Chinese EV maker Xpeng says vice president suspended for investigation related to corruption

BEIJING (Reuters) – Chinese electric vehicle maker Xpeng said its vice president Li Feng has been suspended for an investigation related to corruption, according to a company statement on Tuesday.

Media reports earlier said Li was Xpeng’s head of procurement.

“The incident affected a small area and did not affect business and production links,” the statement said.

Xpeng has been strengthening supply chain management this year and some supply chain staff have been investigated, the statement added.

(Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Andrew Heavens)