Xpeng supply chain VP suspended in corruption probe

Photo: Timon Schneider | Dreamstime.com

Chinese electric-car maker Xpeng has suspended its VP for supply chains, Li Feng, as part of a corruption probe, according to CNBC. Providing scant detail, a spokesperson for the automaker said it had a “strict stance against corrupt activities”. The market seemingly has responded positively to the news, Xpeng shares rising 2% in the wake of the announcement. This, however, comes amid investor concern following the violence in the Middle East – Xpeng delivered 750 vehicles to Israel ...