WASP HK buys Asgard EV for $2.55M, backed by Laurinda Ho
What's the deal? Hong Kong smart mobility group WASP HK has acquired electric vehicle charging network Asgard EV for US$2.42M, with socialite and actress Laurinda Ho joining as a strategic investor. The deal adds EV charging as a third core service alongside WASP HK's smart parking platform Parking Bees and car-sharing service GoSwapDealroom has a profile for this one. Try Dealroom →.
What's the endgame? WASP HK plans to integrate both companies' operational and technology teams, using data sharing to coordinate parking, vehicle allocation, and charging. The acquisition adds about 11 charging stations, linking locations, vehicles, and charging in one operating platform.
By the numbers: GoSwap has more than 80,000 users, while Parking Bees operates over 30 car parks across Hong Kong Island, Kowloon, and the New Territories. Asgard EV runs stations mainly in commercial buildings, residential developments, and car parks, offering one hour of free parking during charging and a plug-and-charge service.
Why now? Hong Kong's EV infrastructure is expanding fast, with public chargers reaching roughly 18,090 by September 2026. Government plans call for 5,000 fast chargers within five years and around 10,000 by 2035.
Ho, daughter of late casino tycoon Stanley Ho, said proceeds will mainly fund network expansion, energy management systems, and fast-charging technology. "This is not just about smart parking, car-sharing or charging stations, but an urban infrastructure platform that can expand both horizontally and vertically," she said in a statement.
What's next? Asgard EV showcased its AI-powered commercial charging product, Asgard Mini Charge, at VivaTechDealroom has a profile for this one. Try Dealroom → in Paris, equipped with an Nvidia AI chip. The product is expected to enter phased mass production from 2027. WASP HK also plans to expand into Macau and other Greater Bay Area markets.
What could go wrong? The deal adds a modest footprint in a market where public and subsidised fast-charger deployment is accelerating. The announcement alone does not establish whether the combined network can scale profitably.
The signal: The acquisition reflects a push to bundle parking, car-sharing, and charging into a single platform as Hong Kong's EV market grows. The strategic bet is that integration — not scale alone — will set the combined business apart.
Read more: thestandard.com.hk
Image credit: Generated with Gemini
