Increased Operating Cash Flow
Operating cash flow increased from $4.8 million in the first half of 2024 to $15.2 million in the first half of 2025. This was attributed to cost savings initiatives and operational efficiencies.
Improved Adjusted Gross Margin
Adjusted gross margin improved to 17.0% from 13.5% in 2024, driven by increased network efficiency and extended lifespan of upgraded batteries.
Battery Swapping Business Revenue Growth
Revenue from the battery swapping business reached $37.6 million, an 8.5% increase year-over-year.
New Product Launches
New vehicle 'Ezzy' launched, with strong market traction, and a pay-as-you-go Gogoro network plan introduced to address consumer needs.
International Market Developments
Positive signs in international markets, with increased demand in Korea for B2B applications and progress in a joint venture with Castrol in Vietnam.