Progress on Taiwan Share Exchange and Strategic Partnerships
WILMINGTON, Del., Sept. 22, 2025 /PRNewswire/ — Thunder Power Holdings, Inc. (OTCQB:AIEV) (“Thunder Power” or the “Company”), a technology innovator and developer of premium passenger Electric Vehicles (EVs), today announced several important operational updates and strategic developments to expand its position in clean energy markets and support its long-term growth objectives.
Update on Share Exchange with Taiwan Affiliate (Electric Power Technology Limited)
Thunder Power Holdings, Inc. (“the Company”) recently achieved a significant milestone in its strategic expansion with the advancement of its planned share exchange with Electric Power Technology Limited (“TW Company”), its Taiwan-based affiliate. As previously reported, on December 19, 2024, the Company entered into a Share Exchange Agreement with certain shareholders of TW Company, later amended on January 27, 2025, to revise the exchange ratio to 119 shares of Thunder Power common stock for every 100 ordinary shares of TW Company. Under the agreement, TW Company shareholders will exchange an aggregate 31,626,082 ordinary shares for 37,635,039 newly issued shares of the Company, subject to customary closing conditions and necessary regulatory and shareholder approvals.
Notably, at its 2025 Annual Meeting of Stockholders held on June 26, 2025, the Company’s shareholders approved the share exchange, positioning Thunder Power to consolidate its operations and further align its global growth strategy with advanced electric vehicle technologies sourced from Taiwan.
Latest Strategic Developments
The Company continues to assess new investments in solar power generation and energy storage technologies in line with government renewable energy targets for Taiwan. As previously reported, in alignment with government policy, Taiwan aims to achieve a 15% share of renewables in total electricity generation by 2025, with further expansion to 35% of installed generation capacity targeted by 2035.
- Thunder Power has completed due diligence for the acquisition of 100% equity in 16 solar power plants located in Kaohsiung and Pingtung. If completed, this acquisition is expected to generate an additional annual operating revenue of NT$24 million.
- The Company is also actively evaluating the acquisition of two or more engineering, procurement, and construction (EPC) solar providers. These EPC acquisitions would allow Thunder Power to vertically integrate its solar businesses, ensuring end-to-end project management—from system design and equipment procurement to direct construction and installation. This approach aims to reduce costs, increase quality assurance, and improve power generation efficiency and profitability.
- In addition, Thunder Power is reviewing seven solar power plant projects, primarily located in southern Taiwan. These projects include rooftop and ground-mounted installations, with capacities ranging from 300 kW to 1.5 MW.
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Period (2025) |
Key Activities |
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January–February |
– Identification and preliminary assessment of target power plants – Collection of market intelligence and operational performance data – Initial engagement with the seller and establishment of communication channels |
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March–May |