DAVOS, Switzerland : India's Maharashtra state on Tuesday signed a deal with Taiwan's Gogoro and automotive system maker Belrise Industries under which the two firms will invest $2.5 billion over eight years in building battery-swapping infrastructure across the state.
Shares in Gogoro Inc rose 7.1 per cent after the deal was announced. The companies will start deploying the infrastructure this year and hope that it will encourage energy vehicle use as well as help to reduce energy costs for farmers. Devendra Fadnavis, Maharashtra's deputy chief minister, said the state hoped they would set an example for other states in India to transition to smarter sustainable cities.
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