Marks Expansion to Traditional
Vehicle Dealerships
NEW
YORK, Aug. 20, 2024 /PRNewswire/ -- SunCar
Technology Group Inc. ("SunCar"; NASDAQ: SDA), an innovative leader
in cloud-based B2B auto services and auto e-insurance in
China, today announced a two-year
agreement between its wholly-owned subsidiary, Shengshi Dalian
Insurance Agency Co., Ltd., and SAIC Maxus Automotive Sales &
Service Co., Ltd. ("SAIC Maxus"). This collaboration aims to
enhance the management of auto e-insurance services across SAIC
Maxus's extensive network of dealerships across China, making a new era for SunCar as it
expands beyond its extensive partnerships with new energy vehicle
manufacturers to include traditional vehicle dealerships.
SAIC Maxus, a wholly-owned subsidiary of SAIC Maxus Automotive
Co., Ltd, is one of China's
leading commercial vehicle manufacturers. As a key division of SAIC
Motor, SAIC Maxus specializes in the research, development,
manufacturing, and sales of a wide range of commercial vehicles,
including light commercial vehicles, mid-sized buses, and electric
vehicles. With a strong focus on innovation and quality, the
Company is dedicated to driving the future of the commercial
vehicle industry. With over 100 direct sales dealerships across
China, SAIC Maxus will adopt
SunCar's subsidiary's online platform, which signifies a bold step
towards modernizing its e-insurance processes and offering new and
enhanced services to its customers. The first-year service fee of
this collaboration is estimated to reach 100
million RMB (approximately US$14
million.)
Ye Zaichang, Chairman and CEO of SunCar Technology Group
commented, "We are excited to collaborate with SAIC Maxus, a
leading name in the automotive sector. Our Company has long been
committed to expanding our collaboration with traditional fuel
vehicle dealerships. The full-scale implementation of our insurance
technology services in this partnership represents a significant
step forward in digitizing insurance services and enhancing the
overall customer experience. We are confident that our innovative
solutions will deliver value to SAIC Maxus and its customers,
setting new standards in the industry. As this partnership evolves,
we expect it to establish a new business model and set a precedent
for future collaborations, building on our comprehensive engagement
with new energy vehicle companies, OEMs, and dealerships,
thereby unlocking substantial opportunities for revenue
growth."
About SunCar Technology Group Inc.
Originally founded in 2007, SunCar is transforming the customer
journey for auto services and auto insurance in China, the largest passenger vehicle market in
the world. SunCar develops and operates cloud-based platforms that
seamlessly connect drivers with a wide range of auto services and
insurance coverage options through a nationwide network of sales
partners. As a result, SunCar has established itself as the leader
in China in the B2B auto services
market and the auto eInsurance market for electric vehicles. The
Company's multi-tenant, cloud-based platform empowers its
enterprise clients to access and manage their customer database and
offerings optimally, and drivers gain access to hundreds of
services from tens of thousands of independent providers in a
single application. For more information, please visit
https://suncartech.com.
Contact Information:
SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
U.S. Investor Relations
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE SunCar Technology Group Inc.