HiPhi founder takes responsibility for the company's collapse, but takover might save it

A few days ago HiPhi announced that its halting production for the next six months and now the founder, Ding Lei, is taking the responsibility for the company's collapse. Ding Lei spoke to its employees behind closed doors and said his old-fashioned business strategies lead to issues that may be beyond repair.

HiPhi's founder admitted that his outdated business practices are no match for the modern "Internet" companies and the firm has only a three-month window to turn things around. His top priority now is to keep the business afloat while acquisition and potential investments are the only viable options.

Reportedly, HiPhi has already received several offers for and Ding Lei is looking into the options.

Mr. Lei asked his employees for one last push and work together to find a solution to the problem.

Unfortunately, the company's future isn't the only thing wrapped in uncertainty. Current HiPhi vehicle owners are wondering whether they will receive aftermarket service and support. The company was quick to issue a response stating that after-sales services are now HiPhi's top priority and is working on various relief initiatives.

Via