China's national financial regulator has issued the first-of-its-kind insurance guidelines for EVs and plug-in hybrids.
According to Reuters, the new guidelines will address the impact on car insurance from the rapid rise of smart driving technologies and the fast iteration of models, as the risk factors of vehicle driving have shifted from more human factors to factors such as technology, software, and cybersecurity.
The guidelines are intended to reduce the maintenance costs of new energy vehicles and explore setting up a risk classification system for insurance models.