Thunder Power Holdings Inc (NASDAQ: AIEV) is an electric vehicle company that is developing and plans to manufacture premium EVs, with operations structured around vehicle development, strategic alliances and mergers and acquisitions, and trade and consulting. The company has not yet generated revenue from vehicle sales as of the 10-K filed April 7, 2026. Thunder Power is a holding company incorporated in the British Virgin Islands on September 30, 2015, with its wholly-owned subsidiary Thunder Power New Energy Vehicle Development Company Limited (TP NEV), established in the British Virgin Islands on October 19, 2016, holding 154 issued U.S. patents covering proprietary EV technologies. The company's intended products combine Italian design with proprietary drivetrain systems, infotainment, cybersecurity, telematics, and electrical architecture hardware and software. CEO Christopher Nicoll and Chairman Chiwen Chen lead the company. As of December 31, 2025, the company carried no manufacturing operations and remained pre-revenue, relying on external financing and third-party suppliers for components and manufacturing equipment.

Revenue model

No revenue has been reported in the 10-K filed April 7, 2026. The company is pre-revenue and pre-production. A potential future revenue stream from technology licensing is noted but no licensing agreements had been finalized as of the filing date.

Products and services

Thunder Power family of premium electric vehicles (EVs), built on proprietary technologies including drivetrain systems and controls, infotainment, cybersecurity, telematics, and electrical architecture hardware and software. TP NEV holds 154 issued U.S. patents as of the filing date. No vehicles have been commercially produced or sold as of the 10-K filed April 7, 2026.

Customers and end markets

No customers or end-market revenue data disclosed in the 10-K filed April 7, 2026. The company targets the premium EV market but has not yet delivered vehicles to customers.

Value-chain role

Pre-production EV developer and holding company. Relies on third-party suppliers for key components, materials, and manufacturing equipment. TP NEV holds the patent portfolio. Thunder Power intends to act as vehicle developer and manufacturer once production begins.

Geographic exposure

Incorporated in the British Virgin Islands. The 10-K filed April 7, 2026 does not specify primary operating geographies or sales markets.

Source: SEC 10-K, filed 2026-04-07

Industry: Motor Vehicles & Passenger Car Bodies