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XPeng Denies Connection as Ex-Apple Employee Charged with IP Theft

By Michael Elkins Chinese electric automaker Xpeng (NYSE:XPEV) issued a statement on Tuesday in response to Apple's (NASDAQ:AAPL) lawsuit against a former employee for stealing...
XPeng Denies Connection as Ex-Apple Employee Charged with IP Theft © Reuters. XPeng (XPEV) Denies Connection as Ex-Apple (AAPL) Employee Charged with IP Theft

By Michael Elkins

Chinese electric automaker Xpeng (NYSE:XPEV) issued a statement on Tuesday in response to Apple's (NASDAQ:AAPL) lawsuit against a former employee for stealing trade secrets, saying the company had nothing to do with it.

"Today, we learned from the media about the latest developments in the case of former Apple employee Zhang Xiaolang's suspicion of stealing Apple's trade secrets. It has been more than four years since the incident, and XPeng is not aware of the specific circumstances of the situation and has not been involved in the follow-up investigation by the US judiciary," XPeng said on Weibo.

Zhang Xiaolang joined Apple in December 2015, designing and testing circuit boards to analyze sensor data. In April 2018, Zhang returned to China for paternity leave. When he returned to California, Zhang offered to leave the job because he had to take care of his sick mother, and he told his boss that he would join XPeng in China.

After Zhang returned his company-issued phones and laptop, Apple’s technical security team found that Zhang searched and downloaded some confidential data. Zhang was also photographed allegedly trying to dismantle test circuit boards and Linux servers and take them away.

Zhang was arrested by the FBI in 2018 during a security check at the San Jose Airport.

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01-05-2024 10:45:17 (UTC+7)

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USD/JPY

157.91

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AUD/USD

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1.3780

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168.32

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
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SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
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