Gogoro and Belrise industries to invest Rs 20,617 crore in battery swapping infrastructure

-Companies plan to build a smart energy infrastructure in Maharashtra -Largest Green partnership worldwide

Aurangabad: The Government of Maharashtra has announced a strategic energy partnership with Taiwan's Gogoro Inc and Belrise Industries (erstwhile Badve Engineering Ltd) to set up battery swapping infrastructure in the State. The MoU agreement was signed at the Maharashtra pavilion at the ongoing World Economic Forum in Davos, Switzerland on Tuesday. Both companies plan a joint 50-50 partnership to invest Rs 20,617 crore over eight years with the state 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. The deployment is also expected to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain. In addition to the smart infrastructure, the partnership is also expected to foster smart electric vehicle manufacturing and assembly in the state. The MoU was signed between the company officials in the presence of Chief Minister Eknath Shinde and state industries minister Uday Samant.

World largest smart energy infrastructure

This will be the world’s largest and most innovative smart energy infrastructure to utilize battery swapping for solving the unique and distributed energy challenges we face daily. This project will enable new alternatives to fossil fuels. 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. That is why we truly believe in building open and accessible infrastructure that will uplift the entire ecosystem,” said Horace Luke, founder, and CEO of Gogoro.

New generation product and service

“Clean energy is the future, and now is the time for Indian businesses to begin their transition to a new model of sustainable operations. Today we are partnering with Gogoro, a global innovation leader in smart sustainable energy and Maharashtra government to deploy the largest portable battery swapping infrastructure of its kind to enable a new generation of products and services that Maharashtra’s residents can embrace,” said Shrikant Badve, Managing Director, Belrise Industries.

Remarkable moment for the state

“It is indeed a remarkable moment for the State, this will perhaps be the largest green partnership of this nature worldwide,” said CM Shinde.

Badve engineering now Belrise industries

Badve Engineering Ltd, a leading manufacturer of automotive systems and components, announced that it has rebranded Belrise Industries. The company's new name and branding reflect its commitment to innovation and growth, as well as its expanding focus on the development of cutting-edge technologies, said Badve.