The shares of Gogoro (NASDAQ:GGR), which provides electric vehicle batteries to consumers, are climbing on their first day of trading. The company gives the drivers of electric motorbikes and other EVs new batteries in exchange for their used ones — and a monthly fee. After Gogoro recently completed its merger with a SPAC, Poema Global Holdings, GGR stock has begun trading today on the Nasdaq.
Gogoro sought to obtain $295 million of private investment in public equity (PIPE) funding through its merger with Poema. Gogoro’s goal was to obtain an additional $40 million from public investors, and as of yesterday, the total valuation of GGR stock was expected to come in at $2.35 billion.
Here are seven more things that investors should know about Gogoro:
What to Know About Gogoro (GGR) Stock
- The company is based in Taiwan.
- In addition to battery swapping, Gogoro makes “high-speed” electric scooters.
- The company estimated that its revenue in fiscal 2021 was about $325 million.
- It has provided fiscal 2022 revenue guidance of $500 million.
- One of its partners and investors is Foxconn, a Taiwanese company that’s famous for making Apple’s (NASDAQ:AAPL) iPhones.
- The company maintains more than “10,000 battery-swapping stations in Taiwan.”
- Gogoro has many other partners, including scooter makers based in Japan, China and India, along with Indonesian “super app” Gojek.
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
