Tesla owners saw insurance premiums soar in China after the authorities implemented commercial insurance rules for new energy vehicles at the end of last year. The exclusive insurance terms took effect on Dec. 27, 2021. Tesla told Jwview, a state-run financial media on Dec. 30, 2021, that Tesla vehicle’s insurance premiums increased by about 10 percent on average and that for high-performance models they rose about 20 percent based on the statistics of the day. However, according to a comparison made by a netizen on Weibo, China’s Twitter, the cost of insurance for the Tesla Model Y rose to 14,900 Yuan (about $2,340) per year after the new insurance regulations were applied, up 80 percent from 8,278 Yuan ($1,300) per year on Dec. 23 (before the effective date.) As a response, Tesla said the specific amount would be different subject to the local insurance quotations. China’s new energy vehicles were …