Gogoro (NASDAQ: GGR), a global leader in battery swapping ecosystems, and The Indian State of Maharashtra have teamed up to drive sustainable mobility. The 'Ultra Mega Project' agreement, valued at over $1.5 billion, aims to deploy an accessible battery swapping infrastructure across Maharashtra, starting in late 2023.

Gogoro plans to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage. The deployment is also expected to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain. Gogoro is expected to lead the increase of foreign direct investment into the state of Maharashtra in both supply chain capabilities and smart battery infrastructure.

Horace Luke, founder, and CEO of Gogoro stated: "It is essential that we transform industries and infrastructure to successfully enter a new era of clean, connected mobility.”

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed.

Shares of Gogoro trade on the NASDAQ under the ticker symbol GGR.