BYD launches auto insurance service, with revenue reaching 67.26 million yuan

BYD, the world's largest new energy vehicle manufacturer, has started selling auto insurance since May 2024. According to a report released on the website of the China Insurance Association on July 30, BYD's insurance division has achieved revenue of 67.26 million yuan (about 2.4 million U.S. dollars). After deducting costs, net profit reached 18.46 million yuan (about 2.6 million U.S. dollars). In the second quarter, BYD's insurance division had a net profit of 6.04 million yuan (about 8.5 million U.S. dollars).