HiPhi Auto plans new models and strengthens cooperation with FAW Group

HiPhi plans to launch a new model based on HiPhi Y after resuming production, which will improve configuration and reduce price. At the same time, the negotiation between HiPhi and FAW Group is progressing smoothly. FAW Group has started due diligence on HiPhi in early April to understand its financial status, legal relationship and risk factors before acquisition. FAW Group recognizes HiPhi's high-end positioning.