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Chinese EV brand Xpeng has suspended a senior executive over alleged corruption.
Lǐ Fēng 李丰, Xpeng's vice-president for supply chain procurement, was removed from his position and questioned by police after an internal corruption investigation.
At an internal meeting of Xpeng Motors, Li Feng, the head of supply chain procurement, was suspended, and many employees were asked to cooperate with the investigation.
在小鹏汽车内部会议上，供应链环节上的采购部负责人李丰被停职，且有多名员工被点名留下要求配合调查。
“This incident has had limited impact and will not disrupt our business or production processes,” Xpeng told the Financial Times.
The Chinese electric vehicle start-up backed by Volkswagen has given no further details.
Xpeng is not the only EV firm in China tackling corruption. BYD, Great Wall Motors, and others, have recently announced internal anti-corruption drives as the sector seeks to maintain rapid growth of the last few years.
Discussions in the Chinese media indicate that many saw Xpeng's issues coming:
In the first half of this year, Xpeng Motors net loss reached 5.142 billion yuan, a further increase of 16.8%. At the same time, the company's gross profit margin also hit a "Waterloo moment", with gross profit margin in the first half of the year being -1.43%, and automobile gross profit margin falling to -5.9%. Some people believe that this anti-corruption effort is the aftershock of the "Waterloo moment" of Xpeng's G9 launch in September last year.
今年上半年，小鹏汽车净亏损达51.42亿元，亏损幅度扩大16.8%。同时毛利率也遭遇了“滑铁卢”，上半年毛利率为-1.43%，汽车毛利率跌至-5.9%.... 所以有人认为，这次反腐是去年9月份小鹏G9首发遭遇“滑铁卢”的余波。
This is referring to the disastrous launch of Xpeng's G9 flagship model in September last year.
In September 2022, Xpeng launched the G9 model. But hundreds of orders had to be cancelled on the launch day because of complications with model configurations and confusing pricing. Although Xpeng immediately made adjustments, reduced prices, and increased distribution, the damage was already done. The company only delivered 120,000 vehicles in 2022, which was less than half of Li Auto's annual sales, and short of NIO sales, another fast-growing EV brand.
2022年9月，小鹏G9作为新旗舰车型发布上市。 就在上市当天，因车型配置复杂、定价混乱被用户退订单。虽然小鹏汽车立刻根据反馈作出调整，降价增配，但损失显然难以挽回。小鹏汽车去年累计交付仅12万辆，被理想、蔚来等超越，且未达理想年度销量目标的一半。
In January this year, Xpeng made a significant hire to help address its internal problems.
Wang Fengying, who was parachuted into Xpeng Motors in January, is a key figure in this internal anti-corruption campaign. Previously, some employees of Xpeng told the media that colleagues involved in the procurement department were taken away by the police on their way to work. These colleagues have close ties with suppliers and handle relevant contracts.
1月空降小鹏汽车的王凤英，是本次内部反腐的关键人物。此前，就有小鹏内部员工对媒体表示，内部涉及采购板块的同事在上班途中被警方带走。这些同事与供应商联系紧密，操办了相关合同。
Xpeng's woes are a sign of more to come in China's EV sector:
In 2022, more than 10 cases involving leaders or employees of a number of automotive companies suspected of violating laws were exposed in China. Nowadays, as the competition in the NEV market becomes fiercer, new energy vehicle companies have also begun to crack down on corruption. Xpeng is not the first, and it will not be the last.
2022年国内曝光了10余起车企领导或员工涉嫌违纪违法的案例，涉及多家车企。如今，随着新能源车市场竞争走向白热化，新能源车企们也开始对反腐重拳出击，小鹏汽车不是第一家，也不会是最后一家。[3]
So that's what we are exploring this week!
