Chinese electric vehicle maker Human Horizons Group Inc., the company behind the premium HiPhi brand, has filed for pre-bankruptcy restructuring — becoming another victim of China’s cutthroat auto market, Bloomberg News reported. The manufacturer lodged an application to a People’s Court in Yancheng, the eastern Chinese city where its factory is located, saying its assets could no longer cover debt as of April and fulfilled the conditions for a bankruptcy, according to a court document published Thursday.
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