China Volkswagen probe not tied to antitrust investigation

By Dow Jones

Still, Volkswagen's Chinese partner, government-controlled FAW Group Corp. , said the two executives were put under investigation following China's latest round of routine inspections of official conduct at state-run companies, and not as part of the antitrust probe. "There is no need to speculate too much about the connection," said an FAW spokeswoman, who added that the company is cooperating.

A Chinese government probe into current and former executives at a Volkswagen AG joint venture isn't tied to an antitrust investigation into foreign auto makers, according to the auto maker and its local partner.

A few days after the audit report was issued, local anticorruption officials launched an investigation into Jing Guosong, then deputy general manager of FAW-Volkswagen's sales division, said the joint venture at that time.

The Communist Party's Central Commission for Discipline Inspection said Tuesday it has launched a probe into Li Wu, a former deputy general manager at FAW-Volkswagen, and Zhou Chun, a deputy general manager of the joint venture's Audi sales division.

Read more here: Business Spectator


You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>