🟢The electric vehicle venture #HiPhi, which Saudi Arabia announced a $5.6 billion investment in last year, has halted production at its factory in Shanghai. New orders from stores are also on hold.

🚗The company introduced its first car, the HiPhi X, to customers in May 2021 and started sales in countries such as the UK and Norway last year. However, HiPhi, whose sales in China declined after 2022, had delivered an average of 500-600 vehicles in the last months of 2023.

🤔According to internal messages in the Chinese media, the factory will be closed for 6 months.