Gogoro Inc (GGR) 2023 Q3 法說會逐字稿

Welcome to the Gogoro Inc. 2023 Q3 Earnings Call. This session will be recorded. I would like to introduce Bruce Aitken, CFO of Gogoro, will kick us off.

歡迎參加 Gogoro Inc. 2023 年第三季財報電話會議。本次會議將被記錄。我想介紹一下Gogoro 財務長Bruce Aitken，他將為我們開場。

Thanks, operator, and thanks everyone for taking the time to join us today. I'm Bruce Aitken, CFO of Gogoro. And I'm pleased to welcome you to our third quarter 2023 earnings call.

謝謝接線員，也謝謝大家今天抽空加入我們。我是 Gogoro 的財務長 Bruce Aitken。我很高興歡迎您參加我們的 2023 年第三季財報電話會議。

Hopefully by now you've seen our earnings release. If you haven't, it's available on the Investor Relations tab of our website, investor.gogoro.com. We will also be displaying the materials on the webcast screen as we go.

希望現在您已經看到了我們的收益發布。如果您還沒有，可以在我們網站 Investor.gogoro.com 的「投資者關係」標籤上找到該資訊。我們還將在網路廣播螢幕上顯示這些資料。

We're looking forward to sharing our Q3 results as well as providing guidance on what we're seeing as the outlook for the remainder of 2023. Before our CEO, Horace Luke, shares, I'd like to introduce Michael Bowen of ICR, who will share the process for today's call and provide some important disclosures. Michael?

我們期待分享第三季的業績，並就我們對 2023 年剩餘時間的展望提供指導。在我們的執行長 Horace Luke 分享之前，我想介紹一下 ICR 的 Michael Bowen，誰將分享今天電話會議的流程並提供一些重要的披露。麥可？

Thank you, Bruce. I'm sure you're all looking forward to hearing from Horace and Bruce on behalf of Gogoro. But before that, allow me to remind you of a few things. You are all currently on mute. After Horace has given a brief overview of Gogoro and some of the business highlights from Q3, Bruce will go a bit deeper into the Q3 financial results, and then we will open the line for Q&A and answer as many questions as time allows.

謝謝你，布魯斯。我相信你們都期待著霍拉斯和布魯斯代表 Gogoro 的發言。但在此之前，請容許我提醒您幾件事。你們目前都處於靜音狀態。在 Horace 簡要概述了 Gogoro 以及第三季度的一些業務亮點之後，Bruce 將更深入地介紹第三季度的財務業績，然後我們將開通問答熱線，並在時間允許的情況下回答盡可能多的問題。

During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our third quarter 2023 results, management's expectations for our future financial and operational performance, the capabilities of our technology, projections of market opportunity and market share, the strategic cooperation and investments in India and the Philippines, our potential growth, headwinds facing the company, the company's business plans, including its expansion plans, the company's expectations relating to its growth in overseas markets, statements relating to the potential of our strategic collaborations, partnerships and joint ventures, statements regarding regulatory developments and our plans, prospects, and expectations.

在電話會議期間，我們將就我們的業務發表在適用的證券法範圍內可能被視為前瞻性的聲明，包括有關我們2023 年第三季度業績的聲明、管理層對我們未來財務和運營業績的預期、我們的技術能力、對市場機會和市場份額、在印度和菲律賓的策略合作和投資、我們的潛在成長、公司面臨的阻力、公司的業務計劃，包括其擴張計劃、公司對其海外市場成長的預期、有關的聲明我們的策略合作、夥伴關係和合資企業的潛力，有關監管發展以及我們的計劃、前景和期望的聲明。

These statements are not promises or guarantees and are subject to risks and uncertainties, which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed prior to market open today and in our SEC filings. We undertake no obligation to update forward-looking statements, except as required by law.

這些陳述不是承諾或保證，並且存在風險和不確定性，可能導致它們與實際結果有重大差異。有關這些風險的資訊可在我們今天開市前發布的收益新聞稿以及我們向 SEC 提交的文件中找到。除法律要求外，我們不承擔更新前瞻性聲明的義務。

Further, during the course of today's call, we will refer to certain adjusted financial measures. These non-IFRS financial measures should be considered in addition to, not as a substitute for or in isolation from IFRS measures. Additional information about these non-IFRS measures, including reconciliation of non-IFRS to comparable IFRS is included in our press release and investor presentation provided today.

此外，在今天的電話會議中，我們將提及某些調整後的財務措施。這些非國際財務報告準則財務措施應作為國際財務報告準則措施的補充，而不是替代或獨立於國際財務報告準則措施。有關這些非國際財務報告準則措施的更多信息，包括非國際財務報告準則與可比國際財務報告準則的調節，包含在我們今天提供的新聞稿和投資者介紹中。

Now, we will turn the call over to Horace.

現在，我們將把電話轉給霍勒斯。

Thanks, Bruce, and Michael. Thanks for joining our call today. We're pleased to have this opportunity to meet with you and provide an update on the third quarter 2023 results and for the rest of 2023. When we prepared for these quarterly results and remarks as well as answer your questions, we're always struck by the need to address the immediate quarter, but not to waiver from our mission.

謝謝布魯斯和邁克爾。感謝您今天加入我們的電話會議。我們很高興有機會與您會面，並提供 2023 年第三季業績和 2023 年剩餘時間的最新資訊。當我們準備這些季度業績和評論並回答您的問題時，我們總是感到震驚需要解決當前季度的問題，但不能放棄我們的使命。

Quarters go up and down, results vary, but our mission remains unchanged. We're seeking to put smart swappable power in the reach of every urban rider in the world. This is a bold mission. One we are committed to. We seek to advance that cause every day. And as we've stated many times, we believe we are on the right path.

季度有起有落，結果有所不同，但我們的使命始終不變。我們致力於讓世界上每個城市騎士都能使用智慧可更換電源。這是一個大膽的使命。我們致力於這項目標。我們每天都致力於推進這項事業。正如我們多次說過的，我們相信我們走在正確的道路上。

One at a time, individual riders are selecting a better, more sustainable, more data-driven riding experience by choosing to adopt the Gogoro battery swapping system. We know that our technology can change the world. In the ever-evolving mobility landscape, the macro message is clear. It is time for a sustainable shift. As our world faces growing environmental challenges, a fundamental transformation in our approach to mobility is imperative.

每位騎士都透過選擇採用 Gogoro 電池交換系統來選擇更好、更永續、更數據驅動的騎乘體驗。我們知道我們的技術可以改變世界。在不斷發展的行動出行領域，宏觀資訊是明確的。現在是進行永續轉變的時候了。隨著我們的世界面臨日益嚴峻的環境挑戰，我們的出行方式必須進行根本性轉變。

Across many regions, this shift to electric vehicles and EV second-life use are gaining momentum even in the face of legacy technologies. As stated last quarter, the long-term future remains bright despite some near-term challenges, and we remain excited for the future of vehicle and infrastructure electrification. We see a world where 2-wheel electric vehicle and battery swapping are affordable, stylish, and readily available, revolutionizing urban mobility while significantly reducing the environmental footprint. Similar to last quarter, the macroeconomic environment in Q3 has continued to be challenging, but we remain confident that customer interest remains high in the markets we serve and in new and prospective markets.

