Summary by Moomoo AI
Xiaopeng Motor announced the termination of the relevant agreement with Taobao China on 19 March 2024 on 22 June 2011. The agreement allows Taobao China to nominate an Alibaba candidate as a director of Xiaopeng Motor, but the pledge lapses when Alibaba Group's holding is below 5%. Termination of the Agreement is based on voluntary consultations between the parties and does not affect cooperation between the parties in areas such as R&D and marketing services. He Xiaopeng, CEO of Xiaopeng Auto, expressed his gratitude for Alibaba's long-term support and looked forward to deep cooperation in the future. At the same time, Ms. Hu Xiao resigned as a non-executive director of Xiaopeng Automobile on the same day, and the Board of Directors thanked her for her contributions and wished her success in the future.