Rumor PPGH

Taiwan's Gogoro in talks to go public via merger with Poema Global

, Bloomberg quint

Gogoro, a Taiwanese startup that specializes in battery-swapping technology, is in talks to go public through a merger with Poema Global Holdings Corp. The deal is set to value the combined company at $1 billion or more, the people said, asking not to be identified as the information is private. An announcement could come as soon as this week, they said.

Taipei-based Gogoro has touted its ability to reduce energy consumption with its products that power electric scooters and other two-wheeled vehicles. Last month, it said that together with its customers, it had saved 300 million kilograms (661 million pounds) of carbon dioxide, the equivalent of what more than 30 million trees absorb in a year.

Led by Chief Executive Officer Horace Luke, Gogoro counts Singapore’s Temasek Holdings Pte, Panasonic Corp., Al Gore’s Generation Investment Management LLP, Sumitomo Corp. and France’s Engie SA among earlier backers. 

Last month, Gogoro said its network of monthly subscribers eclipsed 400,000, and that it has surpassed 200 million battery swaps. The company in recent months has also struck strategic partnerships in India and China. 

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