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Xpeng responds to the termination of cooperation with Australian dealers: their exclusive agency qualification has been revoked.
Recently, Xpeng’s Australian dealer, TrueEV, entering administration has drawn attention. Xpeng responded on April 7, saying it has officially issued a notice of default to the other party, terminated its exclusive dealership qualification, but retained its dealer status. Xpeng said that during the past two years of cooperation, through multiple channels it learned that TrueEV had suffered a break in its funding chain and had been taken over by its financiers, and that it had not made vehicle purchases for more than a year, while also failing to fulfill orders including 454 vehicles. TrueEV also had an open business dispute with local dealers, severely damaging the trust between the two sides. Therefore, in accordance with the terms of the cooperation agreement, Xpeng formally issued a notice of default to the other party, terminated its exclusive dealership qualification, but retained its dealer status. (Beijing News)