Xpeng Motors017 Archivesramping up efforts to restructure its sales force, which includes the closure of underperforming direct-sales stores and the opening of new dealership stores, in a move to reduce costs and improve efficiency, as reported by the financial media outlet Jiemian on Monday. Several sources have indicated that Tesla’s Chinese challenger expects this strategic shift, led by President Wang Fengying, to significantly increase its market share, particularly in Chinese third- and fourth-tier cities. This decision follows the reported merger of its direct and channel sales teams earlier this year, a step toward achieving more centralized control over pricing. According to its earnings reports, the company also reduced the number of its retail locations to 411 as of June, down from 425 three months prior. Chief Executive He Xiaopeng conveyed to investors on Aug. 18 that the company would undergo a “drastic” optimization of its sales network and establish partnerships with new top dealers. [Jiemian, in Chinese]
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