Gogoro is “forced to wait for the finalization of incentive schemes” from the Indian government before ramping its vehicle sales and battery pack production in the country, co-founder and CEO Horace Luke said during the company’s Q2 earnings call on Thursday.
“We had forecasted revenue from India for 2024, but due to the delay in implementation in subsidies to include battery swapping vehicles, most of it is now projected for 2025,” the executive told investors.