Bye bye HiPhi

IT’S time to say goodbye to HiPhi, one of the many coming Chinese brands that won’t be coming to Europe any more.

Although the electric car brand – run by Chinese EV maker the Human Horizons Group – had started selling in Norway and Germany, it has now filed for bankruptcy in its native China.

Automotive commentators point to the cut-throat nature of the Chinese auto market and suggest that HiPhi won’t be the first – or last.

It’s not the first casualty we have seen from upstart car makers: US brand Fisker also filed for bankruptcy in June this year despite a good reception for the SUV in the UK.

It’s a warning to fleets and leasing brokers that they need to be careful before going all-in.

“It is difficult to work out which of the new entrants have credibility. HiPhi and Fisker were both producing what looked like convincing new models and seemed to have substantial financing in place, yet the latter is now selling off its remaining stock at a reported 80% discount while parts availability is next to non-existent,” commented Peter Golding, Managing Director, FleetCheck

“Fleets obviously don’t want to find themselves operating vehicles from a manufacturer that fails in this manner and need to tread carefully.”