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    1585   KYG9830F1063

YADEA GROUP HOLDINGS LTD.

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Taiwan's Gogoro to enter China with battery-sharing partnership

05/18/2021 | 08:37pm EDT
FILE PHOTO: A woman charges battery of her electric scooter at the Gogoro's charging station in Taipei

TAIPEI (Reuters) - Taiwanese electric scooter vendor Gogoro said on Tuesday it has partnered with two Chinese two-wheel vehicle makers to offer its battery-sharing infrastructure, ramping up efforts to expand its overseas market.

Taipei-based Gogoro, known for its battery distribution network for riders, will build battery-swapping platforms in China in a partnership with Dachangjiang Group and Yadea Group Holdings.

In April, Gogoro announced a similar partnership with India's Hero MotoCorp to build battery-sharing infrastructure in the world's largest motorcycle market.

The two Chinese vendors will develop a range of two-wheel vehicles built for Gogoro's battery-swapping platform, the Taiwanese company said.

"We all share an ambitious vision for changing how China's cities operate in smarter and cleaner ways," Horace Luke, founder and chief executive officer of Gogoro, said in a statement.

Partly funded by investors including Singapore's Temasek and Japan's Sumitomo Corporation, Gogoro has in recent years launched scooter-sharing services in Europe and battery sharing infrastructure in Japan.

But domestically the company has trailed competitors Kymco and Sanyang Motor, which mainly produce lower-priced gasoline powered scooters, despite government subsidies on electric vehicles.

This story corrects to 'partnership', not 'joint venture', in paragraph 2.

(Reporting By Yimou Lee; Editing by Christian Schmollinger)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HERO MOTOCORP LIMITED 0.63% 2764.1 End-of-day quote.-11.10%
SANYANG MOTOR CO., LTD. 0.35% 28.75 End-of-day quote.-19.47%
YADEA GROUP HOLDINGS LTD. -4.17% 13.34 End-of-day quote.-16.73%
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Financials
Sales 2021 27 914 M 4 320 M 4 320 M
Net income 2021 1 455 M 225 M 225 M
Net cash 2021 9 155 M 1 417 M 1 417 M
P/E ratio 2021 27,3x
Yield 2021 1,43%
Capitalization 37 971 M 4 886 M 5 877 M
EV / Sales 2021 1,03x
EV / Sales 2022 0,55x
Nbr of Employees 8 184
Free-Float 36,4%
Chart YADEA GROUP HOLDINGS LTD.
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Yadea Group Holdings Ltd. Technical Analysis Chart | 1585 | KYG9830F1063 | MarketScreener
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Mean consensus BUY
Number of Analysts 7
Last Close Price 13,34 CNY
Average target price 22,13 CNY
Spread / Average Target 65,9%
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Managers and Directors
Jing Hong Qian Vice Chairman & Chief Executive Officer
Rui Shi Chief Financial Officer
Jing Gui Dong Chairman
Bi Guang Wu Independent Non-Executive Director
Zong Wei Li Independent Non-Executive Director
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