Feb 29, 2024 05:52 AM

BUSINESS

Embattled EV Maker HiPhi Approaches State Rival in Search for Revival

By An Limin and Han Wei

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HiPhi, the brand name of Human Horizons Group Inc., is teetering on the brink of collapse due to financial woes

China’s beleaguered premium electric vehicle startup HiPhi is reaching out to the state-owned automotive behemoth Changan Automobile Co. Ltd. as the cash-strapped carmaker faces a ticking clock in its quest for survival.

Ding Lei, the founder of HiPhi, visited the headquarters of Changan Automobile (000625.SZ) in Chongqing on Feb. 27 and met with chairman Zhu Huarong, Caixin learned.

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