Gogoro Inc. announced the signing of a non-binding memorandum of understanding (the MOU), the first step in establishing a new partnership with Sumitomo Corporation and Sumitomo Mitsui Finance and Leasing Co. Ltd. (SMFL) to accelerate Gogoro's global business expansion while providing Sumitomo and SMFL with new unique opportunities to expand their mobility business and second life battery use cases using Gogoro Smart Batteries and battery swapping. Gogoro utilizes big data from its innovative smart batteries and battery swapping platform to transform energy and make it more sustainable and accessible.

Gogoro tracks dozens of parameters like battery condition, population distribution, and environmental conditions in real-time that provide significant insights that are unique to Gogoro. With nearly a decade of real-world data and new inputs being analyzed with every passing momentum, Gogoro battery swapping gets smarter. The MOU signals Sumitomo and SMFL's interest to support Gogoro's global business expansion, by leveraging their global networks and knowledge gained from existing businesses.