(GGR) 2023 Q4 法說會逐字稿

Welcome to the Gogoro Inc. 2023 Q4 earnings call.

歡迎參加 Gogoro Inc. 2023 年第四季財報電話會議。

This conference call is now being recorded and broadcasted live over the Internet.

本次電話會議現已錄製並透過網路進行現場直播。

Webcast replay will be available within an hour after the conference is finished.

會議結束後一小時內將提供網路直播重播。

I'd like to turn the call over to the Gogoro team.

我想將電話轉給 Gogoro 團隊。

Welcome to Gogoro's 2023 Q4 earnings conference call hosted by our CEO, Horace Luke; and CFO, Bruce Aitken.

歡迎參加由我們的執行長 Horace Luke 主持的 Gogoro 2023 年第四季財報電話會議；和財務長布魯斯·艾特肯。

Hopefully by now, you've seen our earnings release.

希望到目前為止，您已經看到了我們的收益發布。

If you haven't, it is available on the Investor Relations tab of our website, investors.gogoro.com. We are hosting our earnings conference call via live webcast through Gogoro's website, where you can also download all of their earnings release materials.

如果您還沒有，可以在我們網站 Investors.gogoro.com 的投資者關係標籤上找到。我們將透過 Gogoro 的網站透過網路直播舉辦收益電話會議，您也可以在其中下載他們所有的收益發佈資料。

We will also be displaying the materials on the webcast screen as we ago.

我們還將像以前一樣在網路廣播螢幕上顯示這些材料。

If you're joining us through the conference call, your dial-in lines are in listen-only mode.

如果您透過電話會議加入我們，您的撥入線路將處於僅監聽模式。

After Horace provides some of the business highlights from Q4 and our outlook for 2024, Bruce will go a bit deeper into the Q4 and full-year 2023 financial results.

在 Horace 提供了第四季度的一些業務亮點以及我們對 2024 年的展望之後，Bruce 將更深入地介紹第四季度和 2023 年全年的財務業績。

And then we will open the line for Q&A and answer as many questions as time allows.

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。

As usual, we would like to remind everyone that today's discussions may contain forward-looking statements that are subject to risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements.

像往常一樣，我們想提醒大家，今天的討論可能包含前瞻性陳述，這些陳述存在風險和不確定性，可能導致實際結果與前瞻性陳述中包含的結果有重大差異。

Please refer to the forward-looking statements that appear in our press release and investor presentation provided today.

請參閱我們今天提供的新聞稿和投資者介紹中出現的前瞻性陳述。

And now, I would like to turn the call over to Horace.

現在，我想把電話轉給霍勒斯。

Thanks for joining our call today.

感謝您今天加入我們的電話會議。

We're pleased to have this opportunity to meet with you and provide a summary of our fourth-quarter 2023 results, a recap on our 2023 full year, and share our outlook for 2024.

我們很高興有機會與您會面，總結 2023 年第四季業績，回顧 2023 年全年業績，並分享我們對 2024 年的展望。

We've already had a few key announcements and product launches in January as well as in Q4 of 2023.

我們已經在 1 月和 2023 年第四季發布了一些重要公告和產品發布。

We launched the Gogoro Pulse, our new flagship vehicle just last week, and it is awesome.

上週我們推出了新旗艦車型 Gogoro Pulse，它非常棒。

And I'm very proud of the work our team has done.

我對我們團隊所做的工作感到非常自豪。

We continue to innovate and redefine what is possible when it comes to electric mobility.

我們不斷創新並重新定義電動車的可能性。

The Gogoro Pulse demonstrates a big leap in our industry leadership in both vehicle design, smart technologies, user interaction, and vehicle performance, and will extend our lead in the electric two-wheeler industry.

Gogoro Pulse 展示了我們在車輛設計、智慧技術、用戶互動和車輛性能方面的行業領先地位的巨大飛躍，並將擴大我們在電動兩輪車行業的領先地位。

We continue to extend our partnership with Apple, and with the latest Pulse vehicle, we'll partner with Qualcomm to deliver the latest chipset to power state-of-the-art dashboard.

我們將繼續擴大與 Apple 的合作夥伴關係，對於最新的 Pulse 車輛，我們將與 Qualcomm 合作，提供最新的晶片組，為最先進的儀表板提供動力。

Last week, we also announced a partnership with Copec Energy in Latin America, where we'll be launching in Chile and Colombia in Q2.

上週，我們也宣布與拉丁美洲的 Copec Energy 建立合作關係，我們將於第二季在智利和哥倫比亞推出此合作關係。

In Q4, we launched our Gogoro CrossOver vehicle, both in Taiwan and in India and commercially launched our battery swapping service in the Philippines.

第四季度，我們在台灣和印度推出了 Gogoro CrossOver 車輛，並在菲律賓商業推出了電池更換服務。

We also announced an agreement with Uber Eats in Taiwan to speed the transition of their delivery fleet riders to electric two wheelers.

我們也宣布與台灣的 Uber Eats 優食達成協議，以加快其送貨車隊乘客向電動兩輪車的過渡。

I'm excited to confirm that we are also progressing smoothly with the facility fill out of our first battery pack factory in India and have begun moving our state-of-the-art robotics equipment into the factory.

我很高興地確認，我們在印度的第一家電池組工廠的設施填充工作也進展順利，並已開始將我們最先進的機器人設備移入工廠。

We'll provide more detail on each of these throughout this call.

我們將在本次電話會議中提供有關每項內容的更多詳細資訊。

2023 was a year of relative economic and market challenges.

2023 年是經濟和市場面臨相對挑戰的一年。

Interest rates were increased by central governments.

中央政府提高了利率。

Monetary policy was tight.

貨幣政策從緊。

Economies around the world struggled to meet GDP growth projections and overall consumption slowed.

世界各地的經濟體都難以實現 GDP 成長預測，整體消費放緩。

We're anticipating that 2024 will see a reduction in interest rates and that many elections around the world will result in more stable and predictability of government policies on critical questions like energy consumption and the transition to clean green energy.

我們預計 2024 年利率將會下降，世界各地的許多選舉將導致政府在能源消耗和向清潔綠色能源過渡等關鍵問題上的政策更加穩定和可預測。

In the Taiwan market in Q4, according to the Ministry of Transportation, the total number of registered scooter was 263,917, up 32% from Q4 of 2022.

根據交通部統計，第四季台灣市場註冊踏板車總數為 263,917 輛，比 2022 年第四季成長 32%。

The total number of registered electric scooter in Q4 in Taiwan was 22,092 units, down from 25,505 in Q4 of last year.

第四季台灣註冊電動滑板車總數為 22,092 輛，低於去年第四季的 25,505 輛。

Of these electric scooters, approximately 18,721 or 85% were Gogoro-powered vehicle and 16,680, 76%, were Gogoro-branded vehicles.

在這些電動滑板車中，約 18,721 輛（即 85%）為 Gogoro 動力車輛，16,680 輛（即 76%）為 Gogoro 品牌車輛。

Total registered scooters for the full year of 2023 was 870,608 units, up 19% from 2022.

2023 年全年註冊踏板車總數為 870,608 輛，比 2022 年增加 19%。

Total electric scooters for the full-year 2023 was 79,766, down 9% from 2022.

2023 年全年電動滑板車總量為 79,766 輛，比 2022 年下降 9%。

Both electric powered two-wheelers and powered by Gogoro network markets were impacted by the continued deep discount and price war between the Taiwanese ICE vehicle manufacturers as well as the increased purchase of ICE vehicles as a last call effect from December 2023 discontinuation of certain government subsidies for scooter purchases.

電動兩輪車和 Gogoro 網路市場均受到台灣內燃機汽車製造商之間持續大幅折扣和價格戰以及 2023 年 12 月停止某些政府補貼後導致內燃機汽車購買量增加的影響用於購買踏板車。

As you may recall, for the past few years, consumers in Taiwan who retired an older gas vehicle would get a subsidy from the government on buying a new one.

