AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
TORONTO, March 14, 2025 /PRNewswire/ -- Recently, Visionary (NASDAQ: GV) has made significant progress in the field of battery swapping for new energy vehicles in Hong Kong, attracting high attention from the capital market. The $1 billion financing for Visionary's new energy vehicles by the Alfardan Group of Qatar has now entered the loan process and is expected to be in place soon. In accordance with the information disclosure requirements of US listed companies, this press release will elaborate in detail on the key impact of this financing on Visionary's battery swap project in Hong Kong.
Visionary has reached a cooperation with PEGASUS International Group (Hong Kong) and is actively laying out in the battery swap market for new energy vehicles in Hong Kong. Recently, PEGASUS International Group (Hong Kong) will sign the contract for the first battery swap station, which is expected to become the first battery swap station established in Hong Kong. The Hong Kong government is vigorously promoting the development of new energy vehicles and plans to build 3,000 high-speed battery swap/charging stations by 2030, creating a vast space for the battery swap market. Visionary plans to invest HK$420 million to build 600 battery swap/charging stations by 2029. The plan was launched with the construction of the first battery swap station in March 2025, and it is expected that 10 stations will be completed in that year.
The $1 billion financing from the Alfardan Group of Qatar is of great significance to the project. This not only provides sufficient funds for Visionary's battery swap network construction but also serves as a strong testament to its powerful resource integration capabilities. As an internationally renowned enterprise, the Alfardan Group's investment in Visionary's new energy vehicles reflects its high recognition of the project's prospects and deep trust in Visionary's development potential in the field of new energy battery swapping.
From the perspective of industry development trends, the new energy vehicle market has experienced explosive growth in recent years. As a crucial supporting link, the demand for battery swap services has been continuously rising. With this huge amount of financing, Visionary can accelerate the construction of its battery swap network and seize the market opportunity. Compared with its competitors, quickly completing the layout of 600 battery swap/charging stations will enable it to be the first to meet the growing demand for battery swapping of new energy vehicles in Hong Kong. It is then expected to capture approximately 20% of the battery swap market share in Hong Kong, form a scale advantage, and obtain substantial profit returns.
For investors, the fact that the $1 billion financing has entered the formal loan process has significantly reduced the project's capital risk. In the current situation with significant market fluctuations, a stable cash flow is one of the key factors for the success of an investment project. This progress allows investors to see the feasibility and stability of the project, enhances their confidence in the future development of Visionary Holdings, and also attracts the attention of more potential investors.
In its subsequent development, Visionary will strictly comply with the information disclosure and compliance requirements of US listed companies, regularly disclose the project progress to investors, and ensure information transparency. At the same time, the company will make full use of this funds to optimize the construction technology of battery swap stations, improve operational management efficiency, and promote the development of the battery swap industry for new energy vehicles in Hong Kong.
The $1 billion financing from the Alfardan Group of Qatar will help Visionary accelerate its layout in the field of battery swapping for new energy vehicles in Hong Kong. This not only brings new development opportunities for Visionary but also injects strong impetus into the new energy vehicle industry in Hong Kong, and further demonstrates the broad development potential of the new energy battery swap field in the capital market.
For more information, please contact:
Visionary Holdings Inc.
Investor Relations Department
Email: [email protected]