Favourite Five
1. 内鬼 nèi guǐ
internal traitor
如今小鹏汽车开始在供应链上整治“内鬼”，或许是开了一个好头 - Nowadays, Xiaopeng Motors has started to clean up the "internal traitors" in its supply chain, perhaps setting a good example. [1]
2. 荡涤 dàng dí
cleanse, purify
中国汽车行业的反腐行动，荡涤了市场、销售、公关、广告等诸多领域 - The anti-corruption campaign in the Chinese automotive industry has cleansed various sectors such as the market, sales, public relations, and advertising. [1]
3. 滑铁卢 huá tiě lú
Waterloo, significant defeat or setback
有人认为，这次反腐是去年9月份小鹏G9首发遭遇“滑铁卢”的余波 - Some believe that this anti-corruption campaign is the aftermath of the significant setback suffered by Xiaopeng G9 when it was first launched in September last year. [1]
4. 刀刃向内 dāo rèn xiàng nèi
turn the blade inward, to address internal issues directly (at the risk of self-sacrifice)
小鹏汽车成为首家刀刃向内，通过警方介入推动内部管理的造车新势力 - Xiaopeng Motors became the first automotive newcomer to turn the blade inward, using police involvement to drive internal management improvements. [2]
5. 动之以情，晓之以理 dòng zhī yǐ qíng, xiǎo zhī yǐ lǐ
to motivate or persuade through emotional appeal and logical reasoning
他除了对全员晓之以梦想、动之以使命愿景，最后还格外告诫——务必要警惕内部贪腐 - In addition to inspiring the entire team with a vision of dreams and a sense of mission, he also emphasised the need to be vigilant against internal corruption. [1]
Note: Credited to Hu Xueyan 胡雪岩, a Qing Dynasty businessman turned writer.
Consuming the Conversation
Useful words
6. 蛀虫 zhù chóng
internal parasite, someone who undermines from within
小鹏汽车在今年年初在内部就开始了“抓蛀虫”行动，甚至当时有员工还在上班途中， 被带走调查 - Xiaopeng Motors initiated a campaign to "exterminate parasites within the company" earlier this year. In fact, some employees were even taken away for investigation on their way to work. [1]
7. 毒瘤 dú liú
cancerous tumour, harmful growth or influence
这一次何小鹏准备借助法律之手直接挖掉破坏肌体健康的毒瘤 - This time, He Xiaopeng is planning to directly remove the tumour that is harming the health of the organisation with the help of the law. [2]
8. 剑指 jiàn zhǐ
point the sword at; aim at
汽车行业反腐，剑指采购领域 - The anti-corruption campaign within the automotive industry directly targets the procurement sector. [1]
9. 落寞 luò mò
lonely, desolate
这两年来，相比于蔚来和理想汽车，小鹏汽车的处境可能稍显落寞 - Over the past two years, the situation for Xpeng may have appeared somewhat lonely compared to NIO and Li Auto. [1]
10. 肃清 sù qīng
eliminate, eradicate
腐败行为降低员工获得感和对公司的信任度，肃清腐败，公司才能健康发展 - Corruption lowers employees' sense of achievement and trust in the company, so eradicating corruption is essential for the healthy development of the company. [3]
More: to clear away, in relation to corruption
Related:
盘剥 pán bō - exploit
削弱 xuē ruò - weaken
11. 滋生 zī shēng
breed, foster
汽车行业因其重资产、高投入、产业链长等特点，容易成为腐败滋生的温床 -Due to its heavy capital, high investment, and long supply chain, the automotive industry is prone to becoming a breeding ground for corruption. [3]
Three-character phrases
12. 重灾区 zhòng zāi qū
epicentre; heavily affected area
伴随汽车产业的日益壮大，汽车交易市场也日趋复杂，市场销售、媒体公关、广告宣传等涉及庞大资金往来的部门，很容易成为腐败问题重灾区 - With the rapid growth of the automotive industry, the automotive trading market has become increasingly complex. Departments involving substantial financial transactions, such as marketing, media relations, and advertising, are prone to becoming hotspots for corruption issues. [1]
13. 拦路虎 lán lù hǔ
roadblock, obstacle
