BYD signs major PCTC cooperation deal with Hyundai Glovis
China’s BYD, the world’s largest electric vehicle maker, has signed an agreement with South Korean ...
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 at the start of the month.
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