Ding Lei said that he was using old-fashioned business strategies and was no match for his counterparts from Internet companies. He also said that there have been companies expressing interest in HiPhi, including acquisitions and investments.
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Li Auto CEO calls on China's policy makers to establish a mechanism to facilitate mergers and acquisitions between auto companies, amid widespread discussions over HiPhi's production halt.
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So it begins.
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Employees will be paid as usual until February 18, and after March 15 only HiPhi employees in Shanghai will receive basic pay, according to local media.
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HiPhi confirms salary payment delays after increasing rumors about financial problems.
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This is not a concept car, deliveries to start in 2025. Also the battery can discharge 1.5MW at its peak.
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Saudi PIF could invest at least $250 million in Human Horizons at a valuation of $3 billion, and a deal could be reached as early as this year, according to Bloomberg.
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Rumors on Chinese social media said HiPhi will lay off up to 20 percent of its workforce and up to 50 percent in some divisions.
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HiPhi has eliminated some premium features on the new variant of the HiPhi Z, thereby bringing down the starting price significantly.
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HiPhi Z City Version is a luxury EV sedan from China with 672 hp and 535 km of range. HiPhi Z is also available for reservations in Europe.
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