India's Maharashtra state on Tuesday signed a deal with Taiwan's Gogoro and automotive system maker Belrise Industries under which the two firms will invest $2.5 billion over eight years in building battery-swapping infrastructure across the state.
A rider stops in front of a battery-swapping station by Taiwanese electric scooter maker Gogoro Inc in Taipei, Taiwan April 19, 2022. REUTERS/Annabelle Chih
and automotive system maker Belrise Industries under which the two firms will invest $2.5 billion over eight years in building battery-swapping infrastructure across the state. Shares in Gogoro Inc rose 7.1% after the deal was announced. The companies will start deploying the infrastructure this year and hope that it will encourage energy vehicle use as well as help to reduce energy costs for farmers.
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