China's EV Insurance Registrations Surge as Nio, BYD Lead and Tesla, Li Auto Launch New Models
Last week saw a surge in electric vehicle (EV) insurance registrations in China. Nio's main brand and BYD's vehicles led the pack with record-breaking numbers. Meanwhile, Tesla and Li Auto introduced new models to the market.
Nio's main brand achieved its highest number of insurance registrations in 22 weeks, with 5,200 registrations. This impressive figure represents a 61.92 percent increase from the previous week. Nio's Twitter profile, @Nio, also saw a significant boost, with 11,000 registrations, its highest in four weeks.
BYD's vehicles also made headlines with 92,400 registrations, the highest in 40 weeks. Firefly, a new entrant, recorded its highest-ever insurance registrations with 1,800 last week. Tesla, too, had a strong week with 19,300 registrations, its highest in 13 weeks.
In terms of new launches, Li Auto introduced the Li i8 on July 29 and the Li i6 on September 26. Tesla, on the other hand, launched the six-seat Model Y L in China on August 19. Nio's third-generation ES8, launched on September 20, recorded 2,120 insurance registrations last week. The Onvo sub-brand also saw a spike with 3,800 registrations, its highest in five weeks.
The week of September 22-28 saw a significant increase in EV insurance registrations, with established brands like Nio, BYD, and Tesla leading the charge. New models from Li Auto and Tesla also contributed to the surge in registrations. These figures indicate a growing demand and interest in electric vehicles in China.
