Human Horizons, HiPhi's parent company, has filed for bankruptcy and entered reorganization due to insolvency. The phase aims to avoid full bankruptcy through restructuring.
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HiPhi has been saved by US$1 billion cash injection by US registered iAuto Group. Deal leaves many unanswered questions.
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HiPhi has recently received a strategic investment from a Hong Kong-based organization that will help it resume operations and production, which could happen in late April or early May, according to local media.
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Avatr denies that it has bought HiPhi but does not deny that it is in talks to save the Chinese premium EV brand.
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Avatr has approached HiPhi and may have struck a partnership deal, with the two now reorganizing their teams, according to local media.
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HiPhi said that the X, Y and Z series models that have been mass-produced were developed by the company itself, or jointly with supplier partners, and have its own intellectual property rights.
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Faraday Future seeks monetary damages and demands that HiPhi's parent company, Human Horizons, immediately stop infringing on its trade secrets related to the FF 91.
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Chang'an is reportedly talking to HiPhi about a possible takeover. Internet sources claim a 51% stake.
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HiPhi began production halt on February 18 -- the first working day after the Chinese New Year holiday -- sparking fears about its fate.
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Rumors about HiPhi including that Huawei might buy the company. Also rumors of plagiarizing.
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