Which Chinese manufacturer is heading towards bankruptcy?
- Published on 19/02/2024 11:45
- Modified on 26/09/2025 8:27
With its dubious design choices and unnecessary promises of electric performance, HiPhi does not seem to have made the right decisions.
The bubble of electric cars is starting to burst like the Internet bubble in the early 2000s. Too many actors, often illegitimate, have entered the market, raising huge amounts of money, some through potential elaborate scams…
Will it be the case for HiPhi, the Chinese manufacturer that aimed to outdate everything on wheels with an extravagant-looking sedan? The surprise does not hit us when we learn that employees are asked to stay home, that their January 2024 wages have not been paid, that they are encouraged to leave but are not dismissed. In short, there are no more Yuan in the coffers…
HiPhi did not own any assembly plant, but rented facilities from KIA in Yancheng (7.2 million inhabitants), located 300 km north of Shanghai.
How many HiPhi cars are in circulation?
It is impossible to say that HiPhi was an empty shell since its production is indeed certified. But it never grew over its three years of existence, remaining between 4,200 and 4,800 units from 2021 to 2023. Thus, less than 15,000 cars were produced, a volume too small to hope for survival.
Like a Ponzi scheme of marketing, HiPhi has constantly, over recent months, announced new plans to position itself in the hyper-performance market. A concept with 1,290 horsepower was presented in 2023, but customers are not willing to invest tens of thousands of dollars in cars with questionable design, safety, and survival prospects.
The utopia HiPhi seems to be over.
READ ALSO: A Tesla produced every 40 seconds in China
This page is translated from the original post "Quel est ce constructeur chinois qui file vers la banqueroute ?" in French.
We also suggestthese articles:
Also read
