Ayala Group takes controlling stake in EV battery swapping joint venture

Ayala Corp. said Friday that along with a Globe Telecom Inc. subsidiary, it has taken a controlling stake in an electric vehicle battery swapping joint venture with a unit of Nasdaq-listed Gogoro Inc.

The listed diversified investment holding company of the Ayala Group said it secured a 21 percent stake in Gogoro PH, while Globe’s wholly-owned 917Ventures will hold 49 percent. 

Gogoro SG, which will own the remaining 30 percent of Gogoro PH, has developed a battery-swapping refueling platform for urban electric two-wheeled scooters, mopeds, and motorcycles. The Singapore-based company also develops its own line of electric scooters and offers its own vehicle innovations to vehicle maker partners.

Gogoro PH will offer the battery-swapping technology in Metro Manila. The joint venture company will also import, sell, distribute, operate, manage and maintain two-wheeled electric scooters with battery swap technology under the Gogoro brand, battery swapping stations for E-Scooters and after-sales services business, including selling spare parts.

The Ayala Group is investing heavily in cleaner technology, including renewable energy, to push its sustainability goals that aligns with the United Nations’ Sustainable Development Goals.  
The listed diversified investment holding company of the Ayala Group said it secured a 21 percent stake in Gogoro PH, while Globe’s wholly-owned 917Ventures will hold 49 percent. 

Gogoro SG, which will own the remaining 30 percent of Gogoro PH, has developed a battery-swapping refueling platform for urban electric two-wheeled scooters, mopeds, and motorcycles. The Singapore-based company also develops its own line of electric scooters and offers its own vehicle innovations to vehicle maker partners.

Gogoro PH will offer the battery-swapping technology in Metro Manila. The joint venture company will also import, sell, distribute, operate, manage and maintain two-wheeled electric scooters with battery swap technology under the Gogoro brand, battery swapping stations for E-Scooters and after-sales services business, including selling spare parts.

The Ayala Group is investing heavily in cleaner technology, including renewable energy, to push its sustainability goals that aligns with the United Nations’ Sustainable Development Goals.