Company: PTHL
Filing Date: 2025-09-02
Form Type: 6-K
Source: 0001213900-25-083382
Chunk: 0

Company: Pheton Holdings Ltd
Filing Date: 2025-09-02
Form: 6-K
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2025

Commission File Number: 001-42263

Pheton Holdings Ltd

Room 306, NET Building,

Hong Jun Ying South Road, Chaoyang District,

Beijing, China

(Address of principal executive office)</div>

Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:

<div align='center'>Form 20-F ☒
Form 40-F ☐</div>

Information Contained in this Form 6-K Report

Entry into an Advisory Services Agreement.

On August 28, 2025, Pheton Holdings Ltd (the “Company”)
entered into an Advisory Services Agreement (the “Agreement”) with Comane International Group Ltd, a company organized under
the laws of the British Virgin Islands (“Consultant”) and controlled by a third-party. Pursuant to the Agreement, the Company
engaged Consultant to provide advisory services to the Company with respect to mergers and acquisitions strategies and general corporate
development matters, including but not limited to conducting market research, evaluating and implementing capital restructuring plans,
advising on transaction structuring, valuation analysis and due diligence support, facilitating communications with relevant government
agencies to obtain necessary approvals, and coordinating with other professional parties.

The term of the Agreement is five (5) years. As consideration for such
services, the Company agreed to issue to Consultant warrants (the “Warrants”) to purchase up to 4,000,000 Class A ordinary
shares of the Company, with an exercise price of US$0.80 per share and an expiration date of five (5) years from the date of issuance.
The Warrants are not exercisable until six (6) months after the date of the Agreement and may only be exercised upon the written consent
of the Company’s Chief Executive Officer, who will determine in good faith, after consultation with the Board of Directors if deemed
necessary, whether the Consultant has satisfactorily performed its advisory services under the Agreement.

Either party may terminate the Agreement upon not less than thirty
(30) days’ prior written notice. In