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On January 17, 2023, Gogoro Industries announced a 50-50 partnership with Belrise Industries to make a $2.5 Billion Smart Infrastructure Investment over 8 years in the state of Maharashtra. This investment is done to establish an unprecedented battery-swapping infrastructure. Both parties signed a non-binding MOU agreement at the Maharashtra pavilion, World Economic Forum in Davos, Switzerland.

Aim and Onset

The companies aim to build a smart energy infrastructure in Maharashtra that’s open and accessible and establishes battery switching and smart battery stations as a leading source for mobility and energy storehouse. This partnership will give a boost to the manufacturing and assembly of smart electric vehicles in the state which will further induce a rise in jobs throughout the smart energy, electric vehicle, and sustainable value chain.

This partnership expects to start deploying the battery-swapping infrastructure in 2023. The battery swapping infrastructure is a complex one and requires multiple smart battery stations so in order to develop it fully Gogoro and Belrise Industries have set a plan for 8 years.


Words from the officials

Hon. Chief Minister Shri. Eknath Shinde in recognition of this deal said “It is indeed a remarkable moment for the State, this will perhaps be the largest green partnership of this nature worldwide” which indicates that the state aims to move towards a smart and sustainable future, this is further reflected in Devendra Fadnavis, The Deputy Chief Minister of Maharashtra’s statement – “As a national leader in sustainability, it is important for the State of Maharashtra to embrace new technologies that are open, accessible and enable dynamic solutions that can accelerate the transition to smarter sustainable cities and set an example that other states in India can follow,”

Horace Luke, founder, and CEO of Gogoro in a press release said “Together, the State of Maharashtra, Belrise Industries, and Gogoro plan to shift energy usage and establish this new sustainable economy that will encourage jobs creation, establish new technical and sustainable industrial capabilities, and ultimately increase state exports.” These statements are really encouraging for all EV enthusiasts and environmentalists as they indicate that India is gradually moving towards a future that is sustainable.


With this partnership, Gogoro and Belrise Industries claim to start deployment of smart battery-swapping infrastructure in 2023 in 11 major cities of Maharashtra including Mumbai. It will be interesting to see how this infrastructure is implemented in a large state like Maharashtra with a population of 120M.


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