The Tianyancha App shows that on May 22, Jiangsu Hiphi Automotive Co., Ltd. was established, with Jihad Mohammad as the legal representative and a registered capital of approximately 143 million US dollars.
The business scope includes road motor vehicle manufacturing, automotive parts R & D, and engineering and technology research and experimental development. It is jointly owned by EV Electra Ltd. and Human Horizons (Jiangsu) Technology Co., Ltd.
Previously, due to financial issues, Human Horizons Jiangsu Company applied for bankruptcy in August 2024. Notably, the People’s Court of Yancheng Economic and Technological Development Zone in Jiangsu recently ruled to approve the substantive consolidation and bankruptcy reorganization of Human Horizons Jiangsu Company and 51 other companies.
The ruling announcement shows that the merged book assets of the 52 Human Horizons-related companies total 5.983 billion yuan, while the liabilities book reach as high as 15.781 billion yuan. During the pre-reorganization period, the total amount of creditors’ claims declared reached approximately 22.8 billion yuan, and the amount of claims preliminarily reviewed and confirmed by the interim administrator exceeded 10 billion yuan.
Human Horizons and EV Electra have set up a new company, signaling a key step in its business reorganization. EV Electra Ltd.’s equity participation has injected fresh capital and resources into Hiphi Automotive. Human Horizons’ shareholding preserved its technical assets and brand value.
CNEVHome has learned that EV Electra has now integrated the Hiphi brand into its official website, where all models under Hiphi can be viewed.
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