Xiaopeng responds to the rupture of exclusive cooperation with Australian distributors.

Recently, Xiaopeng, the exclusive agent of TrueEV in Australia, entered into receivership, attracting attention. Xiaopeng responded to First Financial that during the past two years of cooperation, Xiaopeng learned through multiple channels that TrueEV has experienced a break in its funding chain and been taken over by its financing party, and has not purchased vehicles for over a year, while also failing to fulfill obligations including 454 cars in orders. TrueEV has also had public commercial conflicts with local dealers, severely damaging the trust between the two parties. Therefore, Xiaopeng, in accordance with the cooperation agreement, formally issued a notice of breach to TrueEV, terminating its exclusive agent status but retaining its agency identity. However, TrueEV denies the existence of the above-mentioned operational problems and instead is seeking legal recourse against Xiaopeng. The local Australian court rejected its related injunction application on April 1st. Xiaopeng's goal in the future three years is to establish Xiaopeng in Australia as a leading technology brand that is not only technologically advanced but also trustworthy in user experience. At this stage, Xiaopeng is quickly and systematically building a sales and service network, especially with partners who have been deeply rooted in the local market for many years, prioritizing user experience. Xiaopeng will also soon launch a faster response localized parts supply system, logistics distribution system, and technical support system.