Gogoro partners with lubricant maker to expand in Vietnam

Taipei, Jan. 6 (CNA) Gogoro, a Taiwan-based e-scooter brand and battery swapping services provider, said on Tuesday that it has decided to expand its cooperation with British lubricant maker Castrol to strengthen its presence in the Vietnamese market.

Gogoro told CNA in a phone interview that it is planning to launch e-scooter models catering to potential Vietnamese riders and authorize Castrol to market and sell these models in the particular market this year.

Gogoro said it will assist with design and technologies used in new models, paving the path for Castrol to sell new e-scooter models in Vietnam.

The partnership followed an agreement signed by the two companies in February 2025 to set up a joint venture, leveraging the British company's knowledge about the Vietnam market. According to Gogoro, Castrol has been in the Vietnamese market for decades.

Since the February agreement was signed, Gogoro and Castrol have launched a pilot e-scooter logistics team in small areas in Vietnam and collected first-hand information from clients.

With 3 million two-wheel vehicle sales every year, Vietnam has been perceived to have great growth potential for Gogoro.

Furthermore, starting from July 1, Vietnam will ban gas-powered motorcycles from entering the downtown area in Hanoi as part of its efforts to cut carbon emissions and improve air quality. Ho Chi Minh City is expected to follow, making the Vietnamese market more attractive to Gogoro.

Gogoro said Taiwan's motorcycle market was affected by a slower global economy, with many consumers turning more cautious about their consumption of big-ticket items like motorcycles.

In Taiwan, e-scooter sales fell 37.64 percent from a year earlier to 49,228 units in 2025, including 28,176 Gogoro units. Gogoro took a 3.98 percent share of the local motorcycle market, where 708,392 units were sold, last year.

Gogoro CEO Henry Chiang (姜家煒) has said the brand is planning to unveil three new e-scooter models this year, and develop more advanced and competitive batteries to help the company's energy business break even in 2026.

Chiang said Gogoro will continue to work hard to allow its energy service operations to create free cash flows in 2027 and also has an aim to achieve a goal for its vehicle business to break even in 2028.

In the first nine months of last year, Gogoro incurred US$60.03 million in net loss, compared with US$51.43 million in net loss a year earlier.