HiPhi Auto's Parent Company Signs Strategic Cooperation Agreement with iAuto
TapTechNews May 17th news, according to the car media Electric Car Field report, the parent company of HiPhi Auto, Human Horizons, has signed a comprehensive strategic cooperation agreement with the automotive investment consulting platform iAuto in Hong Kong on May 10th.
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 holds international patents in the field of clean energy vehicle powertrain and electric motor systems.
The scope of cooperation between the two parties includes but is not limited to the production coordination for completing sales orders, equity mergers and acquisitions, technical cooperation, brand and international sales docking, and the relevant integration of supply chain and manufacturing. iAuto will fully support the resumption of work and production of HiPhi Auto. With the support of its finances, technology and related resources, HiPhi Auto has begun to rebuild the team and resume production orderly.
It is reported that under the guarantee of relevant investment institutions, iAuto plans to invest 1 billion US dollars (TapTechNews note: currently about 7.22 billion yuan), as the special fund for the first round of Human Horizons' reorganization, and the goal of both parties is to complete the transaction before the release of the first half of 2024 financial report.
The relevant person in charge of HiPhi Auto said, The specific information of the cooperation between the two parties is subject to the official announcement. For more information, please pay attention to the release of the official channels; during this period, thank you for your concern, we have been working hard and continuously promoting related work.
It is also reported that the cooperation between the two sides also helps to develop new means of transportation and power generation, and ultimately realizes the corporate goal of Human Horizons, completely changing people's commuting methods. The cooperation between the two sides will pioneer the precedent of the reorganization of the Chinese auto industry and realize the successful landing of policies such as promoting effective enterprise reorganization, resolving overcapacity, and optimizing the business environment in various cities.
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It is said that HiPhi Auto resumes work and production at the end of April - early May, and there is already a strategic investment from a certain institution in Hong Kong.