US$1,300) after government subsidies, the Ezzy 500 costs about 5% less than Gogoro’s previous-generation flagship.

The strategy appears to be gaining traction. The Ezzy 500 topped sales rankings in its class in Taiwan in October and November, according to industry data.

Founded in 2011, Gogoro pioneered Taiwan’s e-scooter market by building a subscription-based battery-swapping network that removed the need for home charging. The company was listed on Nasdaq in 2022 after merging with a special purpose acquisition company.

Gogoro still holds roughly 50% to 60% of Taiwan’s e-scooter market, but competition has intensified as subsidies were reduced after 2020. Rival Kymco, with nearly 30% market share, has built a charging network nearly as large and expanded aggressively with cheaper models.

Financial pressure has mounted. Gogoro’s operating revenue fell 11% to NT$9.73 billion in 2024, while net losses widened to NT$3.82 billion, its largest since listing.

A management overhaul led by major shareholder Ruentex Group has since sharpened the company’s focus. Gogoro has narrowed its product lineup, cut costs and reported smaller operating losses in the first nine months of 2025, as it targets breakeven in battery-swapping by 2026 and its vehicle business by 2028.