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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: [email protected]
