Chinese NEV Insurance Platform Insures 114,000 Units

MT Newswires Live

2025/02/27

A Chinese insurance platform for new energy vehicles saw 114,000 units insured, Xinhua News Agency reported Wednesday, citing the Insurance Association of China and the Shanghai Insurance Exchange.

The platform has 185,000 registered users with a coverage of about 94.49 billion yuan, the report said.

NEV owners have faced difficulty in getting their units insured due to high premiums and the risk of being denied, the report said.

The number of NEVs in China reached 31.4 million as of the end of 2024, the report said, citing the Ministry of Public Security.

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