Xiaomi Auto (小米汽车) launches "official car insurance" with Faba Tianxing Insurance (法巴天星保险) — cheaper prices and more services

Overview

Xiaomi Auto (小米汽车) has reportedly rolled out an "official car insurance" product under a new insurer, Faba Tianxing Insurance (法巴天星保险), with user-shared screenshots circulating online showing lower prices and expanded services compared with existing providers. It has been reported that the offer surfaced on social channels and was first picked up by Chinese site IT Home. Is Xiaomi trying to control more of the vehicle ownership experience — and undercut traditional insurers at the same time?

What the policy includes

According to the screenshots, the Faba Tianxing plan bundles eight road-rescue calls, one inspection-delivery service and one vehicle safety check as part of the package. It has been reported that prices on the screenshots are cheaper than comparable quotes from other insurers, though those pricing claims remain unverified and screenshots can be incomplete or promotional in nature.

Ownership, regulation and geopolitical context

Faba Tianxing Insurance is a product of Beijing Faba Tianxing Property Insurance Co., whose establishment was approved by the National Administration of Financial Regulation (国家金融监管总局) on November 5, 2024. Shareholders named in the approval include a French Paris insurance group (法国巴黎保险集团), Sichuan Yinmi Technology Co., Ltd. (四川银米科技有限责任公司) — a Xiaomi Group affiliate — and Volkswagen Financial Services Overseas (大众汽车金融服务海外股份公司). Public corporate records trace Sichuan Yinmi's ownership back to Xiaomi's 2015 acquisition and note management changes (Lei Jun served as legal representative until 2022, succeeded by Xiaomi CFO Lin Shiwei).

The move fits a broader pattern: Chinese tech firms are pushing into finance and after-sales services for connected cars, often in partnership with foreign insurers or automaker finance arms. That cooperation occurs against a backdrop of tighter financial regulation in China and ongoing geopolitical scrutiny of cross-border financial ties, which could shape how foreign participants operate in the market.

What to watch

For consumers, an OEM-backed insurer could mean lower prices and more convenience — if the product is widely rolled out and actuarial terms are sound. For competitors, Xiaomi's ecosystem and customer data could exert pricing pressure. However, it has been reported that the current evidence is based on screenshots; independent verification and an official product rollout announcement will be necessary to judge the offer's scope and sustainability.