Gogoro, Belrise to bet $2.5 bn on battery-swapping infra in Maharashtra

Gogoro, a Taiwanese firm that is in the business of sustainable mobility technology and battery-swapping infrastructure, on Tuesday announced a 50-50 joint venture with Belrise Industries (earlier known as Badve Engineering) to invest $2.5 billion (Rs 20,500 crore) over eight years to build battery-swapping and energy infrastructure in Maharashtra.

A non-binding memorandum of understanding (MoU) was signed in Davos on Tuesday with the state government.

In an interview from Davos, Gogoro founder Horace Luke said: “We will put up smart battery stations to begin with in top 10 densely populated cities in Maharashtra, including Pune and Mumbai. India is the holy grail where we need to put our solutions.”