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BYD’s New Auto Insurance Business Earns $2.6 Million in 1st Half of 2024

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. But did you know that BYD, the largest plugin vehicle producer in the world*, also now sells its own car insurance?writes. Removing costs, that led to RMB 18.46 million in net income.The BYD background story is a bit interesting. “The China Banking and Insurance Regulatory Commission approved BYD’s acquisition of 100 percent of E An Property & Casualty Insurance Co Ltd on May 6, 2023.

“BYD Property & Casualty was authorized to conduct insurance business in several regions in May this year, marking the operation of BYD’s insurance business unit is officially on track.”

 

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