您可能還記得，在過去的幾年裡，台灣消費者退役舊的汽油車後，可以得到政府的補貼來購買新的汽車。

The good news is that EV subsidies from Taiwan central and local government will continue for 2024.

好消息是，台灣中央和地方政府的電動車補助將持續到 2024 年。

While the overall consumer adoption of EV is not occurring as quickly as we would like in Taiwan, we are making continued inroads in with the consumer market and with a number of important government and fleet customers.

雖然台灣消費者對電動車的整體採用速度沒有我們希望的那麼快，但我們正在不斷進軍消費者市場以及許多重要的政府和車隊客戶。

And we do see government policies changing.

我們確實看到政府政策改變。

An example of this openness to EV adoption is the Taipei Police Department which has been actively transforming their fleet of patrol scooters to electric vehicles.

台北警察局對電動車採用持開放態度的一個例子是，該局一直在積極將其巡邏摩托車隊轉變為電動車。

By the end of 2023, 100% of the electric vehicles in the Taipei Police Department fleet were Gogoro vehicles which are actively using our battery swapping network to ensure constant availability.

到 2023 年底，台北市警察局車隊中 100% 的電動車都是 Gogoro 車輛，並積極使用我們的電池交換網路以確保持續可用。

Additionally, B2B and B2G fleet customers like Taiwan Power, DHL, Domino's Pizza, and a variety of local governments are also deploying more and more two- and three-wheeler EV in Taiwan which are Gogoro or partner branded and use Gogoro battery swapping network.

此外，台灣電力、DHL、Domino's Pizza 等 B2B 和 B2G 車隊客戶以及各地方政府也在台灣部署越來越多的 Gogoro 或合作夥伴品牌並使用 Gogoro 電池交換網路的兩輪和三輪電動車。

We welcome the opportunity to work with B2G and B2B partners to achieve their sustainability and electrification goals.

我們歡迎有機會與 B2G 和 B2B 合作夥伴合作，以實現其永續發展和電氣化目標。

In December, we partnered with Uber Eats Taiwan for a two-year green delivery program.

12 月，我們與 Uber Eats 台灣優食合作進行為期兩年的綠色配送計畫。

This program aims to facilitate a smooth and cost effective transformation to electric scooter for Uber Eats delivery partners.

該計畫旨在促進 Uber Eats 優食配送合作夥伴順利且經濟有效地轉型為電動滑板車。

Riders in the program received discounts on new Gogoro smart scooters, access to Gogoro battery swapping, and incentives for deliveries made on Gogoro smart scooters.

參與該計劃的騎手可以獲得新款 Gogoro 智慧滑板車的折扣、Gogoro 電池更換以及使用 Gogoro 智慧滑板車送貨的獎勵。

Through this collaboration, Uber Eats had indicated an expectation that EV deliveries on their platform in Taiwan will increase from 20% to 40% of all trips by the end of 2025.

透過此次合作，Uber Eats 預計到 2025 年底，台灣平台上的電動車交付量將從 20% 增加到 40%。

Gogoro is pleased to partner with Uber Eats to tailor vehicle purchases and battery swapping for delivery partners in Taiwan, encouraging more riders to deliver on a greener solution.

Gogoro 很高興與 Uber Eats 優食合作，為台灣的配送合作夥伴量身定制車輛購買和電池更換服務，鼓勵更多乘客採用更環保的解決方案。

The program is expected to accelerate the EV transition leading to improvement in air quality in cities across Taiwan, and it will contribute both to the Taiwan 2050 net zero emissions goals and to Uber Eats global goal of achieving emission-free deliveries by 2040.

該計畫預計將加速電動車轉型，從而改善台灣各城市的空氣質量，並將為台灣 2050 年淨零排放目標和 Uber Eats 到 2040 年實現零排放配送的全球目標做出貢獻。

This first collaboration can also serve as a template for other opportunities around the region.

此次首次合作也可以作為該地區其他機會的模板。

In the fourth quarter, we achieved significant milestone in India and the Philippines also.

第四季度，我們在印度和菲律賓也實現了重要的里程碑。

In India, in order to qualify for the available FAME II subsidies, both vehicle and battery packs must be made in India.

在印度，為了獲得 FAME II 補貼的資格，車輛和電池組都必須在印度製造。

In Q4, we made significant progress in both vehicle manufacturing as well as starting to deploy Go Stations in Delhi NCR area.

第四季度，我們在車輛製造方面取得了重大進展，並開始在德里 NCR 地區部署 Go Station。

In December 23, '23, we introduced our first India-made smart scooter, the CrossOver GX 250 manufactured in Maharashtra.

2023 年 12 月 23 日，我們推出了第一款印度製造的智慧踏板車，即在馬哈拉施特拉邦製造的 CrossOver GX 250。

This is Gogoro's first India-made smart scooter.

這是Gogoro首款印度製造的智慧滑板車。

It incorporates a customized feature based on feedback from our pilot riders in India earlier in 2023, features such as larger wheels, higher clearance and more rugged chassis, and better suspension.

它結合了基於我們 2023 年初在印度的飛行員反饋的定制功能，包括更大的車輪、更高的間隙和更堅固的底盤以及更好的懸吊等功能。

All of these enhancement made the vehicle more rugged, safer, and more comfortable even under very demanding road conditions.

所有這些增強功能使車輛更加堅固、更安全、更舒適，即使在非常嚴苛的路況下也是如此。

There are a number of CrossOver variants which are expected to be available throughout the year.

有許多 CrossOver 變體預計將在全年上市。

Financing is an important part of purchase decision for many customers in India whether fleet owners or individual owners of vehicles who ride for fleets.

對於印度的許多客戶來說，無論是車隊所有者還是為車隊駕駛的個人車主，融資都是購買決策的重要組成部分。

Gogoro is the first foreign two-wheel OEM to be empaneled by the Small Industry Development Bank of India, SIDBI, and we thank SIDBI for their support and partnership to get our vehicle registered for this low cost financing program which is intended to accelerate EV adoption.

Gogoro 是第一家獲得印度小型工業發展銀行 (SIDBI) 授權的外國兩輪 OEM，我們感謝 SIDBI 的支持和合作，讓我們的車輛註冊參加這項旨在加速電動車採用的低成本融資計劃。

The partnership with the Maharashtra government that we announced last year continues to be crucially important to our expansion in India.

我們去年宣布的與馬哈拉施特拉邦政府的合作夥伴關係對於我們在印度的擴張仍然至關重要。

In addition to our vehicle manufacturing, we are already well underway in building our first automated Robo battery pack manufacturing facility in Maharashtra, and we expect to be fully operational in the factory by the middle of the year.

除了我們的車輛製造之外，我們已經在馬哈拉施特拉邦建造我們的第一個自動化 Robo 電池組製造工廠，預計今年年中工廠將全面運作。

As always, we're grateful for the support of the Maharashtra state government.

一如既往，我們感謝馬哈拉施特拉邦政府的支持。

India's central and state governments are playing a crucial role in the transition of energy policy to minimize the health impacts of pollution and spur the adoption of electric vehicles.

印度中央和邦政府在能源政策轉型中發揮至關重要的作用，以最大限度地減少污染對健康的影響並刺激電動車的採用。

Policies range from outright subsidies on purchase of an EV with FAME II to a variety of benefits from EV adoption including tax incentive, local purchase subsidies, access to lower cost financing, toll fees, waivers, parking incentives, and benefits in the permitting process.

政策範圍廣泛，從購買帶有FAME II 的電動車的直接補貼，到採用電動車帶來的各種好處，包括稅收激勵、當地購買補貼、獲得較低成本的融資、通行費、豁免、停車激勵和許可過程中的好處。

In addition to the incentives, many cities are beginning to enforce a no ICE for logistics policy, making our strategy of serving B2B customers through battery swapping even more relevant.

