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Intellasia East Asia News – Taiwanese electric two-wheeler maker Gogoro secures $345 million loan

Electric two-wheel maker and battery swapping infrastructure provider Gogoro inked a $345 million (NT$10.7 billion) loan last week with a group of ten syndicated banks.

The five-year credit facility agreement is being led by Mega International Commercial Bank Co., according to a regulatory filing cited by TechCrunch. The facility consists of two term loans and one revolving facility that will be used to pay off an existing loan, purchase energy cells for its swappable batteries, support working capital, and be used on Gogoro Network operations in Taiwan, the filing said.

The loan comes with a two-year extension option, and if Gogoro continues to meet carbon reduction goals, a facility rate discount will be applied, per the filing.

Last month, Gogoro announced it had launched its e-scooters and battery swapping system in Tel Aviv by partnering with Metro Motor and Paz Group from Israel. The company also announced in September that it had been chosen for a sandbox pilot in Singapore.

https://www.taiwannews.com.tw/en/news/4676729

 

Category: Taiwan


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