HiPhi, the premium electric vehicle (EV) brand under China’s Human Horizons, is preparing to restart operations following a reported majority investment from Lebanese firm EV Electra Ltd., according to Chinese media sources.
Ownership of HiPhi has shifted, with Human Horizons now holding a 30.2% minority stake, while EV Electra has acquired 69.8% of the company. The move follows over a year of production suspension at HiPhi’s Yancheng factory in Jiangsu province, which began in February 2024 amid financial difficulties and failed acquisition talks.
HiPhi, known for its futuristic EV models such as the HiPhi X, Z, and the Model Y competitor HiPhi Y, made early inroads in European markets, including Germany and Norway. However, production was halted amid a reported six-month operational pause that ultimately extended into 2025. In August 2024, local media reported that Human Horizons was nearing insolvency, deepening uncertainty about the brand’s future.
A report by 21jingji, cited by CN EV Post, said a new entity—Jiangsu HiPhi Co Ltd—has been established with a capital injection of approximately $143 million. The brand is reportedly preparing to rehire former staff and restart production of its existing models at the original facility.
“The investment commitment from Lebanon could signal a turning point for HiPhi, which has struggled to maintain momentum in a competitive EV market,” one report noted.
This marks another strategic expansion for EV Electra, which has been gradually increasing its footprint in the electric mobility sector. In late 2023, the company acquired the rights to the Emily GT project from NEVS, a sporty electric sedan concept featuring four 90-kW wheel motors and a 175-kWh battery claimed to offer more than 1,000 km of range. In 2021, EV Electra also announced a $500 million investment to acquire a majority stake in Detroit Electric.
HiPhi has not officially confirmed the transaction or outlined a detailed production roadmap, and it remains unclear when operations will fully resume. However, the newly reported developments suggest the brand is seeking a renewed presence in both domestic and international EV markets.