An anonymous investor from the United States is reportedly considering putting one billion USD into the floundering Human Horizons startup in China to keep it afloat and to resume the production of HiPhi EVs. With that said, CarNewsChina admits that the prospects of the deal are looking cloudy right now.
The Chinese publication claims that it received a communication from Human Horizons that mentions an agreement struck with a company named iAuto. Among other things, it envisions first-round financing in the amount of U.S. $1,000,000,000. The two companies agree to join forces in electric vehicle R&D, mutual brand integration and supply chain optimization. They also undertake to participate in joint marketing campaigns and other shared activities.
The suspicious part is that iAuto is being touted as a “North American business”, but the communication the news agency received was written exclusively in Chinese. Moreover, there is virtually no data available on this alleged investor. It is being touted as a “team of hi-tech investment experts” specializing in eco-friendly power solutions, but the details are non-existent. Considering the above, CarNewsChina is skeptical about the actual financing capabilities of iAuto.