AIEV Received Approval to Trade on the OTCQB Venture Market effective June 5, 2025

WILMINGTON, Del. , June 6, 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 strategic gaps in the EV sector with a diversified approach across the clean energy value chain, today provided listing and operational updates.

Highlights

• AIEV received its approval to trade on the OTCQB Venture Market effective June 5, 2025.
• AIEV received formal notification from the U.S. Securities and Exchange Commission's (SEC) Division of Corporation Finance, Office of Manufacturing, confirming the completion of the SEC's review of the Company's Revised Preliminary Proxy Statement on Schedule 14A, filed on May 29, 2025.
• AIEV plans to hold its Annual Meeting of Stockholders soon to approve the proposed issuance of shares pursuant to the Share Exchange Agreement with certain shareholders of Electric Power Technology Limited ("TW Company"), a Taiwan corporation traded on the Taipei Exchange under the code 4529.
• Stockholders will also vote on a proposal to affect a "reverse stock split," a strategic action intended to attract a wider range of institutional and retail investors, improve stock liquidity, and provide greater flexibility to support Thunder Power's growth strategy and capital-raising initiatives. 

Christopher Nicoll, Chief Executive Officer, commented, "Our recent receipt of the approval for the trading on the OTCQB Venture Market marks a pivotal step in Thunder Power's evolution, enabling us to expend our reach and deepen our collaboration with Electric Power Technology. At the same time, we are pleased to announce that we can now set the date for our Annual Meeting of Stockholders to approve the Share Exchange Agreement with certain stockholders of Electric Power Technology Limited. This strategic partnership opens up new opportunities across the electric vehicle value chain, allowing us to leverage our complementary strengths for mutual growth. In today's challenging market environment, the resilience and adaptability of our team have been key, and this new trading platform will help us broaden our investor base and strengthen our capital position. We are energized by the possibilities ahead and remain committed to building lasting value for our stockholders and partners as we pursue our vision for a smarter, cleaner mobility future."

The Company also announced that its common shares began trading on the OTC Markets Group Inc.'s OTCQB Venture Market (the "OTCQB") under the ticker "AIEV" effective as of the open of trading on June 5, 2025. The OTCQB is recognized by the SEC as an established public market and requires companies to be current in financial reporting, undergo annual verification, and meet management certification standards. This uplisting supports Thunder Power's ongoing efforts execute its growth strategy across the clean energy value chain.

Mr. Nicoll, added, "The proposed reverse stock split is a strategic initiative which aims to enhance the Company's visibility and appeal to a broader base of institutional and retail investors, improve liquidity, and strengthen its capital structure. This move is intended to position Thunder Power for accelerated growth, facilitate access to additional sources of capital, and support its long-term objective. The Board of Directors believes that the reverse stock split, if approved by stockholders, will provide greater flexibility to pursue strategic opportunities and partnerships as Thunder Power advances its ambitious business plan."

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

Share Exchange Transaction with Electric Power Technology Limited

At the Annual Shareholders' Meeting, shareholders of the Company will vote on the proposed issuance of Common Stock pursuant to a Share Exchange Agreement. Under the Share Exchange Agreement, as amended, the Company will acquire approximately 30.8% of TW Company's total issued and outstanding shares in exchange for newly issued shares of Thunder Power common stock. .

On March 4, 2025, TW Company announced that it entered into equity trading agreements with shareholders of Laiyang Solar Energy Co. (Laiyang) and Jinlaiyang Solar Energy Co. (Jinlaiyang) for the purchase of 4.4 megawatts generation capacity, which are expected to provide additional solar energy exposure for both TW Company and Thunder Power. Solar generation in Taiwan represented 5% of the electricity market in 2024. The Taiwanese government has set a target for 15% of the island's electricity to come from renewable energy sources by 2025. Solar is forecasted to grow to 35% of total installed generation capacity by 2035. TW Company is listed on the Taipei Exchange under the code 4529.

Approval of this proposal will allow Thunder Power to acquire significant strategic assets and expand its footprint in the renewable energy sector. If approved by stockholders, the transaction is expected to enhance Thunder Power's access to advanced technologies and manufacturing capabilities in Taiwan, supporting its long-term growth and global expansion strategy. 

By issuing additional shares as part of this transaction, the Company will strengthen its capital base, accelerate its growth initiatives, and position itself to capitalize on emerging opportunities in both the electric vehicle and clean energy markets. The Board believes this issuance is essential for executing Thunder Power's long-term strategy and delivering sustainable value to its shareholders.

The Company will continue to evaluate and pursue significant strategic transactions to strengthen its platform and expand its international footprint. Additionally, the Company continues to pursue partnerships and capital market initiatives to provide Thunder Power with greater financial flexibility as it moves toward commercialization of its clean energy strategy.

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
AIEV@dennardlascar.com 

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 listing 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.

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SOURCE Thunder Power Holdings, Inc.