Caixin
Caixin Global – Latest China News & Headlines

Home >

By Tang Ziyi / Nov 14, 2018 06:19 PM / Business & Tech

Dong Mingzhu. Photo: VCG

Dong Mingzhu. Photo: VCG

Faraday Future isn’t the only electric vehicle company embroiled in drama.

Yinlong Energy has sued former company chairman Wei Yincang and former president Sun Guohua, accusing them of embezzling over 1 billion yuan, the company announced on its official WeChat Tuesday.

The action is being taken as a move by Dong Mingzhu, the company’s disgruntled stakeholder. Dong, the chair of appliance company Gree Electric, became Yinlong’s second-largest stakeholder in 2016. But she quickly grew disappointed with the company due to a series of problems including delayed payments and lagging technology, People's Daily reported.

Now the management at Yinlong Energy has been largely replaced by management from Gree, according to The Beijing News. 


Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.