Horace Luke, the founder and CEO of the world’s leading electric vehicle battery-swapping company Gogoro, just announced his resignation. The move comes during a period of growing financial losses for the company and follows accusations of potential subsidy fraud in its domestic market of Taiwan.
The Taipei Times described the announcement as a bombshell. Luke had built Gogoro largely from the ground up while maintaining major influence over the company’s designs and operations, from minute details to major strategy.
"After much reflection, I have made the difficult decision to step down from my role as CEO and chairman of Gogoro," Luke explained in the announcement. "This decision has not been easy, but I believe it is the right time for the company and I to transition leadership as we embark on the next phase of growth. My confidence in Gogoro’s bright future remains steadfast. I will always be Gogoro’s biggest advocate, and I look forward to seeing the company continue to grow and succeed from a new vantage point."