Partnership with Gogoro to accelerate Gogoro's Global Expansion~Strategic collaboration to enter the Indian and Southeast Asian markets~

Sumitomo Corporation has entered into a partnership with Gogoro Inc. (Nasdaq: GGR) to accelerate Gogoro’s business expansion through a partnership between Sumitomo Corporation, Gogoro, and Sumitomo Mitsui Finance and Leasing Co., Ltd. This collaboration, Sumitomo Corporation will support Gogoro's business expansion in Taiwan and entry into India, Southeast Asia and other global markets, while aiming to expand Sumitomo Corporation and Gogoro's new business opportunities.

Gogoro is a world leading technology and mobile energy company that offers swappable batteries for two-wheel electric scooters (“Smartscooter®”). Gogoro utilizes a network of battery swapping stations (“GoStation®”) to provide clean and easy access to portable power. By integrating big data from these ecosystems, the company optimizes energy efficiency, reliability, and safety, as well as battery longevity, and has helped Taiwan reduce CO2 emissions by more than 950,000 tons since the service began in 2015.

For Gogoro's further global expansion, Sumitomo will support Gogoro's global business development, including Taiwan, India, and Southeast Asia, by leveraging its global network and knowledge gained from its existing business.
SMFL will also promote expansion into the asset lifecycle management business utilizing Gogoro's batteries and related infrastructure, and carry out the Circular Economy strategy set forth in the medium-term management plan.

Sumitomo Corporation has been involved in a wide range of areas in the automotive industry both in Japan and overseas. In Asia, in December 2023, Sumitomo Corporation established a new company, PT. SMAS Mobility Indonesia in Indonesia, which is mainly engaged in the automobile rental business and fleet management services. In March 2024, we concluded a memorandum of understanding with Green and Smart Mobility Joint Stock Company, which operates EV cab and EV rental businesses in Vietnam, to consider collaboration in the mobility business.

Sumitomo Corporation supports the aims of the Asian Zero Emissions Community (AZEC), which was launched by the Japanese government and other Asian countries to promote decarbonization and energy transition, with the goal of making its business activities carbon neutral by 2050. By supporting Gogoro's expansion into Asian countries where the population is growing and the shift to electric EVs is rapidly progressing, Sumitomo aims to realize a decarbonized society through its high-performance batteries and charging stations.

About Sumitomo Corporation

Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong global network comprising 129 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo’s business philosophy passed down for over 400 years. Sumitomo Corporation

Sumitomo Media Contact:

Corporate Communications Department
TEL: 03-6285-3100

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