在許多地區，即使面對傳統技術，向電動車和電動車二次利用的轉變仍在增強勢頭。正如上季所述，儘管近期存在一些挑戰，但長期未來仍然光明，我們仍然對車輛和基礎設施電氣化的未來感到興奮。我們看到，兩輪電動車和電池更換價格實惠、時尚且易於使用，將徹底改變城市交通，同時大幅減少環境足跡。與上季類似，第三季的宏觀經濟環境仍然充滿挑戰，但我們仍然相信，客戶對我們服務的市場以及新市場和潛在市場的興趣仍然很高。

Let me begin with a few recent highlights from Q3. We will elaborate on these in more detail, but I do want to start with some good news. In October, we launched our new CrossOver vehicle in the Taiwan market, a 2-wheel electric SUV. CrossOver is a new breed of versatile rugged vehicle that can be customized for different riders' personal use cases and needs.

讓我先介紹第三季的一些近期亮點。我們將更詳細地闡述這些內容，但我確實想從一些好消息開始。 10月，我們在台灣市場推出了新款CrossOver汽車，一款兩輪電動SUV。 CrossOver 是一種新型多功能堅固型車輛，可根據不同騎士的個人使用情況和需求進行客製化。

Our India vehicle factory is now up and running, and we've delivered our first made in India vehicle samples to B2B customers there. This is the first of our B2B-focused vehicles, which will include locally sourced components and is assembled in India. We'll be commercially launching that vehicle later this quarter. We've also announced an MOU with HPCL, a large Indian gas retailer to place GoStation at their station across India.

我們的印度汽車工廠現已投入運營，我們已向那裡的 B2B 客戶交付了第一批印度製造的汽車樣品。這是我們第一款專注於 B2B 的車輛，將包括本地採購的零件並在印度組裝。我們將在本季稍後將該車輛投入商業市場。我們也宣布與印度大型天然氣零售商 HPCL 簽署諒解備忘錄，將 GoStation 安裝在遍布印度的加油站。

We launched a new Gogoro Experience Center in the Philippines together with Ayala Group, Globe Telecom and 917 Ventures with services going live before the end of the year. We also attended the Japan Mobility show together with MIH, Foxconn's EV consortium and demonstrated a 4-wheel concept car, which has both a fixed battery as well as Gogoro batteries. This lowers product cost with a smaller fixed battery, but doesn't impact range given the flexibility of the supplemental Gogoro batteries. We held our first post-pandemic Taipei Bridge community event.

我們與 Ayala Group、Globe Telecom 和 917 Ventures 合作在菲律賓推出了新的 Gogoro 體驗中心，並於年底前投入使用。我們還與富士康的電動車聯盟 MIH 一起參加了 Japan Mobility 展會，並展示了一款 4 輪概念車，既配備固定電池，也配備 Gogoro 電池。這樣可以使用較小的固定電池來降低產品成本，但考慮到 Gogoro 補充電池的靈活性，不會影響續航里程。我們舉辦了疫情後的第一次台北橋社區活動。

Over 2,000 Gogoro riders joined us at a Halloween night party and ride through Taipei Street, celebrating the ongoing transformation of urban mobility in Taiwan. We partnered with Apple on 2 new features. Our riders can now add a digital scooter key to the Apple Wallet on their iPhone and Apple Watch and use their phone or watch as their vehicle key.

超過 2,000 名 Gogoro 騎手與我們一起參加萬聖節之夜派對，並騎行穿過台北街，慶祝台灣城市交通的持續變革。我們與 Apple 合作開發了 2 項新功能。我們的騎士現在可以將數位滑板車鑰匙添加到 iPhone 和 Apple Watch 上的 Apple Wallet，並使用手機或手錶作為車鑰匙。

And in addition, we also work with Apple to integrate our vehicles into Apple's Find My feature across the device ecosystem. This is the world's first for 2-wheeler integration for both Apple and Gogoro.

此外，我們還與 Apple 合作，將我們的車輛整合到 Apple 在整個設備生態系統中的「尋找我的」功能。這是世界上第一個為 Apple 和 Gogoro 整合兩輪車的專案。

Lastly, we are honored to be recognized as one of MIT Technology reviews 2023, 15 Climate Tech Companies to Watch. Gogoro has always pushed the envelope on what is possible in the electric mobility space, and we'll keep doing so with new products, new software capabilities and new partnerships.

最後，我們很榮幸被評為 2023 年麻省理工學院技術評論「值得關注的 15 家氣候技術公司」之一。 Gogoro 始終致力於推動電動車領域的發展，我們將繼續透過新產品、新軟體功能和新合作夥伴關係來實現這一目標。

As always, the team is working hard and despite the highlighted accomplishment, we're never satisfied. We'll continue to innovate and deliver new services and capabilities for existing customers and new vehicles to target new customers in new markets.

一如既往，團隊正在努力工作，儘管取得了突出的成就，但我們從不滿足。我們將繼續創新，為現有客戶和新車提供新的服務和功能，以瞄準新市場的新客戶。

Despite these strides forward, our core market of Taiwan continued to be challenging. Taiwan scooter market remains very competitive. Taiwan's macroeconomic environment continues to have a significant impact on consumer sentiment. Intense price competition continues as ICE manufacturers strive to maintain their market position and attract cost-conscious customers and government subsidies for ICE vehicles continue to be a barrier to EV adoption.

儘管取得了這些進步，我們的台灣核心市場仍然面臨挑戰。台灣踏板車市場仍然競爭激烈。台灣的宏觀經濟環境持續對消費者信心產生重大影響。隨著內燃機製造商努力維持其市場地位並吸引註重成本的客戶，激烈的價格競爭仍在繼續，而政府對內燃機汽車的補貼仍然是電動車採用的障礙。

In Q3, the total number of registered scooters in Taiwan was 242,944, up 17% from Q3 2022. Through September 2023, the total number of registered scooter was 606,691, up 14% compared to 2022. The total number of registered electric scooter in Q3 in Taiwan was 20,815 units, down from 23,926 units in Q3 of last year. Of these electric scooters, approximately 17,314 were Gogoro powered vehicles and 15,302 were Gogoro branded vehicles. We attribute this slowing of electric vehicle purchase to the price competition from ICE vehicle makers.

第三季度，台灣註冊滑板車總數為242,944 輛，比2022 年第三季度增長17%。截至2023 年9 月，註冊滑板車總數為606,691 輛，比2022 年增長14%。第三季度註冊電動滑板汽車總數台灣地區的保有量為 20,815 台，低於去年第三季的 23,926 台。在這些電動滑板車中，約 17,314 輛為 Gogoro 動力車輛，15,302 輛為 Gogoro 品牌車輛。我們將電動車購買放緩歸因於內燃機汽車製造商的價格競爭。

While unable to deliver competing electric vehicles, they're competing premium price and attracting the highly price conscious consumer segment with pricing power, scale and the ongoing government subsidies provided for the retirement of a gas vehicle.

