MANILA — Ayala Corporation (AC) on Friday said it signed an agreement to establish a joint venture with 917Ventures Inc. and Gogoro Network Pte Ltd to launch electric scooters with battery swapping technology in Metro Manila.

The deal covers the importation, sale, distribution, operation, management and maintenance of Gogoro two-wheeled scooters, and the establishment of battery swapping stations and after-sales services for the e-scooters through Gogoro Philippines, Inc.

• Globe says first batch of Gogoro Smartscooters, smart batteries arrive in PH

AC said it entered into an agreement to subscribe to 42,000,000 common shares of Gogoro Philippines for a 21 percent stake.

Gogoro Network Pte Ltd, meanwhile, will own 60,000,000 common shares, which is equivalent to 30 percent of Gogoro PH.

Gogoro is the developer of a battery-swapping refueling platform for urban electric two-wheeled vehicles.

Meanwhile, 917Ventures, a wholly-owned subsidiary of Globe Telecom, shall own 98,000,000common shares, which is equivalent to 49 percent of Gogoro PH.

Ayala Corporation has been venturing into the electric vehicle space with its distribution agreement with Chinese electric vehicle maker BYD, and the launch of a manufacturing facility for electric "big bikes" in Laguna.

• AC Motors says BYD partnership will develop EV ecosystem
• Ayala launches electric 'big bike' assembly line in Laguna

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