In a dramatic turnaround for the mainland's largest rechargeable battery maker, charges that BYD poached trade secrets from rival Foxconn International Holdings have been dropped and government officers investigating the complaint have instead been arrested.
News that an investigation prompted by the Foxconn complaint has now been dropped was released in a statement to the stock exchange by BYD yesterday.
The statement said the Public Security Bureau had instead arrested 'certain responsible officers, namely Zhao Jun, Chen Yong and Liu Fuxing of Beijing JZSC'.
Beijing JZSC Judicature Appraisal Centre for Intellectual Property was set up by the government to investigate patent, trademark, copyright, computer software and trade secret infringements.
Also arrested, according to the statement, was former BYD employee Zhang Chaozheng, who was charged by the People's Procuratorate with accepting a bribe from Foxconn-related companies and stealing confidential information.
A probe by the bureau into BYD non-executive director Xia Zuoquan was also terminated, according to the statement.
