Visionary has secured a $1 billion battery swap investment from the Alfardan Group of Qatar, accelerating its expansion in Hong Kong’s new energy vehicle (NEV) sector. The Visionary battery swap investment strengthens its ability to develop charging stations and enhance NEV infrastructure in the region, the company said.

Visionary Partners with PEGASUS to Lead Battery Swap Expansion

To drive its battery swap growth, Visionary said it partnered with PEGASUS International Group (Hong Kong) to establish the first battery swap station in Hong Kong.

The Hong Kong government plans to develop 3,000 battery swap and charging stations by 2030. Visionary has committed HK$420 million (approx. $54 million) to build 600 stations by 2029, with:

• Construction on the first station starting in March;
• Ten stations expected to launch by the end of 2025.

Alfardan Group’s $1 Billion Investment Fuels Visionary’s Growth

The $1 billion investment from the Alfardan Group provides crucial funding for Visionary’s battery swap station development. According to Visionary, this financial backing:

• Ensures rapid expansion of battery swap infrastructure;
• Demonstrates strong investor confidence in Visionary’s vision;
• Strengthens Hong Kong’s battery swap market by enabling scalable solutions.

With this funding, Visionary said it can speed up its battery swap station rollout.

Visionary Battery Swap Investment Aligns with NEV Industry Trends

As the global NEV market expands, demand for battery swapping services continues to grow. Visionary said its 600 planned stations will:

• Meet rising demand for faster battery swaps;
• Capture an estimated 20% of the Hong Kong market;
• Reduce dependence on slow-charging infrastructure.

Securing the $1 billion investment lowers capital risks and ensures a stable funding source for Visionary, it said. In a fluctuating market, consistent cash flow attracts more investors and builds financial trust, Visionary said.

Future Plans for Visionary’s Battery Swap Expansion

Looking ahead, Visionary said it will continue to adhere to the concept of sustainable development. By continuously optimizing battery swapping technology and expanding service areas, it said it will contribute to the development of the new energy vehicle industry in Hong Kong. It said it will create substantial returns for investors, and continuously demonstrate the investment value and development potential in the field of new energy battery swapping.