Owners of new energy vehicles are twice as likely to file a claim
The SU7, Chinese tech giant Xiaomi Corp.'s debut new energy vehicle, retails for 215,900 yuan ($29,735). However, getting it insured costs around the same as for a combustion-engine vehicle more than twice its price. © Reuters
China's rapid adoption of new energy vehicles (NEVs) is posing a problem for many insurers. They are losing money on insuring the vehicles, as strict pricing rules mean they can't raise their premiums to the point of profitability.
This is despite already charging far more to insure NEVs.
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