As India pursues a goal to drastically reduce greenhouse gases through efforts like a shift to zero carbon emission vehicles that also lead to the elimination of dependence on imported fuels, even imported battery cells, the first impact report of Taiwan-based Gogoro is out. It outlines some very interesting and important factors on battery electric two-wheelers and battery swapping technology, stopping short of how green electricity could be harness over a grey source to ensure a greener well to wheel journey. 

Highlighting Gogoro's progress in sustainability and ESG, the first impact report categorically outlines how its swapping and smart scooters have been successful in enabling a transformation to sustainable urban transportation. The company's Founder and CEO Horace Luke mentions that ten years ago few were contemplating the urban energy and transportation transformation necessary to address in the wake of the plight cities were facing because of air pollution and other negative effects of climate change. Our first impact report highlights this and the progress we have made in our ESG initiatives, in-turn outlining our future intentions, he adds. 

Drawing attention how the report summarises his company’s commitments and progress in four key strategic areas of cleaner planet, safety and resilience, responsible business and social impact, Luke avers that these four areas are key to our success in achieving smarter, cleaner and safer cities. 
With nearly two million customers and 400 million battery swaps to date, Gogoro has established an open 360-degree ecosystem, which is AI-powered and cloud-connected to deliver the most accessible urban energy solution. The system is constantly learning, adjusting and optimising smart batteries and swapping stations to enable a variety of smart city solutions. 

Stating how the battery swap technology and smart scooters have made a positive impact with the help of key statistical data in terms of fossil fuel consumption reduction, CO2 emissions reduction, particulate emission reduction and employment generation, the first impact report also highlights how cities in Asia and Africa, where two-wheelers are used for daily commutes, are benefitting.  With the battery swapping system paid particular attention to because it allows users to refuel their electric scooters quickly and easily, the first impact report states that the system or technology creates the potential to integrate renewable power into electricity grids through virtual power plants and demand response programmes. 

In 2022, Gogoro began purchasing renewable energy in Taiwan to further reduce the amount of scope 2 emissions caused by its manufacturing, retail operations and battery swapping service, according to the first impact report. With a long-term goal of achieving 100 percent renewable energy, in 2022, it achieved 40 percent renewable energy in its factory operations and at two retail stores.

Gogoro And Hero Group
Hero MotoCorp, which began deliveries of its first Vida V1 electric scooter in select cities in India starting with Bengaluru, announced in 2021 that it has entered into a strategic partnership with Gogoro to establish a battery swapping JV that will bring the Taiwanese company's industry leading battery swapping platform to the Indian market. The Indian two-wheeler major also announced that the two companies will collaborate to build electric two-wheelers in India that are branded as Hero and powered by Gogoro network. 

Drawing attention to Gogoro's hyper-efficient battery swapping network receiving the 2020 Frost & Sullivan Company of the Year award for the Global Swappable Battery Electric Scooter Market, sources aware of the development mentioned that Hero MotoCorp would benefit from Gogoro's knowledge and experience to drive a beneficial arrangement in the electric two-wheeler market that is also being encouraged by the government. Citing that there are hurdles like an electric two-wheeler attracting 5 percent GST and a battery attracting 18 percent GST, they added that these are being followed up on and would soon hopefully be sorted. 

Encouraging battery swap with a favourable policy structure
While Gogoro may be keen to carve out a good pie of the Indian market with its intelligent battery swapping technology, India's homegrown company, Sun Mobility, may not be any less in its ability to deliver on the same front. At Auto Expo 2023, it showcased an AI enabled smart battery swapping system and smart battery packs in line with the government's encouragement to develop an efficient EV ecosystem and bring about a shift to lower the CO2 emissions that Indian cities seem to battle with. Cities like Mumbai, which have until now not figured among the top polluted cities in the world, seem to be getting there with high particulate, NOx and CO2 emissions. 

While the high amount of construction activity and a change in wind currents may be the contributing factor, the fact that the number of two-wheelers in the megacity have risen in the last one or two decades is an indication that a transition to EVs will contribute to lowering of emission levels to an extent. An ability to generate electricity needed to fuel these many numbers of electric two-wheelers would also need to come from a greener source rather than from lignite burning thermal plants that would mean a mere shift of pollution from cities to rural areas where most thermal plants are. 
 

Gogoro partnership with Maharashtra Government

The Indian State of Maharashtra announced a strategic energy partnership with Gogoro Inc. and Belrise Industries (erstwhile known as Badve Engineering Ltd) to establish an unprecedented battery-swapping infrastructure in January 2023. The two companies in association to the respective state government plan to build a smart energy infrastructure that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage. The deployment is also expected to accelerate job growth throughout the smart energy, electric vehicle and sustainability value chain. It is expected to foster smart electric vehicle manufacturing and assembly too.  

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.

The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.

Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.

The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.

The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.

Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.

Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”

In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.

During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.

“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.

In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.

He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.

Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”

Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”

The Maharashtra government has given rolled out the Electric Vehicle Policy 2025 for a period of five years (till 2030) with an estimated outlay of INR 19.93 billion.

The forward-looking policy aims to not only incentivise purchase of electric vehicles, but also aims to boost adoption and real-world usage.

As per the policy, certain EVs plying on highways will be given a toll waiver, EV charging infrastructure strengthened with an ambition have charging facilities every 25km on the national highways.

Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses and transport undertaking under civic bodies will get concession of 10 percent on purchase of an EV on the original cost. For goods carrying three-wheelers, four-wheelers and electric tractors will be eligible to a concession of 15 percent.

The government has also waived off registration fee on EVs. Lastly, electric four-wheelers and buses will also get toll exemption on Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg, along with 50 percent concession on state and other national highways.

Devendra Fadnavis, Chief Minister of Maharashtra, said, "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state."