Chinese premium electric vehicle manufacturer HiPhi may go bankrupt due to financial problems. In this respect reports carnewschina.com. Rumors about the unstable state of the company appeared at the beginning of 2024.
It was noted that the company postponed salary payments to its employees in January 2024, canceled bonuses based on business results in 2023, and reduced the salaries of its senior managers.
There were also rumors in January that HiPhi car production and research and development were suspended. In response to these reports, HiPhi representatives stated that the company continues its operations. However, on February 7, information emerged that the company asked its employees to switch to working from home. At the same time, workers were not given the opportunity to perform their duties.
HiPhi is a premium brand of Chinese company Human Horizons. Sales of the brand’s first electric car, HiPhi X, started in 2021. Two more models were launched in 2023 – HiPhi Z and HiPhi Y.
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