BYD Insurance Brokerage Co., Ltd. has announced its dissolution and has applied for the cancellation of its registration, citing a lack of business activity. Importantly, this decision will not affect the operations of BYD Property Insurance Co., Ltd. Notably, since its inception, BYD Insurance Brokerage has not secured an insurance intermediary license. However, BYD has successfully acquired Yian Property Insurance and renamed it BYD Property Insurance Co., Ltd., which holds a valid insurance license encompassing various services, including auto insurance. BYD Chairman Wang Chuanfu aims to leverage technology and the company's user base to revolutionize the new energy vehicle insurance industry. As the new energy vehicle market continues to expand, other automakers such as Tesla, NIO, and XPeng have also forayed into the auto insurance sector, indicating a promising future for the new energy vehicle insurance market.