Reported 8 months ago
Following a recent $50 million investment from major shareholder Yen Horng Liang at the beginning of June, Gogoro announced on June 25 that it has received an investment from Castrol, a subsidiary of BP Group, with a total expected investment of $50 million, approximately NT$1.624 billion. Castrol Holdings, a subsidiary of Castrol, will subscribe to Gogoro's common stock with $25 million, acquiring about 5.72% shares in the first stage of investment. The second stage involves $25 million worth of convertible bonds, with the investment dependent on the completion status of certain transactions in their business cooperation. Castrol CEO Zhou Binbin stated that two-wheel vehicles are an important part of Castrol's global product line, highlighting the strategic significance of diversifying Gogoro's product line through investment and ensuring customers stay ahead in embracing new opportunities.
Source: YAHOO