Hongqi E-HS9 gets a starting price of below PHP 5 million due to Executive Order 12
Yesterday, Hongqi PH distributor EvoxTerra officially previewed its pure electric luxury SUV called the E-HS9. Serving as its flagship offering, the all-electric three-row SUV combines zero emissions, generous amenities, and a stylish European-inspired design.
The automaker announced that the E-HS9 will start at PHP 4.980 million for the “Executive” variant. Compared to other fully-electric luxury SUVs like the BMW iX, Jaguar I-Pace, and Audi e-tron 55, Hongqi was able to undercut the more established brands while still offering plenty of in-car features and opulent luxury
But how did Hongqi able to actually give it a starting price of just below PHP 5 million? Well, that's actually due to Executive Order 12 which was signed earlier this year by President Ferdinand “Bong Bong” Marcos Jr. Stipulations of the EO cuts import duties on EVs and removes the tariff on the importation of charging/distribution parts of electric cars, and other related production equipment.
So how much was Hongqi able to remove from the original suggested retail price of the E-HS9? Speaking with Bob Shaw, vice president and general manager at EvoxTerra, he said that they were able to slash around PHP 2 million from its initial price.
“When we showed the E-HS9 during the 10th Philippine EV Summit, we were looking at selling it for around PHP 7 million. With the E.O. 12, we were able to price it lower at PHP 4.980 million,” said Shaw.
Since they were able to drop its SRP by around PHP 2 million, we also asked Shaw just how many units are they planning to sell per month. Shaw, however, said that they don't have estimated sales projection numbers yet since they have yet to officially launch it to the public. The executive did say that they want to sell as many as they can.
Aside from the Executive version, the model range of the E-HS9 will also include the “Deluxe” and the aptly-named “Flagship”. Pricing for the two variants has yet to be revealed as EvoxTerra is still making final checks before its public debut later this year.