Thunder Power Holdings, Inc. Announces Stockholder Approval of Share Exchange Agreement

Acquisition of 30.8% Stake in TW Company Powers Thunder Power's Expansion into Renewable Energy and Integrated EV Solutions

WILMINGTON, Del., July 1, 2025 /PRNewswire/ -- Thunder Power Holdings, Inc. (OTCQB: AIEV) ("Thunder Power" or the "Company"), a technology innovator and developer of premium passenger Electric Vehicles ("EVs") whose acquisition strategy is focused on addressing key gaps in the EV sector with a diversified approach across the clean energy value chain, today announced that its stockholders have approved the issuance of shares pursuant to the previously disclosed Share Exchange Agreement with certain shareholders of Electric Power Technology Limited ("TW Company"). This milestone enables Thunder Power to acquire approximately 30.8% of TW Company, a Taiwan corporation traded on the Taipei Exchange (TPEX: 4529), accelerating its expansion into Taiwan's renewable energy sector and enhancing its capabilities across the clean energy value chain.

Building on recent operational updates, Thunder Power is advancing a multi-faceted growth strategy that includes:

1. Expanding its clean energy platform through the TW Company investment, which directly aligns with Thunder Power's broader plan to diversify revenue streams and supports Taiwan's national renewable energy targets.
   
   
2. Strengthening technology development and commercialization by leveraging relationships and manufacturing resources in Taiwan to advance Thunder Power's proprietary EV technologies, with an emphasis on scaling in Asian and European markets.

Christopher Nicoll, President and Chief Executive Officer, commented, "Receiving shareholder approval of the Share Exchange Agreement marks a pivotal inflection point in Thunder Power's evolution. By integrating TW Company's renewable energy assets, we are not only diversifying revenue streams, but also establishing a scalable model for sustainable mobility. Our focus now shifts to exploring opportunities that leverage these assets to drive clean energy and mobility.

"This resounding shareholder support enables us to accelerate our growth strategy—expanding our footprint in Taiwan's dynamic renewable energy market and leveraging TW Company's proven expertise in solar generation. This transaction strengthens Thunder Power's position in the renewable energy sector by providing access to solar generation capacity and manufacturing resources, furthering the Company's broader objectives to develop advanced electric vehicle technologies and explore new opportunities in clean energy.

"Looking ahead, we are committed to maximizing value for our stakeholders through disciplined capital management, key acquisitions, and the commercialization of advanced technologies. We believe that our unique combination of EV innovation and renewable energy integration will set Thunder Power apart in the evolving global marketplace. We are excited about the road ahead and confident in our ability to deliver sustainable, long-term growth," Mr. Nicoll concluded.

Thunder Power's go-forward strategy includes the following initiatives:

1. Portfolio Diversification. The Company will continue to pursue opportunities in renewable energy and storage to complement its core EV business. The TW Company stake enables Thunder Power to broaden its revenue base and evaluate additional targeted transactions to further expand internationally.
   
   
2. Capital Market Initiatives. Thunder Power is taking steps to reinforce its financial position to facilitate the commercialization of its clean energy strategy and facilitate future growth.
   
   
3. Technology and Commercialization. By utilizing manufacturing resources in Taiwan, Thunder Power aims to advance the development and future launch of its proprietary EVs. Taiwan will serve as the introductory market, leveraging the region's industrial strengths and demand for clean mobility solutions. The Company is also exploring ways to integrate its EV platforms with renewable energy and storage assets to serve evolving mobility and energy needs in global markets.

Investors can find real-time quotes and market information on Thunder Power Holdings, Inc. at https://www.otcmarkets.com/stock/AIEV/overview. 

About Thunder Power Holdings, Inc.
Thunder Power is a technology innovator and a developer of innovative electric vehicles ("EVs"). The Company has developed several proprietary technologies, which are the building blocks of the Thunder Power family of EVs. The Company is focused on design and development of high performance EVs, targeting markets initially in Asia & Europe. Thunder Power's acquisition strategy is focused on addressing strategic gaps in the EV sector combined with a diversified approach across the clean energy value chain. For more information, please visit: https://aiev.ai/. 

Contact:
AIEV Investor Relations
[email protected] 

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminologies such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results or outcomes could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including but not limited to, (i) operational risks, such as the Company's ability to successfully execute on its business plan, its ability to complete the acquisition of Electric Power Technology Limited; its ability to receive stockholder approval to issue its common stock in relation to the Share Exchange Agreement; its ability to successfully acquire assets on terms that are favorable to the Company; its ability to integrate acquired assets effectively; and its ability to adapt operations in response to accidents, extreme weather events, natural disasters, and related economic effects; (ii) regulatory and compliance risks, such as the impact of new or amended governmental laws and regulations, including tariffs, clean energy policies, and environmental standards; changes in tax laws or tax-related matters; its ability to receive a successful audit outcome under Generally Accepted Accounting Standards; and its ability to maintain its status on the OTCQB Venture Market; (iii) financial risks, such as the Company's liquidity position and ability to obtain additional financing, if necessary; foreign currency exchange rate fluctuations; interest rate volatility; the Company's current pre-revenue status and uncertainties surrounding its ability to generate revenue in the future, including potential delays in product development, market acceptance, or achieving profitability; (iv) market and industry risks, such as fluctuations in consumer acceptance and demand for electric vehicles; competition within the EV sector; the Company's ability to integrate solar power technology into its products as part of clean energy innovation initiatives; fluctuations in the availability and cost of raw materials critical for EV production; and advancements in battery technology or alternative energy solutions that may impact market dynamics, and (v) such known factors as are detailed in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the Securities and Exchange Commission, and in other reports filed by the Company with the Securities and Exchange Commission from time to time and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors and those reported in the Company's filings with the Securities and Exchange Commission. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements, except as required by applicable laws, regulations or rules.

SOURCE Thunder Power Holdings, Inc.