EPTECH Business Summary

Electric Power Technology Limited (EPTECH), formerly known as Thunder Power Co., Ltd., operates as a diversified clean technology firm primarily focused on the development of electric vehicles (EVs) and renewable energy infrastructure. The company generates revenue through a transitionary model that has shifted from pure-play EV research and development toward the acquisition and operation of solar power generation assets and energy storage systems. Its primary business segments include the New Energy Automobile division, which utilizes proprietary modular chassis and battery management patents, and a growing Green Energy segment that manages a portfolio of solar projects in Taiwan, including a 4.4-megawatt generation capacity acquired in 2025. EPTECH competes with local automotive and energy players such as Foxconn (Foxtron), Yulon Motor, and United Renewable Energy (URE); it currently occupies a distressed niche in the market, characterized by a strategic pivot to stabilize its balance sheet following a period of low net worth and altered trading status on the TPEx. Leadership is centered around Founder, Chairman, and President Wei (Wellen) Shen, a veteran of the automotive and industrial sectors with a pedigree that includes engineering and management roles at Ford Motor Company, Eaton Electrical, and Gates Corporation. Shen holds advanced degrees from Beihang University, the University of Michigan, and the Massachusetts Institute of Technology (MIT), providing the technical foundation for the company’s extensive patent portfolio in EV thermal management and chassis design. The executive team is closely integrated with its U.S.-affiliated entity, Thunder Power Holdings, Inc. (NASDAQ: AIEV), led by CEO Christopher Nicoll. The board includes independent directors such as Wei-Zhong Lian and Qi Wen Chen, who oversee the company's restructuring efforts and its expansion into the Taiwanese renewable energy market under government-backed sustainability targets.