WILMINGTON, Del., Nov. 17, 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 provides an update for the third quarter of 2025, highlighting fresh operational progress and expanded strategic activity following previous milestones.
Share Exchange and Integration Progress with Taiwan Affiliate (Electric Power Technology Limited)
The Company is advancing toward finalization of the share exchange agreement with Electric Power Technology Limited ("TW Company"), following approval at the June 2025 annual meeting and completion of prior contractual steps. Further integration and organizational alignment are underway, with closing expected by year end 2025, subject to regulatory and shareholder approval.
Solar Power and Clean Energy Expansion
Thunder Power is entering the closing process for the acquisition of 100% equity in 16 solar power plants located in southern Taiwan, tenfold scale-up of managed capacity upon asset transfer from the current 0.5MW to 4.5MW. This added solar capacity and resulting power generation is expected to generate meaningful recurring revenue in excess of NT$20 million per year. Progress continues on establishing operational procedures for the new sites, with due diligence complete and transaction contracts signed.
The Company is evaluating acquisitions of engineering, procurement, and construction (EPC) solar providers, as well as reviewing seven solar power plant projects ranging from 300 kW to 1.5 MW. These steps position Thunder Power for vertical integration and improved margins in renewable energy deployment.
Ongoing Strategic Initiatives
Thunder Power is focused on maximizing value from every new project by using real-world market data, solar production analysis, and government incentives like feed-in tariff programs to drive investment decisions. The team tracks performance for each megawatt added, aiming for strong returns and alignment with Taiwan's renewable energy targets. Expense management remains a priority as management actively seeks new financing options to invest in energy storage and emerging green technologies.
Christopher Nicoll, Chief Executive Officer of Thunder Power, commented, "We are moving forward toward closing our strategic merger with TW Company and anticipate completing this transaction by year-end. In parallel, we continue to actively pursue new opportunities to add scale and expand our green energy portfolio. Building on the merger with TW Company, in ...
