Yueda Auto Group Clarifies Chery Has Not Taken Over HiPhi's Yancheng Plant

On April 10, Jiangsu Yueda Automobile Group Co., Ltd. issued a statement clarifying that recent online rumors claiming "Chery Automobile has fully taken over HiPhi's Yancheng plant" are false. The statement emphasized that Yueda Kia's Plant No. 1 was previously used for HiPhi vehicle production through a cooperation agreement with Human Horizons Technology Company, and the ownership of the plant has remained unchanged—it has not been taken over by Chery Automobile.