Hero MotoCorp makes strategic investment in Gogoros PIPE

18 Jan 2022 , 04:22 PM

Gogoro? Inc. (?Gogoro? or the ?Company?), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, and Poema Global Holdings Corp. (Nasdaq: PPGH; ?Poema Global?), a publicly traded special purpose acquisition company, today announced its strategic partner, Hero MotoCorp, Engine No. 1 and another investor will be making a PIPE investment, raising the oversubscribed PIPE from $257 million to $285 million.

The existing PIPE is funded by a variety of investors including strategic partners Hon Hai (Foxconn) Technology Group and GoTo Group, the largest technology group in Indonesia, Gogoro vehicle partners, and new and existing financial investors including Generation Investment Management, Temasek as well as Gogoros founding investor, Dr. Samuel Yin of Ruentex Group.

Gogoros battery swapping ecosystem is an established leading solution for electric refueling of lightweight urban vehicles. In less than five years, the Company has accumulated over $1 billion in revenue and 450,000+ battery swap subscribers.

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