Why Gogoro Stock Won Investors' Hearts This Week
Already off to a good start in 2023, shares of electric vehicle battery-swapping specialist Gogoro (NASDAQ: GGR) kept motoring ahead this week. According to data compiled by S&P Global Market Intelligence, since the close of trading on Jan. 13, the company's shares have risen by slightly over 9%. Investors were encouraged by a new deal in India.
On Tuesday, Gogoro announced that, in partnership with privately held peer Belrise Industries, it has entered a "strategic energy partnership," with the Indian state of Maharashtra. The two companies will split 50/50 an estimated $2.5 billion investment into the build-out of energy infrastructure throughout the state.
Together, Gogoro and Belrise have ambitions to establish a network of electric vehicle (EV) battery-swapping and smart-battery stations that would serve as a major source of energy storage, and provide an ideal mobility solution.
Source Fool.com
