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You can buy an EV in China. But can you afford to insure it?

Sep 23, 2024
China's electric vehicle market is booming, with half of the world's EVs on its roads due to attractive government incentives. However, this surge has led to unexpected challenges, especially in insurance costs. The ride-hailing market is seeing 87% new EVs in 2023, raising repair complexities for insurers. Innovative solutions like usage-based insurance are emerging, leveraging vehicle data to personalize pricing. The collaboration between automakers and tech firms is shaping the future of insurance in this rapidly evolving sector.
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