AUTOMOTIVE retailer Cycle & Carriage (C&C) signed an agreement with Nasdaq-listed Gogoro to be an exclusive distributor of the latter’s battery-swapping systems and electric scooters in Singapore, it announced on Wednesday (Jul 17).
The two-wheeled electric vehicles (EVs) are alternatives to motorcycles with internal combustion engines, and are targeted at last-mile delivery riders in the Republic.
C&C, which is a member of mainboard-listed Jardine C&C, said that it is looking to expand its portfolio in the country with two-wheeled EVs and battery-swapping systems.
The company will introduce three Gogoro EV models by the fourth quarter of 2024. Dedicated battery-swapping sites – known as GoStations – are also expected to be rolled out in Singapore.
Along with obtaining licensing rights to install these battery-swapping stations, C&C is also partnering with Shell Recharge to launch GoStations across petrol pumps in the country.
Gogoro’s battery-swapping network allows its users to pick up fully charged batteries at designated locations and exchange them for drained ones, with each swap allowing riders to travel up to 100 km.
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It has been rolled out in more than 2,500 locations across Taiwan.
Gogoro estimates that its electric refuelling solution has avoided more than one million tonnes of CO2 emissions.
“The positive feedback from foodpanda riders and valuable data gained from the sandbox pilot have given us confidence to commercialise Gogoro (products) in Singapore,” said Wilfrid Foo, managing director of C&C Singapore.
C&C noted that riders who participated in the pilot test commended the ease of swapping batteries for their vehicles and the smooth riding experience. The pilot will be completed by September this year.
Singapore’s first GoStation is expected to be completed in August 2024, with a showroom for the EVs ready by the fourth quarter.
Shares of Jardine C&C were trading 1.1 per cent or S$0.27 lower at S$25.31, as 4.01 pm on Wednesday, after the announcement.