雖然無法提供具有競爭力的電動車，但它們正在競爭溢價，並憑藉定價能力、規模以及為燃油汽車退役提供的持續政府補貼來吸引對價格高度敏感的消費者群體。

Any replacement gas vehicle will be on the road for 10 years or more, impeding the government's ability to achieve the net 0 targets. Climate change and achieving net 0 emission have become shared global challenges. The Taiwan government has declared its commitment to achieve net 0 commission by 2050. And all new 2-wheel and 4-wheel passenger vehicle will be electric by 2040. As also outlined that 35% of all new vehicles will be electric by 2030 and 70% by 2035. We are working on a number of initiatives to spur growth and meet these government objectives as the adoption rate of electric scooter is not keeping pace with the government's goals.

任何替代燃氣汽車都將在道路上行駛 10 年或更長時間，這會阻礙政府實現淨零排放目標的能力。氣候變遷和實現淨零排放已成為全球共同挑戰。台灣政府已宣布承諾到2050 年淨零佣金。到2040 年，所有新的2 輪和4 輪乘用車都將實現電動化。同時也指出，到2030 年，所有新車的35% 將是電動化，70 年到 2035 年，我們正在採取一系列措施來刺激成長並實現這些政府目標，因為電動滑板車的採用率並沒有跟上政府的目標。

Clearly, the ongoing government subsidies for ICE vehicle is an obstacle to the EV adoption that needs to be changed. We are committed to substantial investment in our marketing and channel touch points in Taiwan and are on track with our target of rolling out 150 additional Gogoro Quick service stores by the end of the year.

顯然，政府對內燃機汽車的持續補貼是電動車採用的障礙，需要改變。我們致力於對台灣的營銷和通路接觸點進行大量投資，並有望實現在年底前開設 150 家 Gogoro Quick 服務店的目標。

Gogoro Quick service stores are smaller, more flexible and these shops service both EV as well as ICE vehicles, creating opportunities for existing ICE service workers to become certified to also repair Gogoro vehicles and ensure their livelihood in a changing era of mobility. As our installed base broadens, we want customers to be able to easily find a great service experience.

Gogoro Quick 服務店規模更小、更靈活，這些商店同時為電動車和內燃機汽車提供服務，為現有的內燃機汽車服務人員創造了機會，讓他們獲得維修Gogoro 車輛的認證，並確保他們在不斷變化的移動時代的生計。隨著我們的安裝基礎不斷擴大，我們希望客戶能夠輕鬆找到優質的服務體驗。

In addition, we are actively diversifying our product line and anticipate several significant vehicle introductions in the upcoming months. These new additions will broaden our product range at the high end of the performance stack as well as provide a compelling EV experience at the sweet spot of affordability. These products can serve the Taiwan market, but will also have broader global appeal.

此外，我們正在積極實現產品線多元化，並預計在未來幾個月內推出幾款重要的車輛。這些新增功能將擴大我們在高端性能堆疊的產品範圍，並在經濟實惠的最佳位置提供引人注目的電動車體驗。這些產品可以服務台灣市場，但也將具有更廣泛的全球吸引力。

We continue to scale the Gogoro Network. In Q3, we increased the total number of GoStation locations to 2,570 in Taiwan. Most of these locations that we added are Super GoStations, able to serve our growing customer base more efficiently.

我們繼續擴展 Gogoro 網路。第三季度，我們將台灣的 GoStation 地點總數增加至 2,570 個。我們新增的大多數網站都是超級 GoStation，能夠更有效地為我們不斷成長的客戶群提供服務。

Through our collaboration with a leading innovative energy service and Virtual Power Plant provider, Enel X, we have successfully deployed over 1,000 locations and integrated 2,500 battery swapping stations into the Enel X Virtual Power Plant or what we call VPP across Taiwan.

透過與領先的創新能源服務和虛擬發電廠供應商Enel X 的合作，我們已成功部署了1,000 多個地點，並將2,500 個電池交換站整合到全台灣的Enel X 虛擬發電廠或我們所說的VPP 中。

Additionally, we continue to demonstrate the growth of additional use cases for Gogoro Smart Batteries including 655 smart parking meters and 187 smart traffic signals, UPS backup across Taipei's major intersections, which are now live and operational. We have also recently won a government bid to build and demonstrate energy storage, which would be deployed in a variety of applications. This is another great demonstration of the flexibility and use cases for Gogoro Smart Batteries for second life utilization to generate additional second life revenue beyond mobility.

此外，我們繼續展示 Gogoro 智慧電池其他用例的成長，包括 655 個智慧停車計時器和 187 個智慧交通號誌、台北主要十字路口的 UPS 備援，這些現已投入運作。我們最近也贏得了政府的建設和示範能源儲存投標，該能源儲存將部署在各種應用中。這是 Gogoro 智慧電池二次利用的靈活性和用例的又一次精彩展示，可在行動性之外產生額外的二次利用收入。

Community is important to us. We're building a community of like-minded socially conscious consumers who want a great riding experience, a great refueling experience via our almost instant Swap & Go service, but also want to play their part to address the challenges of urban mobility and sustainability. We built communities through a variety of events.

社區對我們很重要。我們正在建立一個由志同道合、具有社會意識的消費者組成的社區，他們希望透過我們幾乎即時的Swap & Go 服務獲得出色的騎行體驗和加油體驗，同時也希望發揮自己的作用來應對城市交通和可持續發展的挑戰。我們透過各種活動建立了社區。

Once a customer has become a Gogoro rider, they frequently engage broadly not only with the Gogoro community, but with other causes such as the increased use of alternative energy, engagement on climate challenges and other local issues. After a 3-year hiatus, our flagship Taipei Bridge community event made a strong comeback on October 28.

一旦客戶成為 Gogoro 騎手，他們不僅會經常與 Gogoro 社區廣泛接觸，還會參與其他事業，例如增加替代能源的使用、參與應對氣候挑戰和其他當地問題。時隔三年後，我們的旗艦台北橋社區活動於 10 月 28 日強勢回歸。

And for the first time, we hosted a Halloween themed Costume Night. The event attracted over 2,000 Gogoro and partner vehicle owners, GoShare users and electric vehicle enthusiasts from all over Taiwan. The grand finale was the night ride on the Taipei Bridge, which saw more than 1,500 electric scooters, making 0 noise, 0 fume and marking for a successful and funding conclusion to the ride.

我們第一次舉辦了萬聖節主題的服裝之夜。這項活動吸引了超過2,000名來自台灣各地的Gogoro及合作夥伴車主、GoShare用戶以及電動車愛好者。最後的壓軸戲是台北大橋夜間騎行，超過1,500輛電動滑板車，零噪音、零煙霧，為本次騎行劃上了圓滿的句號。

We aim to let more consumers understand and enjoy the positive influence of adopting electric scooters. We owe our success to all the support and passion of our more than 2.6 million Gogoro and GoShare users. We are continuing our effort to provide innovative products and top-notch services to enhance the quality of life and the environment. We regularly refresh our product road map and the new products and services introduced in Q3. These products will be delivered in volume throughout Q4.

