TAIPEI (Global Views Monthly/TVBS News) — After refocusing and restructuring, Gogoro is launching two new vehicles in the first half of the year, with its Vietnam market strategy also bearing fruit. Gogoro CEO Henry Chiang (姜家煒) said the company is ready for its next phase of growth and will continue pursuing three medium-to-long-term financial goals. He also announced the full retirement of first-generation batteries, continued investment in new batteries, and plans to add more than 100 GoStation battery-swapping stations.
In 2025, Taiwan's total motorcycle market sales reached 708,000 units, down approximately 8.42% from 2024, with electric motorcycle sales falling to 49,000 units. However, Gogoro delivered a strong start to the year, with its 2025 operating cash flow reaching US$31.1 million (NT$977.5 million), a two-year high, while net losses narrowed to US$80.8 million (NT$2.54 billion). Gogoro also announced it will launch three new vehicles this year, optimize its energy network and advance its Vietnam expansion.
Henry Chiang: Pursuing Three Medium-to-Long-Term Financial Goals
Chiang told GlobalViews Monthly (遠見) 2025 was a pivotal year for the company's refocusing and restructuring, and that Gogoro is now ready for its next phase of growth. The company continues to pursue three medium-to-long-term financial goals: achieving breakeven for its energy business in 2026, generating free cash flow in 2027, and achieving breakeven for its vehicle business in 2028.
Addressing rider concerns about the energy network, Gogoro announced the full retirement of first-generation batteries and will continue investing in new batteries to improve swapping quality. In 2025, the company replaced more than 50,000 batteries per month, double the previous year's figure, and implemented a bottom-tier station management system to expand capacity and improve satisfaction at high-load stations Operational data from 2025 shows rider battery-swapping satisfaction increased 26% over two years.
The first-generation batteries, which witnessed a decade of Taiwan's electric vehicle industry development, have completed their mission and will fully retire this year. The company will reinvest NT$1 billion (US$31.8 million) to support the stable development of its energy business and plans to add more than 100 GoStation locations in high-demand battery-swapping areas across Taiwan.
Two Major Consumer Trends: Female Riders Surpass Half; "Refined Parenting" Drives Consumer Upgrades
In its vehicle business, Gogoro has observed two major consumer trends: the proportion of female riders of mid-to-high-end models continues to increase, and declining birth rates have led to "refined parenting" and consumer upgrades, with parents more willing to pay for "emotional value." Female riders now account for 53% of Gogoro's customer base, making it the only brand among Taiwan's four major motorcycle manufacturers where women outnumber men.
Gogoro launched a co-branded model targeting families and emphasizing high "emotional value" in March. A new mid-to-high-end model designed exclusively for female riders will follow in June. In the fourth quarter, the company will introduce a model designed specifically for the Vietnam market.
Partnering with Castrol to Enter Vietnam Market
For its overseas expansion, Gogoro is fully focused on the Vietnam market. The company is capitalizing on the Vietnamese government's aggressive push for industrial transformation, including Hanoi's ban on gasoline vehicles during certain hours starting in July and commercial logistics platforms banning new gasoline vehicles from joining. Local commercial riders average up to 210 km (130 miles) daily, and Gogoro's rapid battery-swapping system addresses the pain point of time consumed by traditional charging.
In 2025, Gogoro established a joint venture with top-tier lubricant brand Castrol (嘉實多) called Castrol Gogoro Mobility, with Castrol handling local channel sales and operations while Gogoro provides products and technology. The company expects to launch a pilot program with commercial platforms in the second quarter, activating 24 battery-swapping stations, and officially begin selling vehicles in Vietnam in the fourth quarter.
To rapidly expand its footprint in Vietnam, Gogoro also unveiled for the first time a new battery-swapping station designed for overseas markets called GoStation Q. The installation requires only one-third the footprint of original stations, operates on standard 220V utility power and features an optimized heat dissipation airflow structure to improve charging efficiency. GoStation Q is expected to undergo small-scale testing in Taiwan in December and officially launch in Vietnam in 202. ◼ (At time of reporting, US$1 equals approximately NT$31.43)
>>> For More Reading: This article was first released on the Global Views Monthly Website. Click here for the Chinese-language version of this story: Gogoro營運現金流創新高！上半年推2款新車，首代電池正式退役
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