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According to the China Executive Information Disclosure Network, Sichuan Mustang Motor Co., Ltd. was listed as a breach of trust by the Jianyang people's Court because it refused to perform its obligations under the effective legal documents because of its ability to perform. According to relevant legal documents, the company was sued by Shanghai Hanhai Inspection Technology Co., Ltd. for a dispute over the technology commissioned development contract and was sentenced to pay 709800 yuan to Shanghai Hanhai Inspection Technology Co., Ltd in installments.

The consumption restriction order of the people's Court of Jianyang City pointed out that because the Mustang failed to fulfill the payment obligations specified in the effective legal documents within the period specified in the execution notice, measures were taken to restrict the consumption of Mustang according to relevant laws. Mustang and its legal representative Xu Xiaoming are not allowed to carry out the following high consumption and non-essential consumption behaviors.

It is understood that Mustang is the only local vehicle manufacturing enterprise in Sichuan Province that has complete production qualifications for both new and traditional energy passenger cars and passenger cars, and has built an annual production base of 200000 fuel vehicles and new energy vehicles in Chengdu and Mianyang. However, at a time when traditional car companies are speeding up their elimination, Mustang is also in sales difficulties.

In December 2018, Mustang listed for sale of 82.5% of its shares at a transfer price of 1.2 billion yuan. In January 2019, Reading and Mustang signed a strategic restructuring agreement in Chengdu to acquire the production qualification of passenger cars through the acquisition of Mustang.

According to the data, Reading was founded in October 2012, with a registered and paid-in capital of 100 million yuan, and the legal representative is Wang Dejin. In the early stage, Reading mainly developed in the low-speed electric car market, and then acquired Shaanxi Qinxing Automobile and Sichuan Automobile Mustang to obtain the production qualification of new energy passenger cars, fuel passenger cars and passenger cars. In the passenger car market, it has successively launched reading i3, i5, i9 and other models, but these models are basically the same as low-speed electric cars, until the launch of the mango model, Redding did not have a sense of existence.

Since 2022, Reading cars have been frequently exposed to delay in dealer payments, and dealers have complained online or asked for help. On July 17, Reading added an equity freeze information to Sichuan Mustang Motor Co., Ltd., freezing the equity amount of 2.574 billion yuan for a period from July 17, 2023 to July 16, 2026. The enforcement court is the people's Court of Changle County, Shandong Province.

In this context, the Mustang is also difficult. Since the beginning of this year, Mustang has been involved in about 100 civil cases, mostly defendants, involving sales, loans and other contract disputes, up to 33 enforcement cases and 7 consumption restriction orders, involving a total amount of 171 million yuan. On July 21, Mustang Motor added a bankruptcy review case. The applicant was Chongqing Senmai Auto parts Co., Ltd., and the handling court was Chengdu Longquanyi District people's Court.

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