5.6 Billion Dollar Investment from Chinese EV Manufacturer HiPhi

Human Horizons, which manufactures luxury electric vehicles under the HiPhi brand in China, signed an agreement of $ 5.6 billion with the Ministry of Investment of Saudi Arabia. Accordingly, the Chinese company will cooperate with Saudi Arabia in the activities of developing, producing, and selling electric vehicles.

HiPhi, which will open to the European market this year, has the title of the best-selling luxury car brand in China. It is possible to say that it will soon add Middle East countries to its sales network thanks to its partnership with Saudi Arabia.

The company’s vehicle portfolio includes the $87k HiPhi X with gull-wing rear doors, the futuristically designed sedan HiPhi Z and the European-focused electric SUV HiPhi Y. HiPhi, which manufactures in Shanghai, has become the second luxury electric vehicle manufacturer after Lucid to partner with Saudi Arabia.