GCOO, the operator of the electric scooter sharing service platform 'GCOOTER', headed by CEO Yoon Jong-su of GBike, announced on the 15th that they have entered into an MOU with Kasetsart University in Thailand and will officially enter the Thai market.
They plan to capitalize on their rich experience and network in the mobility market to accelerate their move into international markets, with the goal of strengthening their position as a global mobility company.
GCOOTER has completed its analysis of the local market in Thailand and intends to expand its service in close cooperation with major national universities in Thailand, starting with Kasetsart University and including Chiang Mai University. GCOOTER plans to establish a local subsidiary soon and operate approximately 2,000 electric scooters and e-bikes by the end of the year.
Thailand has a tropical climate, maintaining hot temperatures throughout the year, which makes mobility, especially motorcycles, the main mode of transport for the majority of the population, rather than walking. Therefore, the Thai people are familiar with mobility culture, and a sense of order for driving and parking is already established.
Furthermore, the Thai government is in the process of transitioning its industrial structure towards green growth and tourism-centric development. As a result, the electric vehicle industry, a significant part of overall mobility, is anticipated to be more actively utilized in shared mobility services to prevent environmental pollution and promote the development of eco-friendly mobility industries.
CEO Yoon Jong-su of GCOOTER said, "With a deep understanding of the Thai market, we will build an efficient traffic system based on data and provide a customized experience." He added, "We are continuously exploring opportunities to expand beyond the domestic market into international markets, and Thailand serves as a strategic bridge to strengthen our global mobility platform position, potentially extending even to North America in addition to the Asia-Pacific region."
Meanwhile, GCOOTER is the top company in the domestic market share and took the number one spot in the Asia-Pacific region's shared personal mobility sector sales in 2021, with a revenue of approximately 33.5 billion won. This is more than double the revenue of Helbiz, a Nasdaq-listed shared mobility company in the United States, which reported $12.8 million in revenue for 2021.
