Visionary Holdings Inc. (NASDAQ:GV) shares are trading higher on Friday following a significant breakthrough in the new energy vehicle sector.

The company said it secured a substantial order for 12,000 new energy vehicles specifically tailored for the Hong Kong taxi market.

These electric taxis will contribute to improving air quality in the city, offering zero emissions and low energy consumption.

As Hong Kong increasingly seeks sustainable transportation solutions, this order aligns with the city’s environmental goals and the global push for greener alternatives.

In addition to the vehicle order, Visionary Holdings plans to enhance the operational efficiency of its new energy taxis by establishing a comprehensive network of battery swap service stations throughout Hong Kong.

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These service stations will employ advanced battery swap technologies, allowing quick battery replacements for taxi drivers.

Unlike traditional charging methods, the battery swap system offers faster energy replenishment, reducing taxi downtime and enabling drivers to maintain higher earnings.

A mobile application will be developed to provide real-time information on station locations and battery status, ensuring user convenience.

This initiative marks a significant step in Visionary Holdings’ broader vision to build an industrial ecosystem for new energy vehicles.

The company plans to continue investing in the research and development, production, and service fields of new energy vehicles.

Recently, Visionary Holdings announced that after years of research and development, PEGASUS New Energy Vehicles under Visionary were officially launched in 2025.

According to Benzinga Pro, GV stock has gained over 201% in the past year.

Price Action: GV shares are trading higher by 64.6% to $8.05 at last check Friday.

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