我們的目標是讓更多的消費者了解並享受使用電動滑板車的正面影響。我們的成功歸功於超過 260 萬 Gogoro 和 GoShare 用戶的支持和熱情。我們將繼續努力提供創新產品和一流服務，以提高生活品質和環境。我們定期刷新我們的產品路線圖以及第三季推出的新產品和服務。這些產品將在第四季度批量交付。

In late July, we launched a collaboration with famous Japanese designer Naoto Fukasawa, and the MUJI brand. The collaboration includes the newly designed Gogoro VIVA ME and the Gogoro VIVA MIX ME, along with a range of merchandise and accessories. These vehicles have been very popular with our customers who appreciate the design simplicity and the use of recycled polypropylene panels made from plastic waste.

7月下旬，我們與日本著名設計師深澤直人、無印良品品牌展開了合作。此次合作包括全新設計的 Gogoro VIVA ME 和 Gogoro VIVA MIX ME，以及一系列商品和配件。這些車輛非常受我們客戶的歡迎，他們欣賞設計的簡單性和使用由塑膠廢料製成的回收聚丙烯面板。

These plastic waste was partially supplied by Gogoro and MUJI customers. These are examples of how Gogoro's products are not just 2-wheelers, but our product is seeking to address larger issues of pollution, waste and allow community members to make a difference while also getting from point to point in their daily lives. These are small but meaningful steps in creating a more sustainable community in future.

這些塑膠垃圾部分由 Gogoro 和 MUJI 客戶提供。這些例子說明 Gogoro 的產品不僅僅是兩輪車，而且我們的產品正在尋求解決更大的污染、浪費問題，並讓社區成員在日常生活中從一點到另一點發揮作用。這些都是小而有意義的步驟，有助於在未來創造一個更永續的社區。

Last month, we unveiled the all-new Gogoro CrossOver Smartscooter, marking the debut of our first 2-wheel SUV. Engineered to be rugged, perfect for a heavy workload and super adaptable, CrossOver riders can personalize and customize their vehicle with a wide range of accessories and over 100 color combinations.

上個月，我們推出了全新 Gogoro CrossOver Smartscooter，標誌著我們首款兩輪 SUV 的首次亮相。 CrossOver 的設計堅固耐用，非常適合繁重的工作負載，並且具有超強的適應性，CrossOver 騎手可以使用各種配件和 100 多種顏色組合來個性化和定制他們的車輛。

Built on a brand-new design all-terrain frame, they combined increased steadiness with a range of storage and riding capabilities. We can expect to see CrossOver on the road before end of this month.

它們採用全新設計的全地形車架，將增強的穩定性與一系列存儲和騎行功能結合。我們預計將在本月底前看到 CrossOver 上路。

Last week, we announced a collaboration with Apple to integrate our digital scooter key in Apple Wallet and Apple Find My network capabilities into our Smartscooter. Our riders can now add a scooter key to Apple Wallet on their iPhone and Apple Watch, enhancing the riding experience by offering a seamless and touchless solution while also offering additional security and privacy advantages. We're excited to be introducing the first 2-wheelers in the world that support Apple scooter key in Apple Wallet.

上週，我們宣布與 Apple 合作，將 Apple Wallet 中的數位滑板車鑰匙和 Apple Find My 網路功能整合到我們的 Smartscooter 中。我們的騎士現在可以在 iPhone 和 Apple Watch 上的 Apple Wallet 中添加滑板車鑰匙，透過提供無縫和非接觸式解決方案來增強騎行體驗，同時還提供額外的安全和隱私優勢。我們很高興推出世界上第一款支援 Apple Wallet 中的 Apple 滑板車鑰匙的兩輪車。

This is not only available on new Smartscooters, but it will also be available to more than 300,000 existing Gogoro customers in Taiwan. We also announced that in the coming months, selected Smartscooter owners will be able to use Apple Find My feature to locate their vehicles.

這不僅適用於新的 Smartscooters，也將提供給台灣超過 30 萬名 Gogoro 現有客戶。我們還宣布，在未來幾個月內，選定的 Smartscooter 車主將能夠使用 Apple Find My 功能來定位他們的車輛。

Both of these technologies are initially available in Taiwan, but we will also be rolling them out to other markets in the future. We're always looking for ways to improve and provide more innovative, smarter, and more convenient riding experiences to our customers.

這兩項技術最初都在台灣推出，但我們將來也會推廣到其他市場。我們一直在尋找改進方法，為客戶提供更創新、更智慧、更便利的騎乘體驗。

Over the past few weeks, we participate in the Japanese Mobility Show within the MIH consortium booth. The MIH consortium has an open EV ecosystem that promotes collaboration in the mobility industry. During the event, we demonstrated our industry-leading battery swapping technology alongside with our new CrossOver and MUJI scooter.

在過去的幾周里，我們在 MIH 聯盟展位內參加了日本移動展。 MIH 聯盟擁有一個開放的電動車生態系統，可促進行動產業的合作。活動期間，我們展示了業界領先的電池交換技術以及新的 CrossOver 和 MUJI 滑板車。

Additionally, MIH unveiled the much anticipated Project X concept car. The Project X, which features a unique fixed battery system integrated with Gogoro Smart Batteries that uses Gogoro battery swapping, a significant step in addressing user concerns about urban range anxiety. This marks Gogoro's first entrance into 4-wheel transportation and is another significant milestone.

此外，MIH 還推出了備受期待的 Project X 概念車。 Project X 具有與 Gogoro 智慧電池整合的獨特固定電池系統，使用 Gogoro 電池交換，這是解決用戶對城市範圍焦慮的擔憂的重要一步。這標誌著 Gogoro 首次涉足四輪交通工具領域，也是另一個重要的里程碑。

Last month, MIT Technology Review named Gogoro as one of the 2023, 15 Climate Tech Companies to Watch. The award spotlights businesses that possess significant potential to make substantial reduction in greenhouse gas emission or tackle the challenges of global warming. We are honored to receive this recognition and congratulate the other winners as well. Collectively, we can make it different for the future.

上個月，《麻省理工科技評論》將 Gogoro 評為 2023 年值得關注的 15 家氣候科技公司之一。該獎項旨在表彰那些在大幅減少溫室氣體排放或應對全球暖化挑戰方面具有巨大潛力的企業。我們很榮幸獲得這項認可，並祝賀其他獲獎者。共同努力，我們可以讓未來變得不同。

In September, we're delighted to announce a new Gogoro concept store in Taiwan. This store is uniquely centered around the use of recycled glass material, emphasizing the importance of second life material and our continued commitment to the sustainable reuse of resources, making Gogoro retail experience relevant to the local community and promoting the awareness of sustainability. We continue to use 40% to 50% renewable energy in our Gogoro factories and are committed to increase the number of fully renewable powered supplied retail stores in our channel.

