Thunder Power Holdings, Inc. (AIEV) received approval from Taiwan’s Ministry of Economic Affairs on March 4 2026 to complete a share‑exchange with Electric Power Technology Limited (TWSE: 4529), a listed renewable‑energy developer on the Taipei Exchange.
Under the agreement, Thunder Power will issue approximately 37.6 million AIEV shares in exchange for about 31.6 million ordinary shares of Electric Power Technology, giving Thunder Power roughly 30.8 % ownership of the solar‑power company after shareholder approval.
Thunder Power has reported nil revenues and significant net losses in recent periods, and it was delisted from Nasdaq amid a “going‑concern” warning. The share‑exchange is intended to diversify the company’s revenue base by adding recurring clean‑energy income from Electric Power Technology’s solar‑power projects, thereby addressing liquidity concerns and supporting future commercialization efforts.
"This approval from the Taiwan government is a pivotal milestone in our strategy to integrate advanced clean‑energy assets from Taiwan into Thunder Power’s international EV and clean‑energy platform," said CEO Christopher Nicoll. "The transaction is expected to better position us to participate in Taiwan’s long‑term push to expand renewables and solar within its national power mix as national targets evolve through 2026."
The deal represents a strategic pivot for Thunder Power, moving beyond its pre‑revenue electric‑vehicle focus toward a more balanced portfolio that includes renewable‑energy generation. By securing a significant stake in a leading Taiwanese solar developer, Thunder Power aims to generate stable cash flows that can offset its current operating losses and support future growth initiatives.
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