According to recent internet reports, it is rumored that AVATR has reached an agreement to acquire HiPhi. It is expected that HiPhi will resume operations this month. However, we have reached out to HiPhi’s official representatives for confirmation, but have not received any specific response.
Media sources have indicated that AVATR has been in contact with HiPhi and may have reached a cooperation agreement, as restructuring teams are already in place. AVATR, on the other hand, has stated that there is no further information to disclose at the moment. We are eagerly awaiting official announcements for further updates.
Development of Events Recap
Since late January or early February of this year, there have been ongoing reports about HiPhi’s channel optimization, work stoppages, and production halts. We have been continuously covering the latest developments surrounding HiPhi since February. Presently, it appears that HiPhi has indeed commenced work stoppages and production halts, with occurrences of employee departures and frozen equities. On February 22nd, HiPhi released a “Recent Service Operation Guarantee Notice” on its official app, stating that the company has made significant adjustments to its daily operations due to internal and external pressures and challenges. They are currently making every effort to implement various relief measures. During this period, HiPhi HiPhi officials will prioritize the service operations and after-sales maintenance of users’ vehicles.
However, HiPhi’s self-rescue efforts have not ceased. Previously, during a meeting with some HiPhi employees and owners, CEO Ding Lei stated that the window of opportunity for HiPhi’s turnaround is at most three months. There are many companies expressing interest in HiPhi, either for acquisition or investment, and he will actively strive for those opportunities.
On February 28th, we reported on CEO Ding Lei’s visit to Changan Automobile, and an internal source from HiPhi confirmed the authenticity of the visit and test drive. Both parties’ senior executives also had friendly communications. There were rumors circulating that Changan Automobile might acquire a 51% stake in HiPhi. Changan Automobile Chairman Zhu Huarong responded to media inquiries by saying, “Negotiations are ongoing, but we are far from reaching a final agreement.”
On March 1st, AVATR Technologies’ President, Chen Zhuo, expressed support for Ding Lei on Weibo. Chen Zhuo stated that Ding Lei is a respected industry veteran who has made significant contributions to the development of China’s automotive industry. “HiPhi is a company deserving of our respect, and it has also contributed to the development of China’s high-end brands. Although HiPhi is currently facing challenges, I firmly believe that under the leadership of CEO Ding Lei, HiPhi will overcome its difficulties.” Chen Zhuo stated at the time. Shortly after, both AVATR and HiPhi’s official accounts reposted the message. At that time, some netizens speculated that AVATR might take over HiPhi.
While the internet-exposed information has yet to be verified, it has ignited hope for HiPhi’s future development. We will continue to closely follow any further updates.
Avatr introduction
Avatr is a global brand that manufactures high-end smart electric vehicles (SEV). It is a collaborative effort between Changan Automobile, Huawei, and CATL (Contemporary Amperex Technology Co. Limited). Avatr is dedicated to exploring futuristic and user-centric mobility technologies, aiming to provide personalized and immersive intelligent travel experiences. The brand’s core values revolve around emotional intelligence and joyful self-expression. The company is based in Chongqing, China, with additional branches located in Shanghai, China, and Munich, Germany.
HiPhi introduction
HiPhi is a new luxury smart electric vehicle brand created through a collaborative approach by Human Horizons. The brand envisions establishing closer relationships between individuals and the world through co-creation, aiming to create a “harmoniously different” world. The brand spirit is characterized by exploration, freedom, and creativity.
The “Hi” in HiPhi represents high realms, high standards, and high compatibility. The “Phi” corresponds to the golden ratio rule, symbolizing symmetry, unity, and perfect integration. The brand logo design of HiPhi incorporates the golden ratio rule, creating a flawless geometric shape that perfectly represents the brand’s spirit and vision.In terms of time, it represents the connection between the past, present, and future. In terms of space, it signifies the fusion of Eastern and Western cultures, combining the “Φ” representing the golden rule discovered by Western philosophers and the “中” symbolizing the essence of Chinese thought. It represents a “harmoniously different” world.