Chinese EV Startup HiPhi’s Founder Tries to Save Company in Three Months

What’s new: The founder of troubled Chinese luxury electric vehicle startup HiPhi said companies had made approaches to the carmaker for potential acquisition, investment or restructuring, and it may now have a three-month window to try to stay afloat.

The brand under Shanghai-based manufacturer Human Horizons Group Inc. announced internally on Sunday that it would halt production for six months due to financial difficulties. Its founder Ding Lei updated employees on developments on Thursday evening.