Gogoro of Taiwan and Belrise Industries (formerly Badve Engineering) will jointly invest approximately $2.5 billion over eight years in Maharashtra.
The 50:50 alliance will see the creation of a battery-swapping infrastructure which will leverage Gogoro’s smart energy ecosystem comprising smart battery stations, swapping technologies and network management solutions.
The agreement was signed at the Maharashtra pavilion, World Economic Forum in Davos, Switzerland. Eknath Shinde, Chief Minister, said this was a “remarkable moment” for the State which would perhaps emerge as the largest green partnership of this nature worldwide.
Devendra Fadnavis, Deputy Chief Minister, added that it was important for Maharashtra to embrace new technologies that are open, and accessible and enable dynamic solutions that can accelerate the transition to smarter sustainable cities.
According to Horace Luke, Founder and CEO of Gogoro, the future of smart sustainable cities and countries is not about a single company or government. On the contrary, it is but about a community coming together to instill a new way of thinking and using sustainable energy.
“This partnership represents the future and this new way of thinking - not just about sustainable transportation, but about an entirely new system. That is why we truly believe in building open and accessible infrastructure that will uplift the entire ecosystem,” he said.
Shrikant Badve, Managing Director, Belrise Industries, said the time had come for Indian businesses to begin their transition to a new model of sustainable operations.
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