Human Horizon enters another market segment as HiPhi Y deliveries begin

It's been a busy weekend in China - first, Denza N7 officially kicked off deliveries, and now it's HiPhi Y.

On July 29, Human Horizons saw the first batch of the HiPhi Y rolled out to their proud new owners in 21 cities across China. Released hot on the heels of its ultra-luxurious predecessors, the HiPhi X and HiPhi Z, the HiPhi Y comes with a more wallet-friendly price tag, making it an enticing proposition for the mainstream market.

How budget-friendly are we talking? Well, it starts at RMB 339,000 (approximately $47,460), comfortably undercutting the initial asking prices of the HiPhi X and HiPhi Z, which stand at RMB 570,000 ($80,000) and RMB 610,000 ($85,000), respectively.

This pricing strategy isn't something new. Nio, a local competitor, implemented a similar game plan. Its first production model, the high-end ES8 SUV, was later complemented by lower-priced models like the ES6. The result? The ES6 quickly snapped up nearly half of Nio's total sales.

HiPhi seems to be reading from Nio's playbook, setting the HiPhi Y against the same market segment as the Nio ES6. However, HiPhi has thrown in a twist. The launch of the ES6 on Nio's NT 2.0 platform prompted some pricing acrobatics. Initially, HiPhi Y's starting price was set at RMB 369,000, a mere RMB 1,000 above the launch price of the new ES6. But when Nio announced price cuts for its new models, HiPhi responded, setting the starting price of the HiPhi Y at RMB 339,000, just a nose ahead of the adjusted ES6 price.

It's not just about the price, though. HiPhi is offering customers choice in terms of power, with both single-motor and dual-motor versions of the HiPhi Y available. And while the dimensions of the HiPhi Y differ slightly from the Nio ES6, both vehicles offer a comparable experience to their prospective buyers.

A week after its launch, HiPhi's brand and communications manager Xu Bin reported that the HiPhi Y had already secured 2,000 firm orders and spurred over 50,000 purchase intentions.

Via