Explosive growth in electric vehicle sales means that insurance companies now have much more solid data to help them set premiums. Despite having more driver assistance systems, electric vehicles have higher claim frequency, and are also more expensive to repair. What is the future of EV insurance?
German heavyweight Volkswagen Group, which owns multiple brands, will invest $5 billion in a new joint venture with U.S.-based EV startup Rivian. Future Volkswagen Group products will leverage Rivian’s excellent EV software, and the two companies will co-develop future EV tech.
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