New Energy Vehicle Insurance: “Accidental Injury”
On May 7, 2025, at 10:41, the news report on the New Wave Financial APP highlighted that in the past two years, the sales volume of new energy vehicles in China has seen a remarkable increase. The market has shown a high degree of competition, with a diverse range of products available, leading to a significant number of buyers. However, after-sales service for new energy vehicles remains an issue, with many facing challenges regarding insurance coverage.
According to data, by 2025, the new energy vehicle insurance segment is expected to reach 320,000 units, with projections of 980,000 units by 2028. Starting in 2025, new energy vehicles will experience a peak in sales. Currently, the market environment for new energy vehicles indicates that there are still many unresolved issues related to software, batteries, and technology in the post-sale service sector.
In the insurance market, the cost of insuring new energy vehicles has significantly diverged from traditional vehicles, leading to concerns about the standardized quality control of insurance products. Data shows that by 2025, the segment of new energy vehicles under insurance will largely depend on standardized quality control measures. Moreover, the insurance premium for new energy vehicles is expected to exceed that of traditional vehicles due to the rigorous standards required.
As of now, the maintenance goals for new energy vehicles have been set within the repair service industry. From 2020 to 2023, the proportion of companies providing battery maintenance services has increased from 0.2% to 1.3%, supported by over 1,000 service providers.
In summary, it is crucial to address the challenges faced by new energy vehicle insurance and maintenance services in the market. Continuous improvements and developments in these areas are necessary for the sustained growth of the new energy vehicle industry.
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