除了激勵措施外，許多城市也開始執行物流無ICE政策，這使得我們透過換電服務B2B客戶的策略變得更加重要。

And all of these incentives will continue to play an important role in this electric transition.

所有這些激勵措施將繼續在這項電動轉型中發揮重要作用。

Gogoro's mission is to drive a massive market shift to sustainable energy in cities through our smart battery swapping ecosystem.

Gogoro 的使命是透過我們的智慧電池交換生態系統推動城市市場向永續能源的大規模轉變。

We've seen high demand in India for Gogoro's battery swapping technology, and we're excited about our commercial launch in collaboration with various partners.

我們看到印度對 Gogoro 電池交換技術的需求很高，我們對與各個合作夥伴合作的商業發布感到興奮。

The biggest impact will come from the transition to smart sustainable electric transportation for last-mile delivery riders who cover significantly more distance than normal customers.

最大的影響將來自於最後一英里送貨騎士向智慧永續電動交通的過渡，他們的行駛距離比普通客戶要長得多。

As policies encourage or mandate this migration, Gogoro has ready-made solutions including a superior vehicle experience and a super-efficient battery swapping ecosystem ready to lead the transition in India's major cities.

隨著政策鼓勵或強制這種遷移，Gogoro 擁有現成的解決方案，包括卓越的車輛體驗和超高效的電池交換生態系統，準備引領印度主要城市的轉型。

As Indian businesses increasingly prioritize sustainable transportation, basic tailored mobility solutions for logistics, delivery fleets and taxi services that not only offer a greener alternative to gas-powered vehicles, but also cater to India's specific market and industry requirements.

隨著印度企業越來越重視永續交通，針對物流、送貨車隊和計程車服務的基本客製化行動解決方案不僅為燃氣動力車輛提供了更環保的替代方案，也滿足了印度特定的市場和產業要求。

Gogoro provides rapid and reliable swap and go battery swapping ensuring constant availability and safety unlike tethered electric charging which demands dedicated parking and reduce rider flexibility and earnings while also having a poor track record on safety.

Gogoro 提供快速可靠的交換和行動電池交換，確保持續的可用性和安全性，這與繫留充電不同，後者需要專用停車位並降低騎士的靈活性和收入，同時安全記錄也很差。

We look forward to collaborating with various partners aiming to facilitate sustainable delivery operations and to create new sustainable business prospects including utilizing Gogoro GoShare platform for fractional and shared mobility as a service deployments.

我們期待與各合作夥伴合作，旨在促進永續交付營運並創造新的永續業務前景，包括利用 Gogoro GoShare 平台進行部分和共享行動即服務部署。

The Philippines' Gogoro network battery swapping service will officially launch in Q4.

菲律賓Gogoro網路換電服務將於第四季正式上線。

We're pleased to be working with the Ayala Corporation, Globe, and Globe's 917Ventures to offer both retail and Gogoro network battery swapping service in Manila.

我們很高興與 Ayala Corporation、Globe 和 Globe 的 917Ventures 合作，在馬尼拉提供零售和 Gogoro 網路電池更換服務。

We opened a Gogoro Experience Center in Makati City in central Manila in early November.

11 月初，我們在馬尼拉市中心的馬卡蒂市開設了 Gogoro 體驗中心。

This innovative hub provides an immersive experience, allowing visitors to try out Gogoro smart scooters and learn about battery swapping.

這個創新中心提供身臨其境的體驗，讓參觀者可以嘗試 Gogoro 智慧滑板車並了解電池更換。

The experience center showcases a range of Gogoro smart scooters, and visitors can schedule a test ride to explore the features and experience of battery swapping and the riding experience of Gogoro smart scooters.

體驗中心展示了多款Gogoro智慧滑板車，參觀者可以預約試乘，探索Gogoro智慧滑板車的換電功能和體驗以及騎乘體驗。

There are now five Go Stations up and running in Manila, and we look forward to launching more services and more vehicles during 2024.

目前馬尼拉已有 5 個 Go 車站投入運行，我們期待在 2024 年期間推出更多服務和更多車輛。

2023 was quite a year for Gogoro, and I want to take a moment to reflect on some of the highlights of the year.

2023 年對 Gogoro 來說是不平凡的一年，我想花點時間回顧這一年的一些亮點。

Gogoro's ecosystem including nearly 590,000 riders in Taiwan and over 2 million registered riders of Go Share covers 45 cities worldwide and support over 55 electric scooter models.

Gogoro的生態系統包括台灣近59萬名騎手和超過200萬的Go Share註冊騎手，覆蓋全球45個城市，支援超過55種電動滑板車型號。

We introduced our first locally made India vehicle, opened our first Gogoro experience center outside of Taiwan in the Philippines, and deepened our industry cooperation in South Korea and Singapore.

我們推出了第一輛印度本土製造的汽車，在菲律賓開設了台灣以外的第一家Gogoro體驗中心，並深化了在韓國和新加坡的產業合作。

We have now deployed over 12,000 Go Stations at more than 2,500 locations around Taiwan and an additional 500 locations in other markets.

目前，我們已在台灣各地 2,500 多個地點部署了 12,000 多個 Go Station，並在其他市場另外部署了 500 個地點。

In addition to the CrossOver launch, we collaborated with MUJI to release a popular line of vehicles which sold over 10,000 units in just the last few months of 2023.

除了推出 CrossOver 之外，我們還與 MUJI 合作推出了一系列廣受歡迎的車輛，僅在 2023 年最後幾個月就售出了超過 10,000 輛。

We also introduced Gogoro scooter key and Apple Wallet app and Apple's Find My feature integration with Apple for two wheelers, and over 120,000 or 40% of our target customers have already activated this service.

我們還推出了 Gogoro 滑板車鑰匙和 Apple Wallet 應用程式以及 Apple 的 Find My 功能與 Apple 的兩輪車集成，超過 120,000 名或 40% 的目標客戶已經激活了這項服務。

We have deployed Virtual Power Plant capability at over 1,000 location in conjunction with Enel X, and we've deployed approximately 1,000 smart parking meter in Taipei as well as providing backup power service for traffic lights at almost 200 of Taipei's most critical intersections as well as elsewhere in Taiwan.

我們與 Enel X 合作在超過 1,000 個地點部署了虛擬發電廠功能，並在台北部署了約 1,000 個智慧停車計時器，並為台北近 200 個最重要的十字路口以及台灣其他地方。

These smart cities and second-life opportunities were exciting areas of development in 2023 and will continue to grow in 2024, providing additional revenue streams both immediately and in the future as batteries migrate from serving mobility to energy storage and second-life usage.

這些智慧城市和二次利用機會是2023 年令人興奮的發展領域，並將在2024 年繼續增長，隨著電池從服務於移動出行轉向能源儲存和二次利用，立即和未來將提供額外的收入來源。

We continue to be recognized for our efforts.

我們的努力繼續得到認可。

In 2023, we were awarded the honor of being an MIT Technology Review's 15 top climate companies to watch globally.

2023 年，我們榮獲《麻省理工學院科技評論》評選的 15 家全球值得關注的頂尖氣候公司。

We were also recognized by Frost & Sullivan has 2023 Global Company of the Year for leading battery swapping for electric two-wheel.

我們也因領先的電動兩輪電池更換而被 Frost & Sullivan 評為 2023 年全球年度公司。

And our rideshare business, Go Share, was recognized as Asia Pacific Entrepreneurial Company of the Year for mobility sharing.

我們的共乘業務 Go Share 被評為亞太地區年度行動共享新創公司。

At the beginning of 2024, I want to take this opportunity to thank our customers, suppliers, partners, shareholders, and our employees.

