Former executive of auto group investigated after retirement, another "big tiger" falls!

Recently, a major news has emerged in the automotive industry: a senior executive from a well-known automotive group in the southern region of the Yangtze River has come under investigation. According to informed sources, this executive held a high-level position within the group, but was unexpectedly taken away by the authorities after retirement. Reports indicate that a huge amount of cash was found at his residence, with the staggering amount leaving people in shock. At the same time, his family members were also implicated and taken for investigation, effectively involving the entire family. Currently, the group is facing significant operational challenges. Industry insiders believe that this incident might signal the beginning of a profound rectification process within the group.

The highest-ranking official in the automotive industry to fall from grace this year is Liu Weidong. On July 31, the Central Commission for Discipline Inspection and the National Supervisory Commission officially announced that Liu Weidong, former party committee member and deputy general manager of China North Industries Group Corporation Limited, was "double dismissed" (i.e., expelled from the Party and dismissed from public office) for serious violations of discipline and law.

In the field of local state-owned enterprises, only one case has drawn attention this year. On July 25, the Beijing Municipal Commission for Discipline Inspection and the Supervisory Commission announced that Zhang Chunsheng, former Minister of the Equipment and Power Department of a branch of Beijing Automotive Group Off-road Vehicle Co., Ltd. (non-Communist Party member), is under investigation by the Shunyi District Supervisory Commission for suspected serious violations of law.

On October 9, 2023, as an example, XPeng Motors internally announced the results of an investigation into the supply chain sector. The investigation revealed that Li Feng, the head of procurement in the supply chain field and Vice President of XPeng Motors, has been suspended. Additionally, several employees have been asked to assist with the investigation.

In the same year, 2023, Li Auto also launched an anti-corruption campaign. On December 27, according to a report by 36Kr, the former procurement director of Li Auto owned multiple luxury cars, with a total value of up to 15 million yuan. These included an 8 million yuan Rolls-Royce Cullinan, a 3.5 million yuan Rolls-Royce Phantom, a Ferrari sports car worth over 2 million yuan, and a Porsche sports car valued at over 1 million yuan. As early as the beginning of 2022, the finance department of Li Auto established a compliance department, targeting this flamboyant procurement head surnamed Liu. A few months later, the director was lawfully arrested for the crime of accepting bribes as a non-state employee.