Gogoro, Metro Motor and Paz Group Launch Two-Wheel Battery Swapping in Israel

Gogoro Inc. ( Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced the launch of its industry leading battery swapping system and Smartscooters in the Tel Aviv metropolitan area. In partnership with market leaders Metro Motor and Paz Group, the companies expect to launch in other cities in Israel in the future.

Gogoro, Metro Motor and Paz Group Launch Two-Wheel Battery Swapping in Israel

"I welcome the arrival of Gogoro electric scooters to Israel, as they serve several significant agendas," said Meital Lehavi, Deputy Mayor of Tel Aviv-Jaffa Municipality, managing the Transportation, Road Safety and LGBT Community departments. "First, two-wheeled vehicles are traffic jam busters in an age of road congestion. Second, this is a breakthrough that heralds the transition into smart and green transportation through cooperation that will allow battery swapping at gas stations, turning them into venues for alternative energy supply."

Metro Motor is a top two-wheel vehicle distributor in Israel and Paz Group is a leading energy, gas and retail group in Israel. The companies are launching with 10 battery swapping locations and anticipate deploying to 35 battery swapping stations by the end of 2022 and more than 150 stations within 4 years.

"Gogoro is excited to be launching its battery swapping in Tel Aviv. We are focused on driving the mass market shift to smart electric mobility and battery swapping is one clear path to solving a city's mobility and energy demands in a safe, sustainable, and scalable way. As one of the world's most innovative cities, the people of Tel Aviv can now embrace a new era in smart mobility innovation using Gogoro's Smartscooters and battery swapping," said Horace Luke, founder, chairman, and chief executive officer of Gogoro. "Metro Motor and Paz Group are two industry leaders in Israel, and together, we are introducing a new urban mobility experience that is smart, sustainable and available to everyone. Customers in Tel Aviv can now purchase the high-performance Gogoro S2 ABS or the versatile Gogoro 2 Plus at Metro retail stores in the city."

"We are proud and excited to begin marketing Gogoro products in Israel," said Gadi Aviram, the chairman of the board of Metro Motor. "The introduction of this innovative brand into the Israeli market is a milestone in the Israeli transportation industry and it aligns with Metro Motor's vision of constantly updating the high standards by which we operate."

"The Paz Group, positioned to lead the electric energy revolution in Israel, is proud to launch Gogoro's Swap & Go services for Gogoro's Smartscooters. They are a potential game-changer in their market, allowing electric scooter riders to continue their journey without unnecessary charging breaks," said Nir Stern, CEO of Paz.

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