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HomeTechnologyFor a Corruption Investigation, Xpeng Suspends the Head of the Supply Chain

For a Corruption Investigation, Xpeng Suspends the Head of the Supply Chain

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)

SourceCNBC
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