We are pleased to announce the successful business combination of Thunder Power Holdings Limited and Feutune Light Acquisition Corporation, resulting in the commencement of trading on Nasdaq under the new ticker symbol “AIEV”.

About Thunder Power Holdings

Thunder Power Holdings, Inc. (Nasdaq: AIEV), is a leading developer of premium passenger electric vehicles (EVs) distinguished by their superior design, quality, comfort, range, and price. With a steadfast commitment to innovation and advanced technology, Thunder Power is strategically positioned to secure a significant market share in the EV sector across the U.S., Europe, and Asia.

About Feutune Light Acquisition Corporation

Feutune Light Acquisition Corporation is a publicly traded special purpose acquisition company dedicated to identifying and merging with high-potential companies in innovative industries. The firm facilitates access to public markets, thereby accelerating growth trajectories and enhancing shareholder value.

About the Transaction

On June 21, 2024, Thunder Power Holdings Limited (“TPHL”) and Feutune Light Acquisition Corporation (“FLFV”) successfully consummated their previously announced business combination. The transaction, approved by FLFV stockholders on June 17, 2024, led to the formation of Thunder Power Holdings, Inc. The combined entity will commence trading on the Nasdaq Global Market under the ticker symbol “AIEV” on June 24, 2024.

Sergio Camarero, President of ARC Group, stated, “This merger is a significant milestone for both companies. We are proud to have played a role in bringing Thunder Power and Feutune Light together, and we look forward to seeing the combined company thrive in the market.”

Advisors

ARC Group proudly served as the sole financial advisor to Thunder Power Holdings Limited in this transaction.

About ARC Group

ARC Group is a global financial services and advisory firm with deep roots in Asia. We specialize in bridging markets between Asia, the US, and Europe. Established in 2016, we have grown to become a global leader in SPAC and IPO advisory. In 2020, we were recognized as the best global mid-market investment bank, and in 2022, we topped SPAC M&A charts both in the number of transactions and transactional value. Our services include IPOs, M&A, Financing, Venture Capital, and SPACs. With offices in 12 countries across 3 continents, your achievements are our reason for existence, and your growth is our passion.

For more information or any questions, please contact:

Sergio Camarero
President
[email protected]

For media inquiries, please contact:

Anna Sahlberg Carlsson
Marketing Manager
[email protected]