Gogoro to receive US$50 million investment from Gold Sino

Taipei, June 5 (CNA) Taiwan-based electric scooter maker Gogoro Inc. said Wednesday it will receive a US$50 million capital injection from Gold Sino Assets Limited in the coming days.

According to Gogoro, based on an agreement signed by the two companies on Tuesday, Gold Sino, part of the Ruentex Group, will acquire 32,516,095 newly issued common shares from Gogoro at a unit price of US$1.5377.

In a statement, Ruentex Group Chairman Yin Yen-liang (尹衍樑) said that as a trailblazer in two-wheeled transport, Gogoro was set to play a leading role in building smarter, sustainable and more convenient cities of the future.

"With Gogoro's continued business expansion at home and the rest of the world, it is pivotal to ensure the company's high operational effectiveness and a flexible deployment of its resources to provide pioneer products and a better user experience to create a greater value of the company for them," Yin said.

Meanwhile, Gogoro founder and CEO Horace Luke (陸學森) thanked Yin and Gold Sino for helping the company achieve its goal of smart mobility and clean energy.

In a separate statement Monday, Gogoro said that its share of Taiwan's scooter market had reached 8.68 percent in May, a 64 percent increase over April and the highest level since 2023.

Citing figures from the Motor Vehicle Drive Information Service, Gogoro said over 10,000 JEGOs had been sold in the three months since the entry-level model's release.

In May, 2,562 license plates were issued for JEGOs, making it the best-selling electric scooter in Taiwan last month.

In addition, the electric scooter maker said that nearly 2,500 Gogoro Pulses had been ordered since the new model was launched in January.

Gogoro said in February that the company is on course to secure a 10 percent share of Taiwan's overall scooter and motorcycle market by the end of the year.