九月，我們很高興地宣佈在台灣開設一家新的 Gogoro 概念店。這家商店以回收玻璃材料的使用為中心，強調二次生命材料的重要性以及我們對資源可持續再利用的持續承諾，使 Gogoro 的零售體驗與當地社區息息相關，並提高可持續發展意識。我們繼續在 Gogoro 工廠使用 40% 至 50% 的可再生能源，並致力於增加我們渠道中完全可再生能源供電的零售店的數量。

With that high-level overview of our Q3 activities and results, I'd like to invite Bruce to provide an update on our international plans as well as financial update.

在對我們第三季的活動和結果進行了高度概述後，我想邀請布魯斯提供有關我們國際計劃和財務最新情況的最新資訊。

Thanks, Horace. We are actively expanding our presence internationally with a clear focus on our commercial launch in India, but we're also launching in the Philippines and continue to expand our 12 city operation in Korea as well as maintaining pilots in other markets.

謝謝，霍拉斯。我們正在積極拓展我們的國際業務，重點關注在印度的商業發布，但我們也在菲律賓開展業務，並繼續擴大我們在韓國 12 個城市的業務，並在其他市場維持試點。

Our manufacturing capabilities in India are established, and we are manufacturing our first vehicles using locally sourced components, which readies us for India's FAME II incentive program, which is an incentive scheme for manufacturers of EVs intended by the government to spur EV adoption.

我們在印度的製造能力已經建立，我們正在使用本地採購的零件來製造第一批車輛，這為我們為印度的FAME II 激勵計劃做好了準備，該計劃是政府旨在刺激電動車採用的電動汽車製造商的激勵計劃。

We anticipate beginning our smart battery pack manufacturing in the first half of 2024, and we're thankful to the government of Maharashtra for their ongoing support as well as to our suppliers that are working with us to manufacture locally in India. We've made a rugged, high-quality vehicle that meets local market pricing demands. The value proposition for a high-quality vehicle and for battery swapping is most evident in the B2B market segment, where vehicle downtime for traditional charging isn't an option because of lost orders and lost revenue to both individual riders and fleet operators.

我們預計將於 2024 年上半年開始智慧電池組製造，我們感謝馬哈拉施特拉邦政府的持續支持，以及與我們合作在印度本地製造的供應商。我們製造了一款堅固耐用的高品質車輛，可滿足當地市場的定價需求。高品質車輛和電池更換的價值主張在 B2B 細分市場中最為明顯，在該細分市場中，由於訂單丟失以及個人乘客和車隊運營商的收入損失，車輛無法進行傳統充電而停機。

We're pleased to share that in the past few weeks, we've delivered our first vehicles to B2B partners for testing, and we will be announcing more commercialization details about our Smartscooter and Gogoro Network battery swapping launch soon.

我們很高興與大家分享，在過去的幾周里，我們已經向 B2B 合作夥伴交付了第一批車輛進行測試，並且我們將很快宣布有關 Smartscooter 和 Gogoro Network 電池交換推出的更多商業化細節。

As we launch services in new cities, ensuring sufficient swap station locations exist to meet customer needs and operate an effective Gogoro Network is critical. We can place stations at B2B delivery hubs, but open stations are a critical part of the overall infrastructure build-out as well.

當我們在新城市推出服務時，確保有足夠的交換站位置以滿足客戶需求並運作有效的 Gogoro 網路至關重要。我們可以在 B2B 交付中心放置站點，但開放站點也是整體基礎設施建設的重要組成部分。

Last week, we announced a significant MOU with Hindustan Petroleum Corporation Limited, or HPCL, one of India's leading oil companies to roll out Gogoro battery swapping stations at thousands of HPCL gas stations across India in the coming years, giving us potential access to HPCL's 21,000-plus retail locations, a large customer-facing footprint.

上週，我們宣布與印度斯坦石油公司(HPCL)（印度領先的石油公司之一）簽署了一項重要諒解備忘錄，未來幾年將在印度各地的數千個HPCL 加油站推出Gogoro 電池更換站，使我們有可能使用HPCL 的21,000 個加油站-加上零售地點，面向客戶的大量足跡。

Earlier this year, we formed a joint venture in the Philippines with market leaders, Ayala Corporation, Globe and 917 Ventures, Inc. to launch Gogoro Smartscooters and battery swapping in the Philippines starting with Manila.

今年早些時候，我們與市場領導者 Ayala Corporation、Globe 和 917 Ventures, Inc. 在菲律賓成立了一家合資企業，從馬尼拉開始在菲律賓推出 Gogoro 智慧滑板車和電池更換服務。

Just last week, we opened our first Gogoro Experience Center in Manila, which is located in the Greenbelt mall in Makati. The Gogoro Experience Center showcases both our vehicles and battery swapping. We welcome all of our Filipino fans to visit the store and personally experience Gogoro for yourself. This marks the beginning of our Philippines go-to-market campaign, and we plan to begin sales and deliveries in December.

就在上週，我們在馬尼拉開設了第一家 Gogoro 體驗中心，位於馬卡蒂的 Greenbelt 購物中心。 Gogoro 體驗中心展示了我們的車輛和電池交換。我們歡迎所有菲律賓粉絲蒞臨商店，親自體驗 Gogoro。這標誌著我們菲律賓市場推廣活動的開始，我們計劃於 12 月開始銷售和交付。

The Philippine government has demonstrated a commitment to electrification by reducing tariffs on imported batteries and swap stations to negligible levels. Extending that reduction to include 2-wheel vehicles would make a big difference in the pace of EV adoption in the Philippines.

菲律賓政府透過將進口電池和換電站的關稅降低至可以忽略不計的水平，展現了對電氣化的承諾。將這一削減範圍擴大到兩輪汽車，將對菲律賓電動車的採用速度產生重大影響。

In fact, import duties on 4-wheel vehicles have been removed for a period of 5 years to spur growth, and we hope the government will replicate this policy for 2-wheelers. This support would help speed the transition of Filipino consumers to clean electric vehicles and help with ongoing pollution challenges in densely populated Manila.

事實上，為了刺激成長，四輪汽車的進口關稅已經取消了五年，我們希望政府將這項政策複製到兩輪汽車上。這項支持將有助於加快菲律賓消費者向清潔電動車的過渡，並有助於應對人口稠密的馬尼拉持續存在的污染挑戰。

Our business in Korea is stable and growing. We now have GoStations deployed in 12 cities and our vehicles are powering deliveries and individual customers' needs across the country. I'm proud of the way the entire Gogoro team has rallied around our financial objectives. We have very intentionally monitored our cash position and conserved cash. We have aggressively sought to maintain our gross margin despite slightly reduced volume, and we have again delivered positive EBITDA for the 19th quarter in a row and also delivered positive operating cash.

