BUZZ-Visionary surges on order for 12,000 EVs in Hong Kong

Reuters

03/08

** Canadian EV maker Visionary Holdings' GV.O shares rise 24.2% to $6.07

** Stock rose as much as 96.3% earlier in the session to reach a near-two-year high of $9.60

** Co says it has secured an order for 12,000 new electric vehicles to be used as taxis in Hong Kong

** Co is planning to enter the EV market this year with the launch of Pegasus brand, featuring a compact electric sedan and a luxury SUV

** Co will also establish a network of battery swap service stations in Hong Kong

** Battery swap service stations will charge faster compared with traditional charging methods, reducing taxi downtime and increasing driver income, co says

** Stock fell 23.5% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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