HiPhi's only model currently on sale, the HiPhi X, has a starting price of RMB 570,000 ($90,000).

China's homegrown premium electric vehicle (EV) brand HiPhi sold 550 units of HiPhi X, its only model currently on sale, in January, down 40 percent from 919 units in December, according to data released today by the company.

HiPhi, a brand owned by Chinese electric vehicle company Human Horizons, launched HiPhi X in October 2020, with deliveries of the model starting in May 2021.

The company did not announce sales for May and June last year, and previous figures showed it had accumulated sales of 3,724 units from July to December.

On January 19, HiPhi announced that it saw the 5,000th production vehicle of the HiPhi X roll off the production line.

During the year-end sales season, HiPhi overcame difficulties including tight chip supply, the Covid-19 outbreak in some regions, and material shortages to guarantee high-quality production, it said at the time.

The HiPhi X starts at RMB 570,000 ($90,000) for the six-seat version and up to RMB 800,000 for the four-seat version.

(Image credit: HiPhi)

Late last month, Bloomberg said Human Horizons was considering an initial public offering in Hong Kong as soon as this year, citing people familiar with the matter.

The company was working with UBS and Morgan Stanley on a potential IPO that could raise about $300 million to $500 million, the report said.

The automaker initially planned to go public in the US but has shifted the listing to Hong Kong, the report said, adding that deliberations are still ongoing and details such as the amount and timeline of the fundraising could change.

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