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Another exec at FAW investigated by China’s watchdog

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Another exec at FAW investigated by China’s watchdog

China’s anti corruption enforcers are probing another former senior executive of the FAW Group, the latest target in the series of probes against the company.

FAW, which is state-owned, has a joint venture with Volkswagen, being one of the two car manufacturing ventures the German auto brand has in China. Last Friday, Chinese Communist Party’s discipline watchdog said that FAW’s former deputy manager, An Dewu, was investigated for “suspected serious violations of the law.” In China, the term can be used to point at corruption. An Dewu or any of his representatives could not be reached for comments.

The Central Commission for Discipline Inspection, China’s corruption watchdog, announced the investigation on An a few days after it stated that it was inquiring into another former and one current executive at the company for “seriously violating the law.”

As Beijing increased its enforcement of anti-monopoly laws, Volkswagen’s luxury brand Audi and other foreign car makers including Daimler’s Mercedes-Benz and Chrysler have been under investigation in China for their pricing practices.

Earlier this month, China’s price regulator – the National Development and Reform Commission (NDRC) – stated that Audi and Chrysler would be fined for their monopoly practices.

FAW officials could not be contacted to comment on the situation, spokesman for FAW-Volkswagen, Li Pengcheng, saying that he “does not know” anything about the investigation or the FAW queries.

By Gabriela Florea

by Aurel Niculescu (my Google+) - Monday, September 1st, 2014 - filed under Industry, News, Volkswagen. Image credit: .
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