Tuesday, 26 August 2014

China investigating managers at VW joint venture


The Chinese anti-corruption agency said Tuesday it is investigating one current and one former manager at Volkswagen's main joint venture in China.


A former deputy general manager of First Auto Works-Volkswagen, Li Wu, and a deputy sales manager of the venture's Audi division, Zhou Chun, are suspected of "serious violations," according to the Central Commission for Discipline Inspection said.


The one-sentence announcement gave no details. There was no indication Volkswagen AG was a target of the investigation.


A Volkswagen spokeswoman in Beijing declined to comment.


FAW-Volkswagen is a joint venture between the German automaker and state-owned FAW Group Corp. Phone calls to FAW and to VW spokespeople were not answered.


Global automakers are under scrutiny by Chinese anti-monopoly regulators. An official said earlier that Audi, Volkswagen's luxury unit, would face unspecified punishment for violating the anti-monopoly law.


A number of Chinese executives at major companies including PetroChina Ltd., Asia's biggest oil and gas producer, have been detained in a sweeping anti-corruption crackdown.



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