Tuesday, May 21, 2024

Refuses to save bankrupt Chinese car brand

On Monday it circulated that a rescue was on its way to the crisis-stricken HiPhi. But now the state-owned Avatr rejects the talk.

Similar to Nio's situation in Denmark, the Chinese brand HiPhi has also gone dormant in Norway.

Unlike HiPhi, however, Nio has not chosen to immediately shut down the production of electric cars. On Monday, however, it seemed that a lifeline was on its way out for the crisis-stricken Chinese. And even from some other Chinese.

Here it left in several media – i.a. CarNews China – that the state-owned Chinese brand Avatr was on the way to save HiPhi from bankruptcy.

But now they themselves go out of their way to flatly reject the story. It has nothing on it, it says. Avatr is not interested in HiPhi, which had to shut down production shortly after its launch in Europe.

READ ALSO: China brand has received billions in illegal state subsidies

– It is nonsense, said a spokesperson from Avatr about the possible acquisition of HiPhi to the Chinese media.

Unlike several other car brands from China, HiPhi does not have a large group behind it. And maybe that's why you lob for money in the month of February.

Shortly after production was put on hold, the car brand's founder said that they now had just three months to turn the tide. In other words, something positive must happen soon for HiPhi, if it is not all over.

The brand has otherwise received praise in a Norwegian long-distance test. Here it is said that HiPhi, as one of the few car brands that makes electric cars, actually keeps what it promises. That is, when it comes to the capacity of the battery. Read more about it here .

Read more exciting news from and about the world of cars right here!

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