Recently, we learned from overseas media that iAuto Group has officially signed a comprehensive strategic cooperation agreement with Chinese Express, and HiPhi Automobile is expected to be relisted.
IAuto Group plans to invest up to $1 billion to help Chinese Express rebuild its team and resume production, with plans to complete the transaction before the release of its financial report in the first half of 2024.
iAuto Group Inc. (“iAuto”) and Chinese Express officially signed a comprehensive strategic cooperation agreement on May 16, local time in the United States. The scope includes: cooperation in HiPhi automobile production, which is about to resume in order to fulfill sales orders, cooperation in equity restructuring and mergers and acquisitions, cooperation in technology and research and development, engineering, integration of brand and domestic and foreign marketing, integration of supply chain and production manufacturing, etc.
IAuto Group is registered and established in Delaware, USA, and has a wealth of patented technologies in the field of clean energy vehicle powertrain and motor systems. It promotes the use of true clean energy to replace fossil fuels and eliminate vehicle pollution worldwide. I chose Chinese Express because Gaohe’s innovation in design and technology has been validated.