$1 Billion Financing Boosts Visionary’s Battery Swap Expansion in Hong Kong

March 14, 2025

DENVER, Colo., Mar 14, 2025 (247marketnews.com)- Visionary (NASDAQ:GV) published a follow up announcement that it’s making bold strides in Hong Kong’s battery swapping sector for new energy vehicles.

The company recently secured a $1 billion financing commitment from Qatar’s Alfardan Group, a deal that has now entered the formal loan process and is expected to be finalized soon.

Through a strategic partnership with PEGASUS International Group, Visionary is aggressively expanding into the region’s new energy vehicle battery swap market. PEGASUS is set to sign a contract for Hong Kong’s first battery swap station, a milestone that will mark the city’s initial foray into this infrastructure. The Hong Kong government is driving this shift, promoting new energy vehicles with a goal of establishing 3,000 high-speed battery swap and charging stations by 2030—a plan that opens vast opportunities for market growth. Visionary is capitalizing on this vision, committing HK$420 million to construct 600 battery swap and charging stations by 2029. The rollout begins in March 2025 with the first station, with plans to complete 10 by year-end.

The $1 billion financing from Alfardan is a game-changer for this initiative. Beyond providing ample capital for the network’s construction, it underscores Visionary’s ability to integrate resources on a global scale. Alfardan’s financial backing positions Visionary to accelerate its plans and seize a prime position in an industry on the cusp of explosive growth.

The new energy vehicle market has seen remarkable expansion in recent years, with battery swap services emerging as a vital component to support this surge. Armed with this substantial funding, Visionary can fast-track its network buildout and meet Hong Kong’s rising demand ahead of competitors. By rapidly deploying 600 stations, the company aims to claim roughly 20% of the local battery swap market share, establishing a scale advantage that promises significant profits. This first-mover edge could solidify Visionary’s leadership in the region’s green transportation ecosystem.

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