HiPhi, Premium Chinese EV Brand, Halts Production for 6 Months
TL;DR Summary
Premium Chinese EV brand HiPhi has announced a six-month production halt, with employees to be paid as usual until February 18 and only basic salaries to be paid after March 15, affecting both current and future models. The company had previously postponed January salaries, canceled year-end awards, and implemented pay cuts. This move comes amid rumors of layoffs and financial difficulties, signaling further challenges in the competitive Chinese EV market.
Topics:business#business-automotive#chinese-ev-market#electric-vehicles#hiphi#layoffs#production-halt
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