Yes it does come separately without Tegra 4.
i500 is sold discretely, or inside Tegra 4i. Tegra 4 has no free i500 that comes with it.
-Brian
ZTE just announced that it would be building a Tegra 4 based smartphone for the China market in the first half of 2013. Given NVIDIA's recent statements about Tegra 4 shipping to customers in Q2, I would expect that this is going to be very close to the middle of the year. ZTE didn't release any specs other than to say that it's building a Tegra 4 phone.
Separately, ZTE and NVIDIA are also working on another phone that uses NVIDIA's i500 LTE baseband.
The baseband comes with Tegra 4 so they are building 2 Tegra 4 phones then.