Public EV startup with an indicted CEO is looking to raise an additional $100 million | TechCrunch
Briefly

from TechCrunch4 months ago
Thunder Power Holdings recently went public through a SPAC and is attempting to raise $100 million, despite its CEO facing serious criminal charges in Taiwan.
TechCrunchhttps://techcrunch.com/2024/09/06/public-ev-startup-with-an-indicted-ceo-is-looking-to-raise-an-additional-100-million/
Wellen Sham, CEO of Thunder Power, has been indicted on 11 charges, which include securities violations related to his connections with Electric Power Technology Limited.
TechCrunchhttps://techcrunch.com/2024/09/06/public-ev-startup-with-an-indicted-ceo-is-looking-to-raise-an-additional-100-million/
The Taipei District Prosecutor's Office has charged Sham on allegations of using his role in Electric Power to mislead, including instructing the distribution of false information.
TechCrunchhttps://techcrunch.com/2024/09/06/public-ev-startup-with-an-indicted-ceo-is-looking-to-raise-an-additional-100-million/
Despite the ongoing legal troubles and scrutiny, Thunder Power continues to pursue additional funding and has not publicly distanced itself from its CEO or his claims of innocence.
TechCrunchhttps://techcrunch.com/2024/09/06/public-ev-startup-with-an-indicted-ceo-is-looking-to-raise-an-additional-100-million/
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#electric-vehicles #spacs #corporate-governance #legal-issues #investment
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