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Gogoro First Foreign Two-Wheeler OEM Recognized by SIDBI

by Abdullah
Gogoro First Foreign Two-Wheeler OEM Recognized by SIDBI

Gogoro has been recognized by the Small Industries Development Bank of India (SIDBI) as an empaneled OEM making its registered vehicles eligible for SIDBI’s EV financing programs.

Through this initiative, Gogoro becomes the first battery-swapping company and the first worldwide electric two-wheel OEM to be eligible for SIDBI empanelment. Gogoro wants to help and hasten India’s transition to electric cars (EVs) with this effort.

K Singh, Chief General Manager of SIDBI, said, “SIDBI’s “50K-EV4ECO” flagship mission is to foster electric vehicle adoption across India. As part of this initiative SIDBI provides innovative financing facilities to strengthen the EV ecosystem for commercial uses through direct and indirect lending that enables enterprises to transition to electric mobility.”

Horace Luke, CEO and founder of Gogoro, said, “This collaboration marks a significant step in creating a robust EV ecosystem in India by providing financing to support the transition to cleaner and greener transportation alternatives. The Government of India, under its EV30@30 mission, is taking meaningful steps forward to accelerate EV adoption. Initiatives like this help two-wheel EV buyers and fleet operators secure financial assistance at better terms to adopt Gogoro vehicles and battery swapping.”

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