2024年開始，我想藉此機會感謝我們的客戶、供應商、合作夥伴、股東和員工。

Without the support and contribution of so many fellow travelers, our journey to electrification would be impossible.

如果沒有這麼多同路人的支持和貢獻，我們的電氣化之旅將是不可能的。

We appreciate your support, and we're committed to continuing in this journey together in 2024 and beyond.

我們感謝您的支持，我們致力於在 2024 年及以後共同繼續這趟旅程。

With that high-level overview of our Q4 and 2023 results, I'd like to invite Bruce to provide an update of our 2024 plan as well as our 2023 Q4 and full-year financials.

在對我們第四季度和 2023 年業績進行高度概述後，我想邀請 Bruce 提供我們 2024 年計劃以及 2023 年第四季度和全年財務狀況的最新資訊。

Thanks for the strategy update, Horace.

感謝霍勒斯的策略更新。

Allow me to expand on our financial outlook.

請容許我詳細闡述我們的財務前景。

2024 is a year where we will focus on not only the Taiwan market but also on a number of growth opportunities.

2024年，我們不僅會關注台灣市場，還會關註一些成長機會。

We estimate the 2024 market for two-wheeler sales in Taiwan will range from approximately 750,000 units to 850,000 units.

我們預計 2024 年台灣兩輪車市場銷量將在約 75 萬輛至 85 萬輛之間。

We're targeting growth from 2023 unit sales and market share and healthy growth in our Gogoro network from accumulating the subscriber base.

我們的目標是在 2023 年實現單位銷售和市場份額的成長，並透過累積用戶基礎實現 Gogoro 網路的健康成長。

To support this market growth, we've launched the Gogoro Pulse, our all-new flagship vehicle, which demonstrates what's possible in an electric two wheeler.

為了支持這一市場成長，我們推出了全新旗艦車型 Gogoro Pulse，它展示了電動兩輪車的可能性。

In the coming months, we have other product launches planned to continue to penetrate the more cost-conscious product segments while maintaining Gogoro's focus on unique design, usability, and performance.

在接下來的幾個月中，我們計劃推出其他產品，以繼續滲透更具成本意識的產品領域，同時保持 Gogoro 對獨特設計、可用性和性能的關注。

We've been working on these vehicles for some time and are excited to share them with our customers.

我們對這些車輛的研究已經有一段時間了，很高興與我們的客戶分享它們。

In Taiwan, we're expanding our channel via the continued build up of our Gogoro Quick Service stores.

在台灣，我們透過不斷建立 Gogoro Quick Service 商店來擴大我們的管道。

These allow for legacy scooter sales and repair shops to also sell and service Gogoro and partner-branded electric vehicles, creating upskilling and cross training opportunities for existing ICE scooter industry players.

這些允許傳統踏板車銷售和維修店也銷售和維修 Gogoro 和合作夥伴品牌的電動車，為現有的 ICE 踏板車產業參與者創造技能提升和交叉培訓機會。

We have over 170 GQS stores in operation today and intend to keep growing the footprint all over Taiwan.

目前，我們有超過 170 家 GQS 商店在運營，並打算繼續擴大在台灣各地的足跡。

Taiwan is expected to represent approximately 90% of our revenue in 2024.

預計到 2024 年，台灣將占我們收入的約 90%。

In international markets, we're focusing on India, the Philippines, and continued growth in Korea, where there are already 10 partner-run retail locations and over 180 Go Stations in 18 cities.

在國際市場上，我們重點關注印度、菲律賓和韓國的持續成長，韓國已經在 18 個城市擁有 10 個合作夥伴經營的零售店和 180 多個 Go Station。

Last week, we announced our newest partnership with Copec, the leading energy company in Latin America, to introduce our battery swapping technology and smart scooters in Chile and Colombia in Q2 2024.

上週，我們宣布與拉丁美洲領先的能源公司 Copec 建立最新合作夥伴關係，並將於 2024 年第二季在智利和哥倫比亞推出我們的電池更換技術和智慧滑板車。

Together with Copec, we are establishing the first network of battery swapping stations in Latin America.

我們正在與 Copec 一起建立拉丁美洲第一個電池更換站網路。

Building brand recognition and trust across a diverse global audience takes time.

在全球多元化受眾中建立品牌認知度和信任需要時間。

Developing a robust distribution network, navigating complex supply chains, and ensuring supply chain localization are essential components of international growth.

發展強大的分銷網絡、駕馭複雜的供應鏈並確保供應鏈本地化是國際成長的重要組成部分。

It is crucial to recognize that each market has its unique challenges and opportunities, and successful expansion requires a long-term perspective with a willingness to invest in building lasting relationships and adapting to evolving market dynamics.

至關重要的是要認識到每個市場都有其獨特的挑戰和機遇，成功的擴張需要有長遠的眼光，並願意投資建立持久的關係並適應不斷變化的市場動態。

We expect international markets to contribute approximately 10% of our 2024 revenue, and we will continue to invest in those markets for future growth.

我們預期國際市場將貢獻我們 2024 年營收的約 10%，我們將繼續投資這些市場以實現未來成長。

Now I'll turn to Q4 2023 as well as full-year 2023 financial results.

現在我將談談 2023 年第四季以及 2023 年全年財務表現。

For the fourth quarter, total revenue was $91.5 million, down 4.1% year over year and down 2.8% year over year on a constant currency basis.

第四季總營收為 9,150 萬美元，年減 4.1%，以固定匯率計算年減 2.8%。

Had foreign exchange rates remained constant with the average rate of the same quarter last year, revenue would have been up by an additional $1.3 million.

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 130 萬美元。

Sales of hardware and other revenue for the quarter were $59 million, down 7.9% year over year and down 7.1% year over year on a constant currency basis.

該季度硬體銷售額和其他收入為 5,900 萬美元，年減 7.9%，以固定匯率計算年減 7.1%。

Both electric-powered two wheelers and powered by Gogoro network markets were impacted by the continued deep discounts on ICE vehicles offered by Taiwan's scooter manufacturers as well as the increased purchases of ICE vehicles as a last call effect given the discontinuation of certain government subsidies for scooter purchases.

電動兩輪車和Gogoro網路市場均受到台灣踏板車製造商對內燃機車持續大幅折扣的影響，以及由於政府停止對踏板車的某些補貼而導致內燃機車購買量增加的影響購買。

While we lowered prices, our average selling price reduced by 9.3% in the fourth quarter of 2023 compared to that in the same quarter of 2022, we refrain from matching the deep discounts provided by ICE OEMs as we believe that it's not in the best interest of our long-term growth strategy.

雖然我們降低了價格，但與2022 年同一季度相比，2023 年第四季度我們的平均售價下降了9.3%，但我們不會匹配ICE OEM 提供的大幅折扣，因為我們認為這不符合最佳利益我們的長期成長策略。

Compared to the same quarter last year, sales of total electric-powered, two-wheel vehicles were down 13.4%, while Gogoro-branded vehicle sales were down 6.5%.

與去年同期相比，電動兩輪車的總銷量下降了 13.4%，而 Gogoro 品牌車的銷量下降了 6.5%。

Battery swapping service revenue for the first quarter was $32.5 million, up 3.7% year over year and up 6.0% year over year on a constant currency basis.

第一季換電服務營收為3,250萬美元，年增3.7%，以固定匯率計算年增6.0%。

Total subscribers at the end of the fourth quarter exceeded 587,000, up 11.6% from 526,000 subscribers at the end of the same quarter last year.

第四季末用戶總數超過 587,000 名，比去年同季末的 526,000 名用戶成長 11.6%。

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.

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。

We continue to see the strength of our subscription-based business model to accumulate more customers to maximize our battery swapping network efficiency.

我們繼續看到基於訂閱的業務模式的優勢，可以累積更多客戶，從而最大限度地提高我們的電池交換網路效率。

For the full year, total revenue was $34.9 million, down 8.6% year over year and down 4.6% year over year on a constant currency basis.

