November 2020 update of top 5 Chinese EV startups’ insurance registrations
Monika From Gasgoo
| December 30 , 2020
Shanghai (Gasgoo)- In November, consumers in China bought the Mandatory Liability Insurance for Traffic Accidents of Motor Vehicles (MLI) for 176,718 homegrown new energy passenger vehicles (NEPVs), representing a year-on-year hike of 180.22%, according to the China Insurance Regulatory Commission (CIRC).
For the first eleven months, China s NEPV insurance registrations jumped 16.28% from a year ago to 901,908 units.
Among the NEPVs registered last month, 21,015 units were from Chinese EV startups, a splendid growth of 224.21% compared to the year-ago period.
The six startups whose Nov. registrations exceeded 10,000 units were NIO, Li Auto, Xpeng Motors, WM Motor, Leapmotor and HOZON Auto. Their registrations totaled 20,006 units last month, while still outnumbered by those of the Model 3, whose insurance volume stood at 21,572 units.