Human Horizons, the Chinese company aiming to conquer the European electric car market with its HiPhi brand, has filed for bankruptcy.
Nearly six months ago, there were already signs of trouble for the company behind the HiPhi brand.
Now, it has been confirmed: Human Horizons has filed for bankruptcy, according to several media reports, including Automotive News.
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Showrooms Closed and Emptied
The luxury electric car brand, which had ambitious plans to rival Mercedes, Audi, and BMW, initially impressed car enthusiasts at the beginning of the year by winning a prestigious cold weather test in Norway.
The HiPhi vehicle covered 522 kilometers on a single charge, outperforming highly praised models like the Hyundai Ioniq 5 and Tesla Model 3.
Following this success, HiPhi announced that it was ready to conquer the European market.
But this attempt ended in a fiasco.
The company managed to open showrooms only in Munich, Germany, and Oslo, Norway.
According to the Norwegian media outlet Tek, only five vehicles have been sold across Norway since the Oslo showroom opened in 2023. That showroom is now closed and empty.
"Enormous Pressure"
Despite the current situation, the end of the crisis-ridden car brand may not be final.
According to Autonews, Human Horizons is in talks with major Chinese corporations such as Changan and FAW, which could potentially acquire parts of the company and continue operations.
Kjell Arne Wold, HiPhi's European head, explained that the company is undergoing a "necessary and comprehensive" restructuring, which will include bringing in new owners.
"The plan is to relaunch the cars in six to twelve months, including the introduction of a new model. Everything should be sorted out by the end of the year," said Wold.
