HiPhi, the luxury brand of Chinese electric car maker Human Horizons, has announced a six-month suspension and layoffs amid a capital crunch. Previously, Human Horizons established a $5.6 billion project with the Saudi Ministry of Investment to conduct automotive research, development, production and sales in the Middle Eastern country. However, the Saudi Ministry of Investment appears to have withdrawn from its investment after due diligence revealed a decline in the company’s sales volume
HiPhi is facing a capital crunch after MISA’s rumored withdrawal of investment
