Gogoro Inc (睿能創意), a Taiwanese manufacturer of electric scooters that specializes in battery-swapping technology, is in talks to go public through a merger with Poema Global Holdings Corp, a blank-check firm, people with knowledge of the matter said.
The deal is set to value the combined company at US$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.
Photo courtesy of the New Taipei City Department of Transportation via CNA
Terms might change and, as with any deal that is not finalized, it is possible that talks could fall through, they said.
A representative for Gogoro said that “as a matter of policy, we don’t comment on rumor or speculation.”
Poema did not immediately respond to calls or e-mails seeking comment.
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 prevented 300 million kilograms of carbon dioxide from entering the atmosphere.
“Gogoro’s innovative battery-swapping technology will provide cities with a better electric refueling system that greatly reduces consumer anxiety on battery life and range as well as usage costs,” Dong Jinggui (董經貴), chairman of Yadea Group Holdings Ltd (雅迪集團控股), a Gogoro partner that makes e-scooters and bicycles, said in a statement in May. “It will introduce a brand-new mobility experience that is safer and more convenient while reducing the carbon footprint of our customers.”
Led by chief executive officer Horace Luke (陸學森), 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 the past few months has also struck strategic partnerships in India and China.
Poema raised US$345 million in a January initial public offering (IPO).
It has previously said it is focused on finding a company in Asia or Europe that has “validated technologies and attractive unit economics.”
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