Gogoro Inc (睿能創意) yesterday launched two new electric scooters in collaboration with Japanese retailer Muji, extending the two companies’ partnership after introducing their first joint electric scooter three years ago.
Gogoro is also in discussions with Muji to sell the new electric scooters overseas, likely in Southeast Asia, where the Japanese firm has built an extensive footprint.
In Southeast Asia, Gogoro’s vehicles are currently available in India and Indonesia, with the Philippines its next target market by the end of this year.
Photo courtesy of Gogoro Inc
“Building a partnership with Muji helps expand our addressable market,” Gogoro CEO Horace Luke (陸學森) said yesterday, adding that the company is eager to reach out to people who shop at Muji stores.
The previous partnership with Muji helped Gogoro expand its customer base to younger female riders, the company said, hoping the latest collaboration would help it woo people who live a simple and sustainable life with its electric scooters.
Gogoro pioneered the use of recyclable polypropylene plastics for vehicle body panels in 2019 and plans to transition fully to renewable energy at its factories by 2050, the company said.
The new Gogoro VIVA ME and Gogoro VIVA MIX ME electric scooters adopt the classic Muji design elements — a unique rustic color palette and simple color tone philosophy to create a new urban mobility experience that is simple and comfortable yet unique, said designer Naoto Fukasawa, an advisory board member at Muji.
Gogoro plans to launch more models later this year to stimulate sales and regain market share, as a component shortage is no longer an issue for the industry.
In the electric scooter market, the company and its local partners saw their combined market share drop to 68.3 percent in the first half of this year from about 73 percent at the end of last year due to intensified competition from Kwang Yang Motor Co (光陽工業).
Sales of new electric scooters in Taiwan fell 5.2 percent year on year to about 36,000 units in the first half of the year, Gogoro said.
The penetration of electric scooters this year would be similar to last year’s 11 or 12 percent of total scooter sales, it said.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (US$7.8 billion) of the city’s currency, according to an alert sent on its Bloomberg page yesterday in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the local currency’s moves within its HK$7.75 to HK$7.85 per US dollar trading band. Heavy sales of the local dollar by
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to