09:34 AM EDT, 03/12/2025 (MT Newswires) -- Visionary (GV) said Wednesday it has signed a cooperation agreement with Pegasus International Group under which Visionary will invest 420 million Hong Kong dollars ($54.1 million) to construct 600 battery swap/charging stations in Hong Kong by 2029.

The company said it will build 10 stations this year and that the construction of the first new energy vehicle battery swap station in the country will be launched this month.

Visionary said it will integrate its equipment, technology, and operating funds with Pegasus' in-site resources and other aspects to jointly explore Hong Kong's new energy vehicle battery swap/charging service market.

GV shares were up 42% in early trading.

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