Gogoro, a Taiwan-based global battery swapping ecosystems provider, and Belrise, a leading automotive systems manufacturer based in India, entered into a 50-50 joint venture on Tuesday that will invest around $2.5 billion over eight years with the Maharashtra government to build energy infrastructure across the State.

The companies plan to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage, Gogoro said.

Job opportunities

The deployment is also expected to accelerate job growth throughout the smart energy, electric vehicle (EV), and sustainability value chains. In addition to the smart infrastructure, the partnership is also expected to foster smart EV manufacturing and assembly in the State, it said.

“The future of smart, sustainable cities and countries is not about a single company or government, but about a community coming together to instill a new way of thinking and a new way of utilising sustainable energy in an open and accessible way. This partnership represents the future and this new way of thinking—not just about sustainable transportation, but about an entirely new system,” Horace Luke, Founder and CEO of Gogoro, said in a statement.

The deployments across the State will leverage Gogoro’s smart energy ecosystem, including smart battery stations, swapping technologies, and network management solutions, and will provide more innovations to the State, contributing in the areas of smart city design and development, energy storage stations and systems, smart mobility sharing, among other applications, he said.

“Clean energy is the future, and now is the time for Indian businesses to begin their transition to a new model of sustainable operations... we are embracing this for our own business, customers, and communities,” Shrikant Badve, Managing Director, Belrise Industries, said.