Tuesday saw the Chinese manufacturer Xpeng announcing the suspension of Li Feng, its vice president in charge of supply chains, for a corruption investigation.
“Xpeng is firmly opposed to corrupt practises. A corporate spokeswoman told CNBC, “We continue to be attentive in spotting and immediately addressing any instances of wrongdoing.
“We would like to make it clear that the recent internal anti-corruption measures implemented by the company are part of our continued commitment to supporting ethical behaviour and integrity and that this occurrence has had only a minor impact and won’t interrupt our business or production operations,” the statement reads.
At the Chinese electric vehicle manufacturer, Feng managed purchasing.
In pre-market trading on Wednesday, shares of Xpeng were up almost 2%.
Source (CNBC)