Mexican Media Brands
BYD Hit by Fraudulent Market Sponsorship Deals
BYD Co. has asked Chinese authorities to investigate a non-employee who allegedly signed big marketing contracts on behalf of the company.
#marketing
Share
BYD Co. has asked Chinese authorities to investigate a non-employee who allegedly signed big marketing contracts on behalf of the company.
The electric car company says the illegal dealings began three years ago. The unnamed suspect has signed dozens of deals in BYD’s name since then.
The most recent apparent example is a bogus deal in April that named BYD as an official sponsor of Arsenal, the British soccer club, Bloomberg News reports. BYD says the unidentified suspect is not authorized to conduct business in its name and is not now and never has been an employee of the company.
BYD disclosed some details in June but now says the scope of impact on the ad industry is greater than originally thought, Bloomberg says. The Shanghai Public Security Bureau is investigating.
RELATED CONTENT
-
Chevy Tahoe Back in Black
Last August, Sandor Piszar, Chevrolet Trucks marketing director, noted of the full-size SUV segment, “In the past five years, the average transaction price for the segment has climbed fueled by customer appetite for features like heated and cooled seats, adaptive cruise control and a head-up display.
-
Ford’s U.S. Marketing Director Quits
Chantel Lenard, executive director of U.S. marketing at Ford Motor Co., has quit after 25 years with the carmaker.
-
Freudenberg Takes on Electrification
Freudenberg Group is adjusting its automotive operations as carmakers turn to electrification, notes Matthew Chapman, vice president of sales and marketing for the company’s e-Mobility business.