Globe Group’s 917Ventures Inc., in partnership with Ayala Corp., has entered the climate technology space through a joint venture agreement with Taiwanese electric scooter brand Gogoro. The deal, valued at $8.5 million, aims to introduce eco-friendly vehicles to the Philippines.
The joint venture, called Gogoro PH, will be majority-owned by 917Ventures with a 49% stake, while the conglomerate Ayala Corp. will hold a 21% ownership. Gogoro, the electric vehicle maker, will own 30% of the joint venture. The transactions are expected to be finalized within 10 days.
Under the agreement, Gogoro PH will handle the importation, sale, distribution, and after-sales services of Gogoro’s smart battery-powered E-Scooters. The Globe Group had previously announced the arrival of 100 electric scooters and 400 smart batteries in February, which were tested for logistics and last-mile delivery in Metro Manila.
The joint venture also plans to deploy battery-swapping stations to provide immediate battery replacement to riders, eliminating the need for hours of charging. The first station was launched at the Globe headquarters in Bonifacio Global City, and four additional stations are set to open soon in Mandaluyong, Makati, and Pasig.
Gogoro PH CEO Bernie Llamzon expressed excitement about providing Filipino riders with sustainable, cost-effective, and advanced transport options through their swappable battery system and smart mobility solutions.
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