全年總收入為 3,490 萬美元，年減 8.6%，以固定匯率計算年減 4.6%。

Had the foreign exchange rates remained consistent with average rate in each of the comparable quarters of the last year, revenue would have been up by an additional $15.6 million.

如果外匯匯率與去年每個可比季度的平均匯率保持一致，收入將額外增加 1,560 萬美元。

Sales of hardware and other revenues for the year were $218 million, down 16.5% year over year and down 12.8% year over year on a constant currency basis.

全年硬體銷售額和其他收入為2.18億美元，年減16.5%，以固定匯率計算年減12.8%。

Compared to last year, sales of total electric power two-wheel vehicles were down 9.0%, while Gogoro-branded vehicles were down 12.3%.

與去年相比，電動兩輪車總銷量下降9.0%，其中Gogoro品牌汽車銷量下降12.3%。

Local ICE vehicle price competition and overall macro economic uncertainty hindered the pace of electrification in the Taiwan market in 2023.

當地內燃機車價格競爭和整體宏觀經濟的不確定性阻礙了2023年台灣市場電動化的步伐。

Battery swapping service revenue for the year was $131.8 million, up 8.3% year over year and up 13.3% year over year on a constant currency basis.

全年換電服務收入為1.318億美元，年增8.3%，以固定匯率計算年增13.3%。

For the fourth quarter, gross margin was 11.0%, down from 15.0% in the same quarter last year, while non-IFRS gross margin was 14.2% down from 17.2% in the same quarter last year.

第四季毛利率為11.0%，低於去年同季的15.0%，非國際財務報告準則毛利率為14.2%，低於去年同季的17.2%。

The decrease in gross margin was driven by a reduction in vehicle prices in the fourth quarter and ASP reduction resulting from a higher percentage of lower-priced vehicles sold, higher production cost per vehicle due to lower sales volume, decreased revenue associated with retail discounts, and some minor impacts related to our discounting charges for customers adversely impacted by voluntary and minor vehicle recall and battery upgrade.

毛利率下降的原因是第四季度汽車價格下降，低價汽車銷售比例增加導致平均售價下降，銷量下降導致每輛車的生產成本增加，零售折扣相關收入減少，一些與我們為受到自願和輕微車輛召回和電池升級不利影響的客戶的折扣費用相關的輕微影響。

This unfavorable change was partially offset by the improved cost efficiencies of Gogoro's battery swapping service and improvements in other operational efficiencies.

這一不利的變化被 Gogoro 電池更換服務成本效率的提高和其他營運效率的提高部分抵消。

For the full-year 2023 gross margin was 14.4%, down from 15.1% last year, whereas non-IFRS gross margin was 15.8%, down from 16.8% last year.

2023 年全年毛利率為 14.4%，低於去年的 15.1%，而非 IFRS 毛利率為 15.8%，低於去年的 16.8%。

For the fourth quarter, net loss was $27.5 million, representing an increase of $15 million from a net loss of $12.5 million in the same quarter last year.

第四季淨虧損為2,750萬美元，比去年同期的淨虧損1,250萬美元增加了1,500萬美元。

This increase in net loss was primarily due to an unfavorable change of $16.5 million in the fair value of financial liabilities associated with the outstanding earn-out shares, earned in shares, and warrants compared to last year as a result of the decrease of Gogoro's stock price and the decrease of $4.2 million in gross profit, which are partially offset by the decrease of $7 million in operating expenses.

淨虧損增加的主要原因是，由於 Gogoro 股票減少，與去年相比，與已發行盈利股票、賺取的股票和認股權證相關的金融負債的公允價值發生了 1,650 萬美元的不利變化價格和毛利潤減少420 萬美元，但部分被營運費用減少700 萬美元所抵銷。

For the full-year 2023, net loss was $76.9 million, representing a decrease of $22 million from a net loss of $98.9 million last year.

2023年全年淨虧損為7,690萬美元，比去年的淨虧損9,890萬美元減少了2,200萬美元。

The decrease in net loss was primarily due to a $218.4 million decrease in operating expenses, which was offset by an unfavorable change of $189.8 million in the fair value of financial liabilities and a $7.3 million decrease in gross profit.

淨虧損減少主要是因為營運費用減少 2.184 億美元，但被金融負債公允價值 1.898 億美元的不利變動和毛利潤減少 730 萬美元所抵銷。

For the fourth quarter, adjusted EBITDA was $8.2 million, representing a decrease of $1 million from $9.2 million in the same quarter last year.

第四季調整後 EBITDA 為 820 萬美元，比去年同期的 920 萬美元減少了 100 萬美元。

The decrease was primarily due to a $1.3 million loss on investment using the equity method compared to the same quarter last year.

下降的主要原因是與去年同期相比，以權益法計算的投資損失為 130 萬美元。

The decrease was partially offset by a decrease in operating expenses from various cost savings initiatives this quarter.

這一下降被本季各種成本節約措施帶來的營運費用減少所部分抵銷。

For the full-year 2023, adjusted EBITDA was $44.8 million, representing an increase of $3.6 million from $41.2 million last year.

2023 年全年，調整後 EBITDA 為 4,480 萬美元，比去年的 4,120 萬美元增加了 360 萬美元。

The increase was primarily due to a $9.6 million decrease in operating expenses as a result of various cost savings initiatives.

這一增長主要是由於各種成本節約措施導致營運費用減少了 960 萬美元。

The increase was partially offset by a $5.8 million decrease in gross profits due to lower revenue.

這一增長被收入下降導致的毛利減少 580 萬美元部分抵消。

We generated $59.8 million of operating cash flow in 2023 compared to 2022, where we used $64.8 million of cash in operations.

2023 年，我們產生了 5,980 萬美元的營運現金流，而 2022 年我們在營運中使用了 6,480 萬美元的現金。

With a $173.9 million cash balance at the end of 2023, and the additional credit facilities that are available to us, we believe we have sufficient sources of funding to meet our near-term business growth objectives.

截至 2023 年底，我們擁有 1.739 億美元的現金餘額，以及我們可以獲得的額外信貸額度，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, our 2024 revenue guidance is in the range of $385 million to $420 million.

根據目前的市場前景，我們 2024 年的營收指引在 3.85 億美元至 4.2 億美元之間。

The low end of this range represents 10% growth from our 2023 revenue.

該範圍的低端代表我們 2023 年營收成長 10%。

This growth is expected to come from unit sales increases in Taiwan and increasing base of subscribers to the Gogoro network, as well as the continued sale of vehicles and other hardware in international locations.

這一增長預計將來自台灣銷售的成長和 Gogoro 網路用戶數量的增加，以及國際地區車輛和其他硬體的持續銷售。

We estimate that Gogoro will generate approximately 90% of 2024 full-year revenue from the Taiwan market and 10% from international markets.

我們預計 Gogoro 2024 年全年營收的約 90% 來自台灣市場，10% 來自國際市場。

With that financial update, I'll hand it back over for Q&A.

隨著財務更新，我會將其交還給問答。

Thank you, Horace and Bruce, for the detailed update.

謝謝霍勒斯和布魯斯的詳細更新。

So as attendees are formulating their questions, I will ask two questions that we have collected from analysts.

因此，當與會者提出他們的問題時，我將問我們從分析師那裡收集的兩個問題。

Question number one, there have been recently some setbacks on EV adoption for four-wheeler market.

第一個問題，最近四輪車市場的電動車採用遇到了一些挫折。

What are management's thoughts on two-wheeler electrification adoption, and what is your plan to combat the recent intensified competition from ICE makers if you don't plan to participate in a pricing war?

管理階層對兩輪電動車的採用有何想法？如果您不打算參與價格戰，那麼您有什麼計劃來應對最近來自內燃機製造商的激烈競爭？

I'll take that.

我會接受的。

I think it is inevitable that traditional ICE vehicles will transition to EV.

