Xpeng emphasized that the move does not affect businesses including commerce and production. The company fell more than 10 percent in the US on Monday.

In 2021, Li had been recognized internally by Xpeng for his significant contributions in coordinating supply chain resources and finding alternatives when China's EV supply chain was hit by negative factors, including chip shortages and Covid control, Caixin noted in another report (behind paywall) today.

Xpeng restructured its supply chain department at the end of 2022, merging the former supply chain services, marketing services procurement and parts procurement departments into the procurement department, with the new department headed by Li, Caixin said.

At an internal meeting held on October 9, Xpeng announced the suspension of Li, and a number of other named employees were asked to cooperate with the investigation, according to Caixin.

Xpeng unveils 'Jupiter Project' to recruit dealers for its sales system