我們在韓國的業務穩定且不斷成長。我們現在在 12 個城市部署了 GoStation，我們的車輛正在為全國各地的送貨和個人客戶的需求提供動力。我對整個 Gogoro 團隊圍繞我們的財務目標團結起來的方式感到自豪。我們非常有意識地監控我們的現金狀況並保存現金。儘管銷量略有下降，但我們仍積極尋求維持毛利率，並且我們再次連續第 19 個季度實現正 EBITDA，並實現正營運現金。

Despite the drop in Q3 revenue associated with lower manufacturing volumes, the balance of our financial results are quite positive. We will continue to focus on investments like international expansion that drive growth. We will continue to prioritize a healthy business rather than chase price competition, and we will continue to focus on efficiency of operations, including material costs, manufacturing costs, overhead and capital expenditures.

儘管第三季營收因產量下降而下降，但我們的財務表現平衡相當樂觀。我們將繼續專注於推動成長的國際擴張等投資。我們將繼續優先考慮健康的業務，而不是追逐價格競爭，我們將繼續專注於營運效率，包括材料成本、製造成本、管理費用和資本支出。

Fully 30% of our spending is now directed towards international growth with an even higher percentage of our R&D costs directed towards India. We now have a solid team in India. We have factory plans for both vehicle and battery packs, and we will be allocating capital in Q4 2023 and 2024 to continue to expand our GoStation network footprint.

現在，我們 30% 的支出都用於國際成長，其中更高比例的研發成本用於印度。我們現在在印度擁有一支堅實的團隊。我們有車輛和電池組的工廠計劃，我們將在 2023 年第四季和 2024 年分配資金，以繼續擴大我們的 GoStation 網路覆蓋範圍。

Turning to third quarter 2023 financial results. For the third quarter, total revenue was $91.8 million, down 10.2% year-over-year and down 6.5% year-over-year on a constant currency basis. Had the foreign exchange rates remained constant with the average rate of the same quarter last year, revenue would have been up by an additional $3.8 million.

轉向 2023 年第三季財務業績。第三季總營收為 9,180 萬美元，年減 10.2%，以固定匯率計算年減 6.5%。如果外匯匯率與去年同季的平均匯率維持不變，營收將額外增加 380 萬美元。

Sales of hardware and other revenue for the quarter was $58.2 million, down 19% year-over-year and down 15.2% year-over-year on a constant currency basis. Both electric powered 2-wheelers and powered by the Gogoro Network markets were negatively impacted by the result of deep discounts on internal combustion engine vehicles introduced by Taiwan scooter manufacturers in the third quarter.

該季度硬體銷售額和其他收入為 5,820 萬美元，年減 19%，以固定匯率計算年減 15.2%。由於台灣踏板車製造商第三季推出的內燃機車大幅折扣，電動兩輪車和 Gogoro Network 市場都受到了負面影響。

We refrained from participating in the price war as we believe that this approach is not in the best interest of Gogoro's long-term growth strategy. Compared to the same quarter last year, sales of all electric power 2-wheelers were down 13%, and Gogoro branded vehicles were down by 18%. Battery swapping service revenue for the third quarter was $33.6 million, up 10.4% year-over-year and up 14.1% year-over-year on a constant currency basis.

我們沒有參與價格戰，因為我們認為這種做法不符合 Gogoro 的長期成長策略的最佳利益。與去年同期相比，全電動兩輪車銷量下降13%，Gogoro品牌車輛銷售量下降18%。第三季換電服務營收為3,360萬美元，年增10.4%，以固定匯率計算年增14.1%。

Total subscribers at the end of the third quarter exceeded 570,000, up 12.9% from 505,000 subscribers at the end of the same quarter last year. The year-over-year increase in battery swapping service revenue was primarily due to our larger subscriber base compared to the same quarter last year and the high retention rate of our subscribers. We continue to see the strength of our subscription-based business model to accrue more customers to maximize our battery swapping network efficiency.

第三季末訂閱用戶總數超過57萬，比去年同季末的50.5萬成長12.9%。換電服務收入年增主要是由於我們的用戶基數較去年同期更大以及用戶保留率較高。我們繼續看到基於訂閱的業務模式的優勢，可以吸引更多客戶，從而最大限度地提高我們的電池交換網路效率。

For the third quarter, gross margin was 18.3%, up from 17.4% in the same quarter last year, while non-IFRS gross margin was 19.2%, down slightly from 20% in the same quarter last year. The favorable change in gross margin was driven by the improved cost efficiencies of Gogoro's battery swapping services and improvements in other operational efficiencies. This favorable change was partially offset by the higher production cost per vehicle due to limited volume by increased promotion cost per vehicle and changes in the mix of vehicles sold.

第三季毛利率為18.3%，高於去年同季的17.4%，非國際財務報告準則毛利率為19.2%，略低於去年同季的20%。毛利率的有利變化是由於 Gogoro 電池更換服務成本效率的提高以及其他營運效率的提高所推動的。這一有利的變化被每輛車的生產成本較高所部分抵消，因為每輛車的促銷成本增加以及銷售車輛結構的變化導致產量有限。

For the third quarter, net loss was $3.1 million, down $59.5 million from a net income of $56.4 million in the same quarter last year. The net loss was primarily due to a decrease of $66.6 million in the fair value of financial liabilities associated with outstanding earnout shares, earn-in shares and warrants compared to last year as a result of the decrease of Gogoro's stock price and also a $1 million decrease in gross profits due to lower revenue. The net loss was partially offset by an $8 million decrease in operating expenses, primarily consisting of a $2.1 million decrease in share-based compensation, a $4.7 million decrease in expenses for sales and marketing programs, mainly due to our efforts in increasing marketing efficiency and a $1 million decrease in research and development expenses.

第三季淨虧損為 310 萬美元，比去年同期的淨收入 5,640 萬美元減少了 5,950 萬美元。淨虧損主要是由於 Gogoro 股價下跌，導致與已發行盈利股票、盈利股票和認股權證相關的金融負債的公允價值比去年減少了 6660 萬美元，同時也減少了 100 萬美元。由於收入減少，毛利潤減少。淨虧損被營運費用減少 800 萬美元部分抵消，主要包括股權激勵費用減少 210 萬美元、銷售和行銷計劃費用減少 470 萬美元，這主要是由於我們努力提高行銷效率和研發費用減少 100 萬美元。

For the third quarter, adjusted EBITDA was $13.1 million, up from $9.2 million in the same quarter last year. The increase was primarily due to a $5.9 million decrease in operating expenses, excluding share-based compensation as a result of various cost savings initiatives. The increase was partially offset by a $2.9 million decrease in non-IFRS gross margin due to lower volume. We reduced operating cash outflow by $40.5 million compared to the same quarter last year by tightening our business operations and reducing working capital. We borrowed $72.8 million and paid back $63.4 million in bank loans in the third quarter to finance our investing activities. With $151.5 million cash balance at the end of the third quarter and additional credit facilities, we believe we have sufficient sources of funding to meet our near-term business growth objectives.

