On September 13, 2024, Gogoro Inc. filed with the SEC a current report on Form 6-K. In this current report, Gogoro announced it had “conducted internal investigations into allegations in recent media reports that the Company incorporated imported components into certain of its vehicles in violation of the requirement of the Taiwan government that certain core components of the electric scooters shall be produced domestically in order to be qualified for the subsidies to purchasers. During such investigations, the Company has identified certain irregularities in supply chain which caused the Company to inadvertently incorporate certain imported components in some of its vehicles. The Company has reported the irregularities in supply chain to the local authorities and is fully cooperating with the local authorities in their investigations, while also continuing with its internal investigations. As the internal and external investigations are still ongoing, the Company cannot predict the final outcome of such investigations.”
Further, Gogoro announced in an “effort to show the Company’s resolution to fully cooperate with the local authorities, Mr. Horace Luke resigned from his positions as the Chief Executive Officer (the “CEO”), Chairman of the Board and Director of the Company, effective September 13, 2024.”
On this news, the price of Gogoro stock fell 5% on September 13, 2024, and a further 14% on September 16, 2024.
