Gogoro Inc. (NASDAQ:GGR) Q2 2024 Earnings Conference Call August 15, 2024 8:00 AM ET

Company Participants

Annie Liao - Investor Relations
Horace Luke - Chief Executive Officer
Bruce Aitken - Chief Financial Officer

Conference Call Participants

Long Lin - The Benchmark Company

Operator

Welcome to the Gogoro Inc. 2024 Q2 Earnings Call. This conference call is now being recorded and broadcasted live over the Internet. Webcast replay will be available within an hour after the conference is finished.

I would now like to turn the call over to the Gogoro team.

Unidentified Company Representative

Welcome to Gogoro's 2024 Q2 Earnings Conference Call hosted by our CEO, Horace Luke; and CFO, Bruce Aitken. Hopefully, by now, you've seen our earnings. If you haven't, it is available on the Investor Relations tab of our website, investor.gogoro.com. We are hosting our earnings conference call via live webcast through Gogoro's website, where you can also download all the earnings release materials. We will also be displaying the materials on the webcast screen as we go. If you are joining us through the conference call, your dial-in lines are in listen-only mode. After Horace provides some of the business highlights from Q2, Bruce will go a bit deeper into the Q2 financial results. And then we will open the line for Q&A and answer as many questions as time allows.

As usual, we would like to remind everyone that today's discussions may contain forward-looking statements that are subject to risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Please refer to the forward-looking statements that appear in our press release and investor presentation provided today.

And now, I would like to turn the call over to Horace.

Horace Luke

Thanks for joining our call today. We're pleased to have this opportunity to meet with you and provide a summary of our second quarter 2024 results. I'm pleased to share with you that we announced tow substantial investments in the second quarter, which totaled $100 million with $75 million cash received. We further entered into an MOU with Sumitomo Corp. and Sumitomo Mitsui Finance and Leasing Company, SMFL to facilitate a more asset-light international expansion.

Gold Sino Assets Limited made a $50 million equity investment in Gogoro. Our partnership with Dr. Yin of Gold Sino and [Ruantech] (ph) Group dates back to Gogoro's founding. This investment reinforces our strategic direction, and we are committed to building on the success of our revolutionary battery swapping ecosystem. We continue to lead the transformation of two wheel urban transportation shaping cities of the future to be smart, sustainable and accessible. We are delivering on our vision as we continue to expand our leadership in Taiwan and other markets. It is crucial to maintain the resources and flexibility needed to operate efficiently, ensuring the delivery of cutting-edge innovation, unparalleled customer experiences and exceptional value to our customers.