第三季調整後 EBITDA 為 1,310 萬美元，高於去年同期的 920 萬美元。這一增長主要是由於營運費用減少了 590 萬美元，其中不包括因各種成本節約措施而產生的基於股份的薪酬。這一增長被銷售下降導致的非國際財務報告準則毛利率下降 290 萬美元所部分抵銷。透過收緊業務營運和減少營運資金，我們的營運現金流比去年同期減少了 4,050 萬美元。第三季度，我們借入了 7,280 萬美元並償還了 6,340 萬美元的銀行貸款，為我們的投資活動提供資金。憑藉第三季末 1.515 億美元的現金餘額和額外的信貸額度，我們相信我們有足夠的資金來源來滿足我們的近期業務成長目標。

Based on the current market outlook, we are making no change to our estimated 2023 revenue guidance range of $340 million to $370 million. We also continue to estimate that Gogoro will generate approximately 95% of 2023 full year revenue from the Taiwan market.

根據目前的市場前景，我們不會改變 2023 年 3.4 億至 3.7 億美元的營收指引範圍。我們也繼續估計 Gogoro 2023 年全年收入的約 95% 將來自台灣市場。

With that financial update, I'll hand things back to Michael for Q&A.

更新財務資訊後，我會將事情交還給邁克爾進行問答。

(technical difficulty) color on India and the Philippine market's expansion plans and status. And when do you anticipate material sales from either market?

（技術難度） 彩談印度和菲律賓市場的擴張計畫和現況。您預計這兩個市場的材料銷售將在何時進行？

Thanks, Michael. I'll take that. I'll address India first and then the Philippines. We have a vehicle factory up and running in India, and as you saw in the presentation there, and we have made great progress towards our battery pack factory readiness, and we expect to be operational in the first half of 2024. We've already delivered samples of our locally sourced and assembled vehicles to our B2B partners and have already started to book some orders. We've also begun deploying GoStations in Delhi and will begin rolling out to other cities soon. We're extremely grateful to our suppliers, our partners and especially the government of Maharashtra, our prospective customers and all the participants in our pilot.

謝謝，麥可。我會接受的。我將首先談到印度，然後談到菲律賓。我們在印度建立並經營了一家汽車工廠，正如您在當地的演示中看到的那樣，我們在電池組工廠準備工作方面取得了巨大進展，我們預計將在 2024 年上半年投入運營。我們已經向我們的B2B 合作夥伴交付了我們在當地採購和組裝的車輛樣品，並已開始預訂一些訂單。我們也開始在德里部署 GoStations，並將很快開始推廣到其他城市。我們非常感謝我們的供應商、合作夥伴，特別是馬哈拉施特拉邦政府、我們的潛在客戶以及試點計畫的所有參與者。

We've learned a great deal about the Indian riding conditions through the pilot, and we used those learnings to ensure that our vehicle and a network offering will meet customers' expectations. The technology now I can say, is ready to go. In the Philippines, we've opened a Gogoro Experience Center through our joint venture with Ayala, Globe, and 917 Ventures. The GEC opening was a great start to our presence in the Manila and we'll be providing more details about our vehicle and network plans in the coming weeks.

我們透過試點了解了大量有關印度騎行條件的信息，並利用這些知識確保我們的車輛和網路產品能夠滿足客戶的期望。我現在可以說，這項技術已經準備就緒。在菲律賓，我們透過與 Ayala、Globe 和 917 Ventures 的合資企業開設了 Gogoro 體驗中心。 GEC 的開業是我們在馬尼拉開展業務的良好開端，我們將在未來幾週內提供有關我們的車輛和網路計劃的更多詳細資訊。

If you're in Manila, come to our Experience Center in the Greenbelt mall and see how cool Gogoro products are for yourself. You can even take one for a test ride, if you like. We've always said that Taiwan would represent approximately 95% of the revenue short term in 2023, and that is exactly the case. We expect revenue from international markets to grow in 2024 and provide a meaningful uplift to our total revenue overall.

如果您在馬尼拉，請前往我們位於 Greenbelt 購物中心的體驗中心，親身體驗 Gogoro 產品有多酷。如果您願意，甚至可以試乘一輛。我們一直說，到2023年，台灣將佔短期收入的約95%，事實確實如此。我們預計 2024 年國際市場的收入將成長，並對我們的整體總收入產生有意義的提升。

Okay. Thanks Horace. We also have another question. For the past quarters, you've shown good control on your financial metrics like margin, cash flow, EBITDA and trimming your net loss figures. Could you elaborate on whether you think you'll be able to keep that trend going?

好的。謝謝霍拉斯。我們還有另一個問題。在過去的幾個季度中，您對利潤率、現金流量、EBITDA 等財務指標表現出良好的控制力，並削減了淨虧損數字。您能否詳細說明您是否認為能夠維持這種趨勢？

Thanks, Michael. We've been working hard, as you can tell across the company to ensure that we exercise financial discipline. It's not just the finance team. It has to happen across our operations, across our international teams, across the entire employee team. And we've got alignment on that clear goal. We've got clear intention from each team member to think like an owner and to be financially responsible. So when volumes are down a bit or when other challenging circumstances arise, we have to keep that focus on our long-term financial stability. That includes establishing and executing to the right metrics. Some of which are the ones that you mentioned above. So we're closely tracking spending for efficiency. We're tracking EBITDA. And as mentioned, we've been EBITDA positive now for 19 consecutive quarters. We're making progress towards everyone's goal, including our own turning cash flow positive. So we're doing those things while focusing to invest for growth, both here in Taiwan, but also in international markets. We'll keep the focus. We'll keep working closely with the operations team to make wise investments, and we intend to continue the trend of solid financial results.

謝謝，麥可。正如您在整個公司範圍內所看到的那樣，我們一直在努力確保我們遵守財務紀律。這不僅僅是財務團隊。它必須發生在我們的營運、我們的國際團隊、整個員工團隊中。我們已經在這個明確的目標上達成了一致。我們每個團隊成員都明確表示要像所有者一樣思考並承擔財務責任。因此，當交易量略有下降或出現其他具有挑戰性的情況時，我們必須將重點放在長期金融穩定上。這包括建立和執行正確的指標。其中一些是您上面提到的。因此，我們正在密切追蹤效率支出。我們正在追蹤 EBITDA。如前所述，我們已連續 19 個季度實現 EBITDA 正值。我們正在朝著每個人的目標取得進展，包括我們自己的現金流轉正。因此，我們在做這些事情的同時，專注於台灣和國際市場的成長。我們將保持焦點。我們將繼續與營運團隊密切合作，做出明智的投資，我們打算繼續保持穩健的財務表現的趨勢。

All right. Thank you, Bruce, and Horace. So operator, could you please now open the line up for the Q&A session.

好的。謝謝布魯斯和霍勒斯。接線生，現在可以開始問答環節嗎？

(Operator Instructions) We have online questions from the audience. Gogoro batteries are the perfect size and capacity to power electric forklifts, lawnmowers, golf carts, and portable energy stations. Does Gogoro have any plans on selling your batteries to businesses and consumers around the world and going beyond battery subscriptions? This will help create diverse ecosystem of devices that Gogoro batteries can power like the way AA batteries have done?

