Death Knell Sounds as Chinese EV Maker HiPhi Enters Bankruptcy Process

(Bloomberg) — Chinese electric vehicle (EV) maker Human Horizons Group Inc., the company behind the premium HiPhi brand, has filed for pre-bankruptcy restructuring — falling victim to China’s cutthroat auto market.

The manufacturer lodged an application to a People’s Court in Yancheng, the eastern Chinese city where its factory is located, saying its assets could no longer cover its debts as of April and fulfilled the conditions for a bankruptcy, according to a court document published Thursday.