and GoTo, the Indonesian super-app . Singapore’s state fund Temasek, Al Gore’s Generation Investment Management and sustainability activist Engine No. 1 also took stakes.
At 2.8 times its own 2023 sales forecast, Gogoro sits toward the back of the car-charging parade including Tritium and Allego , both of which also went public recently after merging with special-purpose acquisition vehicles. The average multiple of six of them is a speedy 11 times revenue. At 18 times EBITDA, Gogoro’s enterprise value is more middle of the road but the company already reports positive numbers, which is more than most.Gogoro’s selling point is the relative ease of building its charging networks in Asia’s dense cities.
Luke is however not alone in figuring this out. In India, rivals already have manufacturing partners. Hero, the country’s bike-making behemoth, is only just getting into the electric game. Citywide rollouts carry risk too if demand doesn’t follow although Gogoro believes its monitoring system, covering battery charge, location and health, helps it deploy funds efficiently.
Two-wheelers are a modest form of transport, but the ability of electric mopeds to change the sound of city life is anything but.
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