我認為傳統內燃機汽車轉型為電動車是不可避免的。

It's just a question of time.

這只是時間問題。

And I think that it doesn't matter if it's four wheel or two wheel, that transition will happen, and it will happen even faster with two wheelers because the cost economic makes even better sense.

我認為無論是四輪還是兩輪，這種轉變都會發生，而且兩輪車的轉變會更快，因為成本經濟更有意義。

But educating consumers that have had a long history of using ICE vehicles on the benefits of using electric is important, and it's an ongoing journey for us.

但是，讓長期使用內燃機汽車的消費者了解使用電動車的好處非常重要，這對我們來說是一個持續的旅程。

Achieving relative price parity on both vehicle costs as well as total cost of ownership over time is really important, and we believe that electric adoption will happen.

隨著時間的推移，實現車輛成本和總擁有成本的相對價格平衡非常重要，我們相信電動車的採用將會發生。

While we don't believe in engaging in short-term price competition, it's beneficial to our long-term strategy.

雖然我們不相信參與短期價格競爭，但這對我們的長期策略有利。

Developing new technology and services that can help consumers get excited about electric is a really great inflection point we can put in.

開發新技術和服務來幫助消費者對電力感到興奮是我們可以實現的一個非常好的轉折點。

The most recently announced Pulse, the Gogoro Pulse, is a great example how and what electric can do that ICE cannot.

最近發布的 Pulse Gogoro Pulse 就是一個很好的例子，它是電力如何能夠做到 ICE 無法做到的事情以及什麼事情的一個很好的例子。

With all the new technology and all the new interaction and all the new connectivity that the vehicle and the performance that vehicle can provide, I think it will really excite the market.

憑藉車輛和車輛可以提供的所有新技術、所有新互動和所有新連接，我認為這將真正令市場興奮。

And if you haven't checked it out yet, please go to our website and check it out.

如果您還沒有查看過，請訪問我們的網站查看。

It is generating a lot of buzz both in the marketplace and with the media here in Taiwan, and preorders are already rolling in for that product sight unseen.

它在台灣的市場和媒體中引起了很大的轟動，而該產品的預購已經滾滾而來。

We are grateful for our customer that have already been subscribers for Gogoro network, and we encourage anyone that hasn't tried an electric two wheeler to do so.

我們感謝已經成為 Gogoro 網路訂閱者的客戶，我們鼓勵任何尚未嘗試過電動兩輪車的人嘗試這樣做。

The riding experience and the usability is just day and night.

騎乘體驗和可用性簡直就是白天和黑夜。

I think you'll find that experience a very positive one.

我想你會發現那是一次非常正面的經驗。

Each person can make a contribution to the reduction in carbon emission by choosing electric vehicle.

每個人都可以透過選擇電動車為減少碳排放做出貢獻。

And in Taiwan, with the market share and penetration we have done, the difference is clearly visible on the street today.

而在台灣，以我們所做的市場佔有率和滲透率，今天街上的差異是顯而易見的。

Thanks, Horace.

謝謝，霍拉斯。

So the second question is, can you provide some color on estimated market size, vehicle volume, and margin outlook for this year?

那麼第二個問題是，您能否提供一些有關今年預計市場規模、車輛數量和利潤前景的資訊？

Thanks, Annie.

謝謝，安妮。

As we mentioned during the presentation, industry estimates for 2024 for the Taiwan market are approximately 750,000 to 850,000 unit sales.

正如我們在演示中提到的，該行業預計 2024 年台灣市場的銷量約為 750,000 至 850,000 輛。

While other markets like India, for example, are many, many, many times larger, India's annual sales are approximately 15 million to 20 million units.

雖然印度等其他市場大很多很多倍，但印度的年銷量約為 1,500 萬至 2,000 萬台。

In Taiwan, we're targeting growth on last year's volume.

在台灣，我們的目標是在去年的基礎上成長。

We're targeting growth on market share and broad penetration across all segments with the introduction of new vehicles and new services.

我們的目標是透過推出新車和新服務來提高市場份額並廣泛滲透到所有細分市場。

In India, we're really just getting started, but we are expecting during 2024 to make solid inroads in the B2B market segments.

在印度，我們確實剛起步，但我們預計 2024 年將在 B2B 細分市場取得紮實進展。

As far as margin goes, we will continue to maintain tight control on spending.

就利潤率而言，我們將繼續嚴格控制支出。

Our goal is to maintain a relatively flat or slightly improved gross profit margin compared to 2023 while we focus on growing revenue in both Taiwan and in international markets.

我們的目標是與 2023 年相比保持相對持平或略有提高的毛利率，同時專注於台灣和國際市場的收入成長。

Thank you, Bruce.

謝謝你，布魯斯。

At this time, operator, please open the line for Q&A session.

此時，接線生請開通問答環節。

(Operator Instructions)

（操作員說明）

While we're waiting for participants to ask a question, I have an online question.

當我們等待參與者提問時，我有一個線上問題。

In India, FAME II subsidies favors wire charging over battery swap.

在印度，FAME II 補助傾向於有線充電而不是電池更換。

Can Gogoro offer two versions of your scooters, one that can swap batteries and the other version where customers own the battery with tethered charging that way Gogoro can qualify for FAME II?

Gogoro 能否提供兩種版本的踏板車，一種可以更換電池，另一種版本是客戶擁有可連接充電的電池，這樣 Gogoro 就有資格獲得 FAME II 資格？

Okay, great question.

好的，很好的問題。

The qualification for FAME II in India requires a number of parts to be executed, the first one being the vehicle having to be made in India with a supply chain that is in India.

印度 FAME II 的資格要求需要執行許多零件，第一個是車輛必須在印度製造，供應鏈也在印度。

There is a long list of parts, and we've worked really diligently over the last year to enable a supply chain that's unique to India within India to build the vehicle.

零件清單很長，去年我們非常努力地工作，以在印度內部建立印度獨有的供應鏈來製造車輛。

And today, we're already in the state of Maharashtra to manufacture the first vehicle, the Gogoro CrossOver GX250.

今天，我們已經在馬哈拉施特拉邦製造第一輛汽車 Gogoro CrossOver GX250。

And while the vehicle is ready, the next piece that needs to come into place is, you're absolutely right, a charger is required, a tethered charger is required because the market is unfamiliar with battery swapping.

當車輛準備好時，下一個需要到位的是，你是絕對正確的，需要一個充電器，需要一個系留充電器，因為市場不熟悉電池交換。

And so in order to qualify for FAME II, our vehicle, as you have stated, will have a charging capability, however, with the usability of swapping.

因此，為了符合 FAME II 的資格，正如您所說，我們的車輛將具有充電功能，並且具有交換的可用性。

As it is indicated, if you go to the website of Gogoro, you also see that we offer an option of charging also for our vehicle within Taiwan.

如所指出的，如果您造訪 Gogoro 的網站，您還會看到我們也為台灣境內的車輛提供充電選項。

But I can assure you that usability and the ease and convenience of battery swapping overwhelms the legacy charging, the [cumberness] and also the time it takes to actually charge a battery that everybody chooses to swap.

但我可以向您保證，電池更換的可用性和簡易性和便利性壓倒了傳統充電、[麻煩]以及每個人都選擇更換的電池實際充電所需的時間。

And in Taiwan's case, 100% of our vehicles sold is actually with swapping and the user opt not to charge at all even though the vehicle might be able to do that.

以台灣為例，我們售出的車輛 100% 實際上都是交換的，用戶選擇完全不充電，即使車輛可能能夠做到這一點。

And the last piece of the equation is really around the battery that needs to be made locally.

最後一個因素實際上與需要本地製造的電池有關。

And today, just earlier with Bruce and I highlighting to everyone, the battery factory in Pune, Maharashtra has been fitted out and the equipments are moving in and turning on as we speak.

