Hiphi: Problems in China could threaten the brand

Financial problems Chinese luxury brand Hiphi halts production

2024-02-23 Source: sp-x | Translated by AI 1 min Reading Time

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For years, the number of new car brands from China has been increasing in Germany. However, some might disappear again in the short term. At any rate, the luxury brand Hiphi seems to be facing difficulties.

With the "Z," Hiphi offers an electric car that is striking and impressive in multiple respects. Whether the brand has a future, however, remains to be seen.

(Image: Hiphi)

Since the year 2023, among the newcomers from China in the German automotive market is also the premium manufacturer Hiphi. Last fall, the electric car brand founded by mobility conglomerate Human Horizons opened a showroom at Munich Airport and officially opened the order books for two models. However, in China, massive problems are currently emerging that feed doubts about the brand's continued existence.

As reported by the magazine "Car News China" and the platform "Cn EV Post," Hiphi has suspended production at its sole factory in the eastern Chinese metropolis of Yancheng. There is talk of a six-month break. Additionally, January salaries of the furloughed factory workers are to be paid at the end of February, and upcoming salaries for remaining staff are to be significantly reduced.

Low sales numbers in China

The factory in Yancheng is part of a joint venture founded by Kia. For many years, Kia models for the Chinese market have been produced there. Since the end of 2021, electric cars from Hiphi have also been rolling off the assembly line there, which Human Horizons lets its own employees build. So far, however, in quite small numbers. According to "Car News China," a total of just over 13,000 Hiphi brand vehicles have been sold in China in the past three years.

Despite the low sales figures in China, Hiphi has stuck to its expansion plans into Europe. Parallel to the launch in Germany, the Chinese entered Norway. There, Hiphi even made positive headlines in early February because the “Z” model could win the Norwegian winter range test “El Prix”.

However, Hiphi apparently has not sold many cars. In the Europe-wide new registration statistics of market observer Jato, there are only five Hiphi vehicles for 2023.

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