Taiwanese electric mobility solutions provider Gogoro said it along with Belrise Industries has ink a pact with the Maharashtra government to set up battery-swapping infrastructure in the state. Gogoro and Belrise have ink a non-binding memorandum of understanding (MoU) with the Maharashtra government in this regard on the sidelines of the World Economic Forum in Davos, Switzerland.
As per the agreement, Gogoro and Belrise, a leading Tier-1 automotive system manufacturer which accounts for one-third of all two-wheel and three-wheel chassis made in India plan to set up a joint venture for the initiative.
Gogoro and Belrise “plan to build a $2.5 billion (approx. Rs. 20,435 crore) battery swapping infrastructure in the state” with more partners and investors expect to join in over the next few years.
The infrastructure deployment will be the world’s largest sustainability-focus portable energy system to date, Gogoro claim in the statement.
It will focus on offering open access for a variety of uses including battery swapping, smart electric vehicles, mobility sharing, demand response services and distributed energy storage, smart agriculture, and many other applications.
The deployment is also expect to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain.
Maharashtra Chief Minister Eknath Shinde said :
Maharashtra Deputy Chief Minister Devendra Fadnavis said :
Gogoro CEO Horace Luke said that together, the state of Maharashtra, Belrise, and Gogoro plan to shift energy usage and establish this new sustainable economy that will encourage jobs creation, establish new technical and sustainable industrial capabilities, and ultimately increase state exports.
With more than 120 million residents, Maharashtra is India’s largest economy and industrialise state with a gross domestic product of more than $450 billion (approx. Rs. 36,78,320 crore) that accounts for 16% of India’s industrial output.
This year’s WEF Annual Meeting has got many states including Maharashtra, Telangana, and Tamil Nadu presenting their own investment destination profiles and have got their own pavilions, in addition to three separate pavilions set up by the central government.
The Maharashtra government has already inked pacts worth Rs 1.36 lakh crore with global investors.