今天，就在我和布魯斯早些時候向大家強調的時候，位於馬哈拉施特拉邦浦那的電池工廠已經完成裝修，就在我們發言時，設備正在搬入並投入使用。

We see that coming in sometime in Q2, and with that ready, all three pieces of component will be ready for us to qualify for FAME II.

我們看到它將在第二季的某個時候推出，準備好後，所有三個組件都將為我們準備好參加 FAME II 的資格。

So I hope that answers your question.

所以我希望這能回答你的問題。

It is essential that we take advantage of all the policies there in favor of electrification, and we're working diligently.

我們必須利用那裡所有有利於電氣化的政策，並且我們正在努力工作。

Our team is working diligently to make sure that we check all the boxes and make it as flexible and as easy as it is for consumers to adopt electric.

我們的團隊正在努力工作，以確保我們檢查所有的方框，並使消費者能夠靈活、輕鬆地採用電動車。

(Operator Instructions) Long Lin, The Benchmark Company.

（操作員指示）Long Lin，The Benchmark Company。

This is Long on behalf of Fawne Jiang.

我是龍，代表小鹿。

So I have a follow-up question on Indian market.

所以我有一個關於印度市場的後續問題。

Just wanted to ask, can management talk about more about your expectations on the ramp-up of the India markets and specifically the potential impact of the India market on the company's performance in 2024?

只是想問一下，管理階層能否詳細談談您對印度市場成長的預期，特別是印度市場對公司2024年業績的潛在影響？

Sure, we can do that.

當然，我們可以做到。

So a couple of things that I'll highlight, and Horace can add on as well.

我要強調一些事情，霍勒斯也可以補充。

The first is, as we mentioned, we expect approximately 10% of our revenue in 2024 to come from international markets.

首先，正如我們所提到的，我們預計 2024 年將約 10% 的收入將來自國際市場。

So clearly, India is one of our focus areas.

顯然，印度是我們的重點領域之一。

We're not giving a specific revenue target for India, but we do anticipate starting to see penetration.

我們沒有給出印度的具體收入目標，但我們確實預計將開始看到滲透率。

The market that we're targeting in India to begin with is the B2B marketplace.

我們在印度首先瞄準的市場是 B2B 市場。

We've talked about this a number of times before.

我們之前已經多次討論過這個問題。

Penetrating the B2B space, the value proposition is extremely clear.

滲透B2B領域，價值主張極為清晰。

The riders are clear that they want battery swapping.

騎手們很清楚他們想要更換電池。

The fleet operators are clear they want battery swapping because it means no downtime.

車隊營運商明確表示他們希望更換電池，因為這意味著無需停機。

And so with these vehicles being on the road literally 12 or 10 or 14 hours a day, there's no way you can keep a vehicle on the road that long without it being a battery swapping vehicle.

因此，由於這些車輛每天在路上行駛 12 或 10 或 14 小時，如果不是電池更換車輛，您不可能讓車輛在路上行駛那麼長時間。

If you have to stop and charge, even if it's for an hour, that makes a dramatic impact on the number of deliveries or the number of trips that a rider can make, and that directly impacts their bottom line, their take-home pay.

如果你必須停下來充電，即使是一個小時，也會對送貨數量或騎手可以進行的行程次數產生巨大影響，並直接影響他們的底線，即他們的實得工資。

So we view the B2B market as a baseload.

因此，我們將 B2B 市場視為基本負載。

We can, through the B2B sales, establish a broad network of Go Stations whether it's in a city like Delhi or as we expand into other places like Bangalore or like Goa.

透過 B2B 銷售，我們可以建立廣泛的 Go Stations 網絡，無論是在德里這樣的城市，還是擴展到班加羅爾或果阿等其他地方。

We're also targeting tourist-oriented, free float scooter services with a partner in the city of Goa and likely other cities to follow.

我們也與果阿市和其他城市的合作夥伴合作，提供遊客的自由浮動滑板車服務。

So there's a number of different things that we're trying out from a B2B penetration standpoint.

因此，從 B2B 滲透的角度來看，我們正在嘗試許多不同的事情。

We do expect to see meaningful unit sales.

我們確實期望看到有意義的單位銷售。

We expect, again, 10% of revenue to be international.

我們再次預期 10% 的收入來自國際市場。

As Horace mentioned, the critical components are that that vehicle is ready to go, that the charger is ready to go, that the battery pack is ready to go.

正如 Horace 所提到的，關鍵組件是車輛已準備好運行、充電器已準備好運行、電池組已準備好運行。

And we'll have all those pieces in place in the very near future and be able to start with the ramp in India.

我們將在不久的將來將所有這些部分準備就緒，並能夠從印度的坡道開始。

I have another question coming from online.

我還有一個來自網路上的問題。

Sales of electric generators have increased over the years due to global complex and extreme weather conditions.

由於全球複雜和極端的天氣條件，發電機的銷量多年來一直在增長。

Why doesn't Gogoro expand your product line into the battery energy storage market, where our customers can buy and use their own Gogoro batteries to provide backup energy for their homes or businesses, customers that only Gogoro battery can also become potential scooter purchase in the future?

為什麼Gogoro不把你的產品線拓展到電池儲能市場，我們的客戶可以購買並使用自己的Gogoro電池為他們的家庭或企業提供備用能源，只有Gogoro電池的客戶也可以成為潛在的踏板車購買者未來？

That's a great question.

這是一個很好的問題。

We see our battery as just storage devices for energy.

我們將電池視為能量儲存設備。

First, usability of that, of course.

首先，當然是它的可用性。

As everybody know, what we do is mobility.

眾所周知，我們所做的是移動性。

So we have also used those battery packs for other storage functionality such as backing up major intersections that's serving as a generator, as well as backing up -- we actually recently worked and turned on a SREG or a small regenerative energy generator service with the Taiwan Power, where we are turning on 1,000 of our location to do both spinning reserve as well as bidirectional, what we call, frequency response with the network, again acting as a generator.

因此，我們也將這些電池組用於其他儲存功能，例如為用作發電機的主要十字路口提供備份，以及備份 - 我們實際上最近與台灣合作並開啟了 SREG 或小型再生能源發電機服務電源，我們打開1,000 個位置以進行旋轉備用以及雙向（我們稱之為網路頻率響應），再次充當發電機。

We do have about approximately 1.3 million batteries on the network, and when those batteries are in the stations, they're part-time serving as standby ready for somebody swap but, at the same time, serving as a massive generator for the cities that they serve today.

我們的網路上確實有大約 130 萬個電池，當這些電池在車站時，它們會兼職充當備用電池，準備好供人更換，但同時，也為城市提供巨大的發電機他們今天服務。

As we look forward in what the batteries can do, obviously, there's many other functionality we can do with the battery.

當我們期待電池的功能時，顯然，我們還可以使用電池實現許多其他功能。

But our number one focus as a company today is to really solidify our market position in Taiwan as we have done so greatly today with majority of the vehicles that are electric in the marketplace being electric powered by our battery swapping system.

但作為一家公司，我們今天的首要任務是真正鞏固我們在台灣的市場地位，正如我們今天所做的那樣，市場上的大多數電動車輛都是由我們的電池交換系統提供動力的。

And as Bruce just said, the near-term focus is really to take what we have learned and what we've developed in Taiwan and expand into the mobility space into markets that we have already announced: markets such as India, markets such as Chile and Colombia, markets such as Korea, and others that we are actively participating within.

正如 Bruce 剛才所說，近期的重點實際上是利用我們在台灣學到的知識和開發的知識，並將其擴展到移動出行領域，進入我們已經宣布的市場：印度等市場、智利等市場哥倫比亞、韓國等市場以及我們積極參與的其他市場。

Batteries are simply energy storage devices.

電池只是能量儲存設備。

They are, like you said, generators.

