BP's Castrol to Invest Up to $50 Million in Smart-Mobility Firm Gogoro
By Don Nico Forbes
Castrol will invest up to $50 million in Gogoro, a Taiwan-based provider of battery-swapping platforms for urban smart mobility, as part of plans to diversify its operations.
BP's brand for industrial and automotive lubricants will initially invest $25 million in ordinary Gogoro shares, to be followed by a second $25 million investment in the form of a convertible note, in return for a 5.72% interest in the company, it said Tuesday.
"Gogoro is a global leader in two-wheeler battery swapping and our investment in Gogoro is a strategic step towards diversifying our portfolio," said Castrol Chief Executive Michelle Jou.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
June 25, 2024 06:48 ET (10:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations