NEW YORK,
July 18,
2024 /PRNewswire/ -- SunCar Technology Group Inc.
("SunCar" or "the Company, NASDAQ: SDA), an innovative leader in
cloud-based B2B auto services and auto e-insurance in China, is pleased to announce that it has been
selected as the provider of concierge car services for China
Merchants Bank ("CMB", SSE: 600036, SEHK: 3968) Private
Banking in China. This landmark
two-year service framework agreement represents a significant
milestone in the collaboration between SunCar and CMB.
SunCar holds a commanding market share in providing concierge
transportation services for the private banking departments of
major Chinese banks. This new partnership will see SunCar
delivering comprehensive concierge car services to CMB's elite
private banking clients, leveraging its unparalleled and extensive
industry expertise and service network. The collaboration is
designed to enhance the CMB customer experience through a
sophisticated, technology-driven integration model.
"We are honored to be chosen by China Merchants Bank to provide
concierge car services for their distinguished private banking
clients," said Ye Zaichang, Chairman and CEO of SunCar. "This
partnership underscores our dedication to delivering exceptional,
customer-centric services to leading banking institutions. By
bringing together our technological prowess with CMB's prestigious
private banking services, we are poised to set a new benchmark for
high-quality, efficient client service in the market."
Since its inception, CMB has been at the vanguard of private
banking services in China, earning
numerous prestigious awards from the Financial Times, The Asian
Banker, and International Private Banker. CMB is the first
share-holding commercial bank wholly owned by corporate legal
entities in China. CMB Private
Banking is renowned as the largest and most comprehensive private
bank in China, celebrated for its
innovative and diversified wealth products and its extensive
non-financial value-added services. In 2008, China Merchants Bank
became the first Chinese bank to open a branch in the United States.
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 e-insurance 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.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy, and financial needs, including the
expectation that the Offering will be successfully completed.
Investors can identify these forward-looking statements by words or
phrases such as "may", "will", "expect", "anticipate", "aim",
"estimate", "intend", "plan", "believe", "is/are likely to",
"potential", "continue" or other similar expressions. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the SEC.
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.