正如你所說，它們是發電機。

They can instantly take energy and instantly give energy.

它們可以立即獲取能量並立即給出能量。

We will focus on that thesis with mobility as a first function and as storage and smart grid usability as the kind of ancillary services that they can provide.

我們將重點關注該論文，將行動性作為首要功能，並將儲存和智慧電網可用性作為它們可以提供的輔助服務。

In the future -- we don't know what's in the future for what batteries can do, but certainly what you mentioned as a storage device or generator can certainly be something that we look into for sure.

未來——我們不知道電池將來能做什麼，但你提到的儲存設備或發電機肯定是我們肯定會研究的東西。

Thank you, Horace.

謝謝你，霍拉斯。

We have another few questions coming from online.

我們還有一些來自網路上的問題。

I'm combining them all together because it's similar.

我將它們組合在一起，因為它們很相似。

They want to know the current status or policies in India on EV battery swapping or charging.

他們想了解印度在電動車電池更換或充電方面的現況或政策。

Okay, I can take that.

好吧，我可以接受。

Battery swapping, as I said earlier in the answered Q&A, battery swapping is still very new to the entire industry.

電池更換，正如我之前在回答的問答中所說，電池更換對於整個行業來說仍然是一個非常新鮮的事情。

While everybody recognizes and understands the electric vehicle as a plug-in charging, there's still a lot of work needs to be done to educate everybody on what battery swapping is and what battery swapping, how it's different than battery charging.

雖然每個人都認識並理解電動車是一種插電式充電，但仍然需要做很多工作來教育每個人甚麼是電池更換、什麼是電池更換、它與電池充電有何不同。

So we're making inroads.

所以我們正在取得進展。

We're meeting lots of politicians, a lot of policymakers, educating them.

我們會見很多政治家、很多政策制定者，並對他們進行教育。

And we have formed, along with other partners, an association called the India Battery Swapping Association, and the association has partners like Hero, like Sun Mobility, like actually other partners like Honda and others that have actually joined the, what we call, IBSA which is India Battery Swapping Association.

我們與其他合作夥伴一起成立了一個名為印度電池交換協會的協會，該協會擁有像Hero 這樣的合作夥伴，例如Sun Mobility，實際上像本田這樣的其他合作夥伴以及其他實際上已經加入了我們所說的IBSA 的合作夥伴這是印度電池交換協會。

And with this association, a lot of seminars and a lot of meetings are happening as we speak to educate about battery swapping and how policies need to be adjusted to serve battery swapping.

透過這個協會，我們舉辦了很多研討會和會議，以教育電池更換以及如何調整政策以服務電池更換。

So we look forward to a country that can be electrified through battery swapping because that's the only way we can set -- zero downtime is the only way we can actually see electric being adopted.

因此，我們期待一個可以透過電池交換來實現電氣化的國家，因為這是我們可以設定的唯一方法——零停機時間是我們真正看到電力被採用的唯一方法。

In markets where very soon ICE vehicle for logistics will be banned.

在很快將禁止用於物流的內燃機車輛的市場中。

Cities like Delhi will be banning ICE vehicle from doing logistics.

德里等城市將禁止內燃機車輛從事物流工作。

Doesn't matter if that logistic is carrying goods, your lunch, or people.

無論物流是運送貨物、午餐或人員，都沒關係。

And so that's a great opportunity for us, and battery swapping is the only solution to serve that B2B market.

因此，這對我們來說是一個很好的機會，而電池更換是服務該 B2B 市場的唯一解決方案。

Thank you, Horace.

謝謝你，霍拉斯。

We have another question from online.

我們還有一個來自網路上的問題。

Can we get an update on Gogoro's solid-state battery?

我們可以獲得 Gogoro 固態電池的最新資訊嗎？

Sure.

當然。

We continue to work with our partner on developing the battery solution.

我們將繼續與合作夥伴合作開發電池解決方案。

Gogoro's key differentiating factor is the technology behind managing the battery swapping network.

Gogoro 的關鍵差異化因素是管理電池交換網路的技術。

Today, on the network, there are multiple generations of technology with different chemistries that are in the battery today, serving from 1.3 kilowatt hour to approximately 1.7 kilowatt hour.

如今，網路上的電池採用了多代具有不同化學成分的技術，功率從 1.3 千瓦時到大約 1.7 千瓦時不等。

And those variety of batteries can be put into the network to serve our customers in time.

而這些種類的電池都可以連接到網絡，及時為我們的客戶服務。

One of the value proposition that we give to our customer that people see as a great part of not buying a battery but swapping a battery is that they don't have to worry about the upgrade of technology, and that when a new technology is rolled out, they simply can subscribe and actually get access to it.

我們向客戶提供的價值主張之一是，人們認為不購買電池而是更換電池的一個重要部分是，他們不必擔心技術的升級，並且當新技術推出時出來後，他們只需訂閱並實際訪問即可。

And with the solid-state battery, as we've stated earlier with the announcement, it is years away still.

對於固態電池，正如我們之前在公告中所說，距離實現還需要數年時間。

And we're working diligently to make sure that we're one of the first people to be able to roll that out to our customer.

我們正在努力工作，以確保我們是第一批能夠向客戶推出這項服務的人之一。

But it will take time.

但這需要時間。

Solid-state battery is still in its early phase, but it offers a lot of benefits such as safety, durability, long range, and capacity.

固態電池仍處於早期階段，但它具有安全性、耐用性、續航里程和容量等諸多優點。

All those things are things that we can actually use to benefit our customer.

所有這些都是我們可以實際用來使我們的客戶受益的東西。

But in the meantime, our network is ready to plug in any other technology that needs to be plugged in.

但同時，我們的網路已準備好插入任何其他需要插入的技術。

And we're very flexible about that and serving our customer with different technologies.

我們對此非常靈活，並透過不同的技術為我們的客戶提供服務。

Thank you, Horace.

謝謝你，霍拉斯。

Operator, can you check again online whether we have anything from the audio?

接線生，您能再上網查一下我們有沒有音訊嗎​​？

There are no further questions from the audio at this time.

目前音訊中沒有進一步的問題。

Great.

偉大的。

Thank you, everyone, for joining our call today. 2023 was a challenging year for the overall market standpoint, we focus on delivering solid financial result regardless.

謝謝大家今天加入我們的電話會議。從整體市場角度來看，2023 年是充滿挑戰的一年，但無論如何，我們都專注於提供穩健的財務表現。

In 2024, we're committed to continue development and deployment of the best technology, best vehicle, best battery swapping platform and ecosystem to ongoing innovation and performance leadership in electric two-wheeler industry.

2024年，我們致力於繼續開發和部署最好的技術、最好的車輛、最好的電池交換平台和生態系統，以實現電動兩輪車行業的持續創新和性能領先。

We aim to deliver exceptional performance, efficiency, and reliability, both in Taiwan and the international markets that we're going into.

我們的目標是在台灣和我們即將進入的國際市場提供卓越的性能、效率和可靠性。

We're still in the early stage of electrification overall.

總體而言，我們仍處於電氣化的早期階段。

Our goal remains to continue to support the inevitable transition from ICE-powered two wheelers to electric two wheelers.

我們的目標仍然是繼續支持從內燃機驅動的兩輪車到電動兩輪車的不可避免的過渡。

As always, we appreciate everyone's support as a community.

一如既往，我們感謝社區中每個人的支持。

Doesn't matter if it's our employees, our suppliers, and most important of all our investors on this journey.

無論是我們的員工、我們的供應商，或是我們這段旅程中最重要的所有投資者，都沒關係。

Thanks for calling in today's webcast and talk to you guys real soon.

感謝您收聽今天的網路廣播並很快與大家交談。

Thank you.

謝謝。

The conference has now concluded.

會議現已結束。

Thank you for attending today's call.

感謝您參加今天的電話會議。

You may now disconnect.

您現在可以斷開連線。