HiPhi Auto's Parent Company Signs Strategic Agreement with iAuto

TapTechNews May 17th, it was reported by the Electric Vehicle Field today that Human Horizons, the parent company of HiPhi Auto, has signed a comprehensive strategic cooperation agreement with the automotive investment consulting platform iAuto in Hong Kong on May 10. Allegedly, iAuto plans to invest 1 billion US dollars (TapTechNews note: currently about 7.22 billion Chinese yuan) in Human Horizons.

In response to this, HiPhi Auto told Zhongzheng Taurus: The specific information of the cooperation between the two parties is subject to the official announcement, and more information please pay attention to the release on the official channels. Regarding when it will resume work and production, HiPhi said: HiPhi has been working hard and continuously promoting related work.

In addition, Interface News also reported that Human Horizons has issued an internal announcement announcing the establishment of a restructuring working group and a joint operation working group. The restructuring working group will be responsible for the restructuring from equity to all operation-related activities, and there are four subgroups including shareholder side affairs, government side, supplier side and employee side; the joint operation working group is responsible for the company's daily decision-making and operation, and there are seven subgroups including product planning, project design engineering, production and supply chain, marketing, finance, legal, human resources and comprehensive functions.

iAuto was jointly founded by professionals engaged in finance, investment and consulting services, and has extensive professional knowledge in the automotive industry. iAuto also has a large amount of technical reserves and has international patents in the field of clean energy vehicle powertrain and motor systems.

It is reported that the cooperation scope between iAuto and Human Horizons includes but is not limited to the production coordination to complete sales orders, equity mergers and acquisitions, technical cooperation, brand and international sales docking, and the relevant integration of supply chain and production manufacturing, etc. iAuto will fully support HiPhi Auto's plan to resume business operation and vehicle production.