Human Horizons, the parent company of luxury EV brand HiPhi, has entered the pre-reorganization phase after filing for bankruptcy, marking a critical moment in China’s new energy vehicle (NEV) sector. The company, struggling financially, halted production nearly six months ago.
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The Yancheng Economic and Technological Development Zone People’s Court accepted the pre-reorganization application on August 8, 2024. The court’s decision, which cited Human Horizons’ inability to cover its debts exceeding its assets as of April 30, 2024, acknowledged the company’s insolvency but noted its potential for restructuring.
During the six-month pre-reorganization period, which can be extended by three months if…
