Human Horizons is a Chinese electric automaker that builds electric vehicles under the HiPhi brand. The company signed a $5.6 billion agreement with Saudi Arabia’s Ministry of Investment to collaborate on manufacturing and selling vehicles. That $5.6 billion deal represents over half of the more than $10 billion in investments announced on the first day of an Arab–China business conference in Riyadh. Saudi Arabia is seeking to diversify partnerships beyond energy and is especially interested in developing a domestic electric vehicle manufacturing sector. Human Horizons said earlier this year it would launch its premium HiPhi brand in certain European markets this year. The Saudi government reported Chinese foreign direct investment into Arab markets was $23 billion in 2021, of which $3.5 billion was in Saudi Arabia.

Total raised

$5.6B

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2023