（操作員說明）我們有觀眾在線上提問。 Gogoro 電池的尺寸和容量非常適合為電動堆高機、割草機、高爾夫球車和便攜式能源站提供動力。 Gogoro 是否有計劃向世界各地的企業和消費者銷售電池，而不僅僅是電池訂購？這將有助於創建 Gogoro 電池可以像 AA 電池一樣供電的多樣化設備生態系統？

Sure. This is a great question. We've always seen batteries as a module of portable power. Of course, with Gogoro today, you've seen us taking care of 2-wheel vehicles as well as 3-wheel vehicle. And very soon, you saw us just in the Tokyo Auto show, where we demonstrated how we can actually apply that to 4 wheelers as well. the batteries have always been just as you said, they are like AA form factor type of configuration where we're going to use a single battery or 2 batteries in parallel or in series or even 4 batteries in either all in series or in parallel or a 2x2 configuration.

當然。這是一個很好的問題。我們一直將電池視為便攜式電源的一個模組。當然，今天的 Gogoro，您已經看到我們既照顧 2 輪車輛，也照顧 3 輪車輛。很快，您就在東京車展上看到了我們，我們在那裡展示瞭如何將其實際應用到四輪車上。電池一直如您所說，它們就像 AA 形狀因子類型的配置，我們將使用單個電池或 2 個並聯或串聯電池，甚至 4 個電池全部串聯或並聯或2x2 配置。

Of course, this can empower a lot of different type of equipment, such as you mentioned, forklifts, golf carts and others. But at Gogoro, we are for the short term being, we are very, very focused on the largest opportunity ahead of us. Given that we are -- we have built the world's perhaps densest battery with the most amount of energy for the volume and the weight that it has. We believe that there is a great application to the mobility space, which happens to be one of the largest, of course, the opportunity, not only for financial opportunities, but also for impact opportunity where we can actually change countries like India or cities across Southeast Asia. We believe that that is out, at the moment, a very, very focused goal for us.

當然，這可以賦能許多不同類型的設備，例如你提到的堆高機、高爾夫球車等。但在 Gogoro，我們的短期目標是，我們非常非常關注擺在我們面前的最大機會。鑑於我們——我們已經建造了世界上可能是密度最大的電池，其體積和重量具有最多的能量。我們相信，行動領域有一個很好的應用，這恰好是最大的機會之一，當然，不僅是金融機會，而且是影響機會，我們可以真正改變印度等國家或世界各地的城市。東南亞。我們相信，目前這對我們來說是一個非常非常集中的目標。

But also at the same time, we are constantly talking with and planning for in 1 day, we will apply our battery to other configurations as well, other type of news as well. Thank you.

但同時，我們也不斷地討論和計劃，在一天之內，我們會將我們的電池應用於其他配置，以及其他類型的新聞。謝謝。

We do have another question from the online audience. Gogoro batteries have been proven to be safe and durable with years of real-world data. Do you have any plans on opening up your battery platform and selling batteries to other e-bikes manufacturers?

我們還有一個來自線上觀眾的問題。多年的實際數據證明 Gogoro 電池安全耐用。您是否有計劃開放電池平台並向其他電動自行車製造商銷售電池？

I'll take that as well, Bruce. I think the question of enabling, using our battery power and battery swapping system for others is exactly along our thesis. We have, of course, been partnering with Yamaha with Suzuki Taiwan with a motor, it's by Aeon with PGO and a number of other vehicle makers, a total of about 11 or 12 different vehicle makers across the world. The list keeps growing and growing and growing because they see the value of what our technology brings to them when they think about electrification of their fleet and their businesses. I think all of us can agree that there is an imminent change coming, especially around lighter weight urban mobility, where electrification is possible and will happen.

我也接受這個，布魯斯。我認為為其他人啟用、使用我們的電池電源和電池交換系統的問題正是我們的論文的主題。當然，我們一直在與雅馬哈、台灣鈴木、永旺、PGO 以及許多其他汽車製造商合作，全世界總共有大約 11 或 12 個不同的汽車製造商。名單不斷增長，因為當他們考慮車隊和業務的電氣化時，他們看到了我們的技術為他們帶來的價值。我認為我們所有人都同意，即將發生的變化，特別是在輕量化城市交通方面，電氣化是可能並且將會發生的。

And so we're working with these larger vehicle makers to bring our value of not only our battery but our battery swapping system that enable the consumer to get on board without having to worry about range anxiety, without having to worry about buying a battery, which not only is the purchase price of the battery, but also the replacement cost potentially when the battery needs the retirement.

因此，我們正在與這些較大的汽車製造商合作，不僅帶來我們的電池的價值，還帶來我們的電池交換系統的價值，使消費者能夠上車而不必擔心里程焦慮，而不必擔心購買電池，這不僅是電池的購買價格，而且是電池需要報廢時潛在的更換成本。

And also at the same time, providing city governments a great solution for safety and predictability as we put these stations and centralize our charging instead of scattering them all around the different parts of apartment buildings and all over town. We do constantly work with a number of other vehicle makers as well, planning for even a greater footprint, not only in different cities but also with different vehicle types and different brands across the world.

同時，當我們放置這些充電站並集中充電，而不是將它們分散在公寓大樓的不同部分和整個城鎮時，為市政府提供了一個很好的安全性和可預測性解決方案。我們也不斷與許多其他汽車製造商合作，規劃更大的足跡，不僅在不同的城市，而且在世界各地不同的車輛類型和不同的品牌。

(Operator Instructions) I see there are no further question at this time. I would like to hand the call back to Michael for closing.

（操作員說明）我發現目前沒有其他問題。我想將電話轉回給邁克爾以結束。

Okay. Thank you, operator. So at this time, we will hand the conference back over to Horace for a few closing remarks. Thank you.

好的。謝謝你，接線生。因此，此時，我們將把會議交還給賀拉斯（Horace）做一些總結發言。謝謝。

Thanks, Michael. I'm always energized by the chance to share with you our progress with all the investors that are on the call. In a tough market condition like we're facing today, we are focusing on continuing to deliver technology and solutions that customers want. This can take us in the shape of new vehicles or services, improve management of our Gogoro Network or the initiation of our services in new markets. We've launched a number of these new services and products in Q2 and Q3, and we'll keep doing so in the remainder of 2023 and into Q1 2024. At Gogoro, we believe it is a great time to be contributing to the transition to green urban mobility. And we appreciate your support along the way.

謝謝，麥可。有機會與所有與會的投資者分享我們的進展，我總是感到充滿活力。在我們今天面臨的嚴峻市場條件下，我們專注於繼續提供客戶所需的技術和解決方案。這可以讓我們推出新的車輛或服務，改善我們的 Gogoro 網路的管理或在新市場啟動我們的服務。我們在第二季和第三季推出了許多新服務和產品，我們將在 2023 年剩餘時間和 2024 年第一季繼續這樣做。在 Gogoro，我們相信現在是為轉型做出貢獻的好時機綠色城市交通。我們感謝您一路以來的支持。

Thank you for calling in today. Thank you.

感謝您今天打電話來。謝謝。

Ladies and gentlemen, that does conclude today's conference call. Thank you for your participation. You may now disconnect your lines.

女士們先生們，今天的電話會議到此結束。感謝您的參與。現在您可以斷開線路。