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Auto


NIO’S INSURANCE BROKERAGE COMPANY CLOSED

Mar 15, 2023, 17:45pm2023/03/15 17:46:15 Pandaily
Add to Favorites Added to Favorites

NIO’s insurance brokerage company, established in January 2022, recently
initiated a simple cancellation. The registered capital of the company is 50
million yuan ($7.25 million).

According to regulations, if a national insurance brokerage institution applies
for operation, it shall be accepted and given a preliminary examination by local
banking insurance regulatory commissions. However, NIO‘s insurance subsidiary
has not been approved by the regulator.

In fact, since the China Banking and Insurance Regulatory Commission approved
China Southern Airlines Insurance Brokerage Co., Ltd. on July 11, 2018, it has
never approved any other insurance brokerage company. Media outlet Beijing
Business Today reported that in 2022, local regulators had canceled or planned
to cancel 1,870 insurance intermediaries.

Jiemian News quoted Song Zhanjun, deputy secretary-general of the Insurance
Research Center of Beijing Technology and Business University, as saying that in
recent years, insurance supervision has become standardized, raising
requirements for the information system construction of the insurance
intermediary industry.

Some insiders pointed out that after 2018, the China Banking and Insurance
Regulatory Commission has not issued any new intermediary licenses, but a large
number of insurance intermediary licenses have been transferred, which may be
the future development trend. “At present, there are more than 2,000 insurance
intermediary companies in China, but most of them are not operating in an ideal
state, and more than 700 of them garner an annual income of less than 1 million
yuan. Previously, regulators issued a notice to encourage insurance
intermediaries to carry out equity swaps.”

On October 21, 2022, NIO established Anhui NIO Data Technology Co., Ltd. with a
registered capital of 100 million yuan. On December 12, the company acquired
Huiding Insurance Brokerage Co., Ltd. and obtained its insurance intermediary
license.

In addition to NIO, at the beginning of this year, BYD’s acquisition of 1An.com,
an insurance company, caused heated discussion. Prior to this, BYD Insurance
Brokerage Co was approved to be established in March last year.

SEE ALSO: BYD Acquires an Internet Insurance Company for $530M

It has become a typical move for car companies, especially electric vehicle
enterprises, to get involved in the insurance industry. iResearch Consulting
Group pointed out that auto insurance, as the first product that consumers come
into contact with after buying a car, can be used as an entrance to serve car
owners because of its just-needed attributes. Car companies can take auto
insurance as the starting point to develop a higher profit, after-car ecological
system.

With more regulations and technologies such as big data, artificial
intelligence, cloud computing and blockchain, the insurance intermediary market
is facing several new opportunities.

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Tags BYD | electric vehicle | Insurance | NIO∗



WHOLESALE VOLUME OF NEW ENERGY PASSENGER CARS IN CHINA INCREASES BY 141.4% YOY
IN JUNE

On July 8, the China Passenger Car Association released its analysis of the
national passenger vehicle market in June this year. The data shows that retail
sales of passenger vehicles reached 1.943 million units in June, up 22.6%
year-on-year.

Auto Jul 08July 8, 2022
Pandaily


CHINA’S NEW ENERGY VEHICLE MARKET SEES STRONG REBOUND AMID ROBUST CAR INCENTIVES

China’s marketplace for new energy vehicles posted a strong rebound in June,
industry data showed, leading an auto sector turnaround as cash subsidies and
tax cuts, part of a wider push for economic stabilization, helped incentivize
consumers.

Auto Jul 13July 13, 2022
Xiao Xin


BYD’S JULY NEW ENERGY VEHICLE SALES UP $222% YOY

Chinese electric vehicle firm BYD disclosed its July production and sales report
on August 3. The company produced 163,358 new energy vehicles in July, a
year-on-year increase of 221.70%.

Auto Aug 04August 4, 2022
Pandaily


BYD’S Q3 VEHICLE SALES SURPASS TESLA

Chinese automaker BYD outsold Tesla by nearly 200,000 vehicles globally in the
third quarter of 2022, according to the latest data released by the two
companies.

Auto Oct 07October 7, 2022
Pandaily













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ਸਾਨੂੰ ਇਹ ਵੀ ਪੰਜਾਬੀ ਭਾਸ਼ਾ ਨੂੰ ਸਹਿਯੋਗ ਹੈ, ਤੁਹਾਨੂੰ ਇਸ ਨੂੰ ਕਰਨ ਲਈ ਤਬਦੀਲੀ ਚਾਹੁੰਦੇ ਹੋ?

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ငါတို့သည်လည်း, မြန်မာဘာသာစကားကိုထောကျပံ့သငျသညျကအပြောင်းအလဲလိုသလဲ

Yes(ဟုတ်ကဲ့) No(အဘယ်သူမျှမ)

We also support Nepali language, do you want change to it?

हामी पनि नेपाली भाषा समर्थन, तपाईं यसलाई परिवर्तन गर्न चाहनुहुन्छ?

Yes(ह) No(कुनै)

We also support Tagalog language, do you want change to it?

Sinusuportahan din namin ang Tagalog wika, ang gusto mong pagbabago dito?

Yes(oo) No(hindi)

We also support Malay language, do you want change to it?

Kami juga menyokong bahasa Melayu, adakah anda mahu perubahan kepadanya?

Yes(yes) No(tidak)

We also support Indonesian language, do you want change to it?

Kami juga mendukung bahasa Indonesia, apakah Anda ingin perubahan untuk itu?

Yes(Iya) No(tidak)

We also support Thai language, do you want change to it?

นอกจากนี้เรายังสนับสนุนภาษาไทย, คุณต้องการที่เปลี่ยนแปลงไปได้หรือไม่

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