XPeng Ends Exclusive Australian Partnership, Advances Local Presence; Qingdao Drives 57 Auto Projects Worth Over ¥100M Each

XPeng has officially terminated the exclusive agency rights of TrueEV, its former sole distributor in Australia. XPeng stated that over the past two years of cooperation, TrueEV experienced a cash flow crisis, was taken over by its financiers, failed to place any vehicle orders for more than a year, and breached its contractual obligations—including an order for 544 vehicles. Additionally, TrueEV engaged in public commercial disputes with local dealerships, severely undermining the foundation of trust. XPeng issued a notice of default pursuant to their agreement and revoked TrueEV’s exclusive agency status, though it retains its general agency role. TrueEV denied the operational issues cited and filed for an injunction in court, but the application was rejected by an Australian court on April 1. XPeng plans to establish itself in Australia over the next three years as a technology-leading brand with trusted user experiences, rapidly building out its sales and service network while advancing localized parts supply, logistics distribution, and technical support systems. On April 6, Voyah Automotive unveiled six exterior color options for the upcoming Voyah Taishan X8: Xuan Ying Black, Du Ruo White, Chen Xing Gray, Starlight Silver, Bixi Red, and Yuan Shan Blue. The model is expected to launch in the first half of 2026. BYD held a delivery ceremony in Shenzhen for the 2026 Seagull 06 GT, positioned as “the first GT car for young people.” Equipped with BYD’s second-generation Blade Battery and the latest flash-charging technology, the vehicle is priced between RMB 128,900 and RMB 169,900. Physical units have already arrived at dealerships nationwide, and delivery lead times have been shortened. SAIC Motor announced that starting in 2026, it will gradually roll out mass-produced models equipped with semi-solid-state batteries across its various brands. The company aims for total annual vehicle sales of 5 million units, operating revenue exceeding RMB 700 billion, and operating costs of approximately RMB 630 billion. Peng Lei, Product Director of Huawei Smart Selection Vehicles, revealed that technological upgrades at the Enjoy Auto Super Factory are nearing completion. Following this, deliveries of the Enjoy S9 and S9T models will accelerate, and trial production of new SUV and MPV models will commence. In March 2026, Dongfeng Motor achieved a market share of 8.23%, reaching a multi-year high. Its Q1 2026 sales totaled 528,000 units, up 12.3% year-over-year. Of these, 210,000 were new energy vehicles (NEVs), surging 52.3% YoY, while overseas sales reached 96,000 units, jumping 75.6% YoY. BASF and Qitian Robotics signed a memorandum of understanding to advance intelligentization and sustainability in the chemical industry. The Boyin Hechuang project has officially signed on to locate in Suzhou. Jointly funded 50-50 by Boyuan Capital and Galaxy General Intelligence, the project plans a RMB 1 billion investment to establish a research and industrial base for embodied intelligent robots in the Suzhou Industrial Park. ECARX Holdings reported 2025 revenue of USD 847.9 million, up 10% year-over-year, marking its second consecutive profitable quarter with a gross margin of 19%. Qianli Technology posted 2025 revenue of RMB 9.999 billion, up 42.13% YoY, and net profit of RMB 840 million, soaring 110.93% YoY. From January to February 2026, China exported 1.55 million vehicles, up 61% YoY, including 670,000 NEVs, which grew 88% YoY. During the same period, the automotive industry generated RMB 1.4824 trillion in revenue, down 0.9% YoY; profits totaled RMB 43.5 billion, down 30% YoY; and the industry’s profit margin stood at 2.9%. Chengdu Intelligent Connected Vehicle Technology Development Co., Ltd. increased its registered capital from approximately RMB 6.4 billion to about RMB 8.3 billion (a roughly 31% increase) and added Chengdu Jingkai Zhixing Private Equity Investment Fund Partnership as a new shareholder. Nine departments in Qingdao jointly issued the “Qingdao Automotive Industry Stability and Growth Work Plan,” setting a 2026 target of producing approximately 1 million complete vehicles, including 450,000 NEVs, and promoting the construction of 57 automotive industry projects each valued at over RMB 100 million. This includes 16 completed projects in 2025 with a total investment of RMB 14.2 billion, expected to generate RMB 12.8 billion in additional output value in 2026; as well as 28 ongoing projects with a total investment of RMB 15.8 billion, of which 27 are expected to be completed in 2026 and collectively add RMB 13.5 billion in output value upon full operation.