NEW
YORK, Jan. 16, 2025 /PRNewswire/ -- SunCar
Technology Group Inc. (NASDAQ: SDA) ("SunCar" or the "Company"), an
innovative leader in cloud-based B2B auto services and auto
e-insurance in China, is pleased
to announce the Company has officially joined the
China Auto Dealers Chamber of Commerce (CADCC) as one of its 40
"vice-chairman" members. This milestone solidifies SunCar's
influence in the automotive industry and sets the stage for
strategic growth in both the New Energy Vehicle (NEV) and
traditional fuel vehicle markets.
With over 3 billion fuel vehicles in circulation in China, the traditional automotive market
remains a significant sector of opportunity. By joining CADCC,
SunCar not only strengthens its position in the rapidly growing NEV
space but also expands into the extensive network of fuel vehicle
dealerships. This dual focus enables the company to cover the
entire spectrum of the automotive market, catering to diverse
consumer needs while driving innovation and collaboration within
the industry.
Founded in 2006, the China Automobile Dealers Chamber of
Commerce (CADCC) is a national-level organization under the
All-China Federation of Industry and Commerce, representing over
2,000 members, including nearly 8,000 4S dealerships. CADCC serves
as a key bridge between dealers, manufacturers, and consumers,
promoting innovation, sustainable growth, and industry
collaboration while offering services such as policy advocacy,
training, and international exchanges. As a vice-chairman member,
SunCar joins an exclusive group of enterprises recognized for their
exceptional contributions and leadership in the automotive
circulation field.
"This partnership is a major step in our strategic development,"
Ye Zaichang, Chairman and CEO of SunCar, stated at the press
conference. "It reflects our commitment to bridging the fuel
vehicle and NEV markets, fostering collaboration with industry
leaders, and meeting the evolving demands of consumers. We aim to
leverage this opportunity to drive sustainable growth and
innovation while enhancing the overall competitiveness of the
industry."
Membership in CADCC provides SunCar with a valuable platform for
engaging in industry exchanges, policy discussions, and market
initiatives. The company plans to collaborate with other members to
share resources and develop tailored solutions for both NEVs and
fuel vehicles. By addressing the unique characteristics of each
market segment, SunCar seeks to create synergies that benefit the
broader automotive industry.
About SunCar Technology Group Inc.
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 intelligent cloud 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.
Forward-Looking Statements
This press release may contain information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may differ
materially from historical results or those indicated by these
forward-looking statements as a result of a variety of factors
including, but not limited to, risks and uncertainties associated
with its ability to raise additional funding, its ability to
maintain and grow its business, variability of operating results,
its ability to maintain and enhance its brand, its development and
introduction of new products and services, the successful
integration of acquired companies, technologies and assets into its
portfolio of products and services, marketing and other business
development initiatives, competition in the industry, general
government regulation, economic conditions, dependence on key
personnel, the ability to attract, hire and retain personnel who
possess the technical skills and experience necessary to meet the
requirements of its clients, and its ability to protect its
intellectual property. The Company encourages you to review other
factors that may affect its future results in the Company's annual
reports and in its other filings with the Securities and Exchange
Commission.
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.
