EV potential fires and insurance rates

  • In general, the insurance premium for new energy cars — which includes electric — is about 20% higher than it would be for a comparable traditional fuel-powered car, said Wenwen Chen, director at S&P Global Ratings, who leads the firm’s research for China insurance.
  • For all of 2021, a Chinese government ministry reported at least 3,000 new energy vehicle fires. It said the risk of fire was generally higher for such cars than that for traditional vehicles, without disclosing specific figures. — CNBC