NEW
YORK, Feb. 20, 2025 /PRNewswire/ -- SunCar
Technology Group Inc. ("SunCar" or the "Company") (NASDAQ: SDA), an
innovative leader in auto e-insurance and cloud-based B2B auto
services in China, today announced
it has secured an RMB 14 million
(US$1.93 million) contract to operate
China Construction Bank's (CCB) car wash program in Hunan province. The two-year agreement runs
through December 2026 and builds on
SunCar's existing CCB partnerships in Fujian and Yunnan provinces.
Under the contract, SunCar will provide exclusive car wash
services to CCB Hunan's Long Card
members through its network of service locations. The program
furthers SunCar's successful implementation in Yunnan province, where the Company has
integrated its digital platform with CCB's banking services to
streamline the customer experience.
This latest win advances SunCar's transformation from a
traditional benefits provider to what it terms an "automotive
ecosystem operator" – combining banking services, digital payments,
and physical car care locations into a unified platform.
"The Hunan contract
demonstrates our ability to scale our banking partnerships
nationwide," said Ye Zaichang, CEO of SunCar Technology. "By
connecting CCB's massive customer base with our service network,
we're creating a new standard for integrated services."
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 contains 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.
