Nasdaq-listed battery swapping company Gogoro on Monday said it has signed an initial pact with HPCL to set-up battery swapping stations across the country in the coming years.

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As part of the collaboration, Gogoro will develop a broad battery swapping infrastructure for electric two-wheelers, as it will roll out battery swapping stations across HPCL's retail outlets throughout the country, the company said in a statement.

HPCL (Hindustan Petroleum Corporation Ltd), a public sector oil marketing firm, has over 21,000 retail outlets, it added.

"We are announcing a partnership with HPCL to roll out thousands of Gogoro battery swapping stations across its retail outlets throughout the country in the coming years," Horace Luke, founder and CEO of Gogoro said.

India is in the early stages of a massive electric transformation of its urban two-wheeler transportation system, and it is increasingly evident that battery swapping is a critical component to broad adoption, so building out the swapping infrastructure is crucial, he added.

He further said that Gogoro is joining together with the Indian business community and national and local governments to deploy a battery swapping and electric vehicle ecosystem that is open, accessible and scalable.

"HPCL and Gogoro are partnering to develop a broad battery swapping infrastructure for two-wheeler vehicles that will both grow and sustain a leading electric vehicle ecosystem in India that is safe, clean and readily available across India's cities,” said Amit Garg, Director of Marketing at HPCL.

Gogoro, which has achieved nearly 500 million battery swaps to date, has developed a platform that HPCL can embrace and emulate, Garg added.

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