Visionary Ventures into the New Energy Vehicle Battery Swap Field in Hong Kong, Providing Strong Assurance for Sustainable Revenue Growth

Rhea-AI Summary

Visionary Holdings (NASDAQ: GV) has announced a strategic partnership with PEGASUS International Group (Hong Kong) to enter the new energy vehicle battery swap market in Hong Kong. The company plans to invest HK$420 million to build 600 battery swap/charging stations by 2029, starting with 10 stations in 2025.

The project aims to capture 20% market share in Hong Kong's battery swap market, aligning with the Hong Kong government's initiative to build 3,000 high-speed battery swap/charging stations by 2030. The investment will be supported by a previously disclosed US$1 billion financing arrangement with Alfardan Group of Qatar, which has entered the formal loan process.

The partnership leverages Visionary's equipment and technology expertise alongside PEGASUS's site resources. Construction of the first battery swap station is scheduled to begin in March 2025, marking a significant step in Visionary's expansion into the new energy vehicle market.

Positive

• Secured HK$420 million investment plan for 600 battery swap stations
• Expected to capture 20% market share in Hong Kong
• US$1 billion financing from Alfardan Group entering formal loan process
• Strategic partnership with PEGASUS International Group providing site resources
• Alignment with government initiative for 3,000 stations by 2030

Negative

• Initial rollout to only 10 stations in 2025
• Full network deployment extends over 4 years until 2029
• Significant capital expenditure required upfront

News Market Reaction – GV

+25.66%

1 alert

+25.66% News Effect

On the day this news was published, GV gained 25.66%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, March 12, 2025 /PRNewswire/ -- Recently, Visionary Holdings (NASDAQ: GV), a company with extensive influence in the industry, officially announced that it has reached an important agreement with PEGASUS International Group (Hong Kong). It is actively laying out in the new energy vehicle battery swap market in Hong Kong, and this move will have a profound impact on Visionary's market value management and investors' confidence.

As a U.S. listed company, Visionary has always been committed to expanding its business areas and enhancing corporate value. This time, Visionary and PEGASUS International Group (Hong Kong) jointly focus on the booming new energy vehicle market in Hong Kong and carry out in-depth cooperation in the field of battery swap/charging services. The Hong Kong government has been vigorously promoting the development of new energy vehicles and plans to build 3,000 high-speed battery swap/charging stations by 2030, which provides broad space for the development of the industry.

According to the cooperation agreement reached by the two parties, Visionary will invest HK$420 million and plans to build 600 battery swap/charging stations in Hong Kong by 2029. Among them, 10 stations will be built in 2025, and the construction of the first new energy vehicle battery swap station in Hong Kong will be launched in March 2025. Through this strategic layout, Visionary is expected to occupy about 20% of the battery swap market share in Hong Kong. With this scale advantage, Visionary will not only be able to hold an important position in the new energy vehicle battery swap service field in Hong Kong, but also is expected to deeply penetrate the new energy vehicle market in Hong Kong with its leading edge in battery swap services. In the current market environment, whoever masters the battery swap market holds the key to opening the door of the new energy vehicle market in Hong Kong, and Visionary is steadily moving towards this goal.

To ensure the smooth implementation of this plan, the previously disclosed US$1 billion financing arrangement between Visionary and Alfardan Group of Qatar has entered the formal loan process. This significant progress provides a solid financial guarantee for the HK$420 million investment plan, making the project practically operable and implementable. The stable financial support demonstrates Visionary's strong resource integration ability and development potential, and further strengthens investors' confidence in Visionary.

In terms of the cooperation model, Visionary and PEGASUS International Group (Hong Kong) give full play to their respective advantages. Visionary will combine its own advantages in equipment, technology, and operating funds with the advantages of PEGASUS International Group (Hong Kong) in site resources and other aspects to jointly explore the new energy vehicle battery swap/charging service market in Hong Kong. The two parties will jointly lead the project operation to build a mutually beneficial and win-win cooperation situation.

This cooperation not only conforms to Visionary's long-term development strategy, but also accords with the industry development trend. With the rapid growth of the new energy vehicle market, battery swap/charging services, as a key supporting link, have a continuously rising market demand. This layout of Visionary will not only help enhance Visionary's competitiveness in the new energy field, but also create greater value for shareholders. Visionary will strictly comply with the information disclosure and compliance requirements of U.S. listed companies, actively promote the project progress, and promptly convey relevant information to investors.

In the future, Visionary will continue to uphold the concepts of innovation, cooperation, and win-win results, deepen its layout in the new energy vehicle battery swap field, continuously improve service quality and market share, contribute to the development of the new energy vehicle industry in Hong Kong, and at the same time lay a solid foundation for the continuous growth of Visionary's market value and long-term returns for investors.

For more information, please contact:

Visionary Holdings Inc.
Investor Relations Department
Email: ir@farvision.ca 

View original content:https://www.prnewswire.com/news-releases/visionary-ventures-into-the-new-energy-vehicle-battery-swap-field-in-hong-kong-providing-strong-assurance-for-sustainable-revenue-growth-302398821.html

SOURCE Visionary Holdings Inc.

FAQ

How many battery swap stations will Visionary Holdings (GV) build in Hong Kong by 2029?

Visionary Holdings plans to build 600 battery swap/charging stations in Hong Kong by 2029, starting with 10 stations in 2025.

What is the total investment amount for GV's Hong Kong battery swap station project?

Visionary Holdings will invest HK$420 million in the Hong Kong battery swap station project.

What market share does GV expect to capture in Hong Kong's battery swap market?

Visionary Holdings expects to capture approximately 20% of the battery swap market share in Hong Kong.

How is GV financing the Hong Kong battery swap station project?

The project is supported by a US$1 billion financing arrangement with Alfardan Group of Qatar, which has entered the formal loan process.

When will GV begin construction of its first battery swap station in Hong Kong?

Construction of the first battery swap station is scheduled to begin in March 2025.