NEW
YORK, July 23, 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 a strategic partnership (the "Partnership") with
Lotus Technology ("Lotus," NASDAQ: LOT) to enhance automotive
industry services. This collaboration will leverage SunCar's auto
e-insurance technology platform and its extensive automotive
service network to support and optimize Lotus's market expansion,
offering Lotus owners comprehensive one-stop automotive
services.
As China's leading auto
e-insurance technology platform, SunCar will utilize its cost
advantages in the insurance industry and nationwide agency network
to provide Lotus customers with a wide range of insurance options,
including vehicle insurance and comprehensive coverage services.
This Partnership offers Lotus customers more convenient and
efficient insurance solutions and strengthens consumer trust and
preference for the Lotus brand.
SunCar will also provide automotive services through its vast
nationwide network and assist Lotus in promoting its vehicles
across various regions, enhancing the brand's visibility and
competitiveness. These services include leveraging extensive
vehicle data and big data analytics to help Lotus better understand
regional consumer demands, predict market trends, and optimize
marketing strategies.
"SunCar Technology is thrilled to partner with Lotus Technology
to bring enhanced services to Lotus owners across China," said Ye Zaichang, Chairman and CEO of
SunCar. "This Partnership represents a significant step forward in
our mission to provide comprehensive and personalized automotive
services. By combining our strengths, we aim to deliver superior
value and convenience to our customers."
In the highly competitive automotive market, car brands and
service providers actively seek cooperative strategies to serve
Chinese car owners better. This Partnership results from mutual
effort and support, aiming to offer consumers more choices and
superior service experiences.
About Lotus Technology Inc.
Lotus Technology Inc. has operations across the UK, the EU and
China. The Company is dedicated to
delivering luxury lifestyle battery electric vehicles, with a focus
on world-class R&D in next-generation automobility technologies
such as electrification, digitalisation and more. For more
information about Lotus Technology Inc., please visit
www.group-lotus.com.
The brand of Lotus car was founded in 1948 in Hethel,
Norfolk, England. As a renowned
name in the automotive industry, Lotus is celebrated worldwide for
its exceptional craftsmanship and technological innovation. The
company's founder, Colin Chapman,
set new standards in the automotive industry with his relentless
pursuit of lightweight design and superior handling
performance.
Lotus products are widely acclaimed for their outstanding
performance and driving experience. From classic race cars to
high-performance street cars, every Lotus model showcases advanced
engineering and manufacturing excellence. Beyond car manufacturing,
Lotus plays a significant role in automotive engineering, technical
consulting, and motorsport, offering countless opportunities for
driving enthusiasts and professional drivers to push the limits of
performance.
As a historically rich automotive brand dedicated to innovation,
Lotus continually advances automotive technology, striving to
provide customers with high-performance, high-quality vehicles and
services. By closely collaborating with partners and suppliers
worldwide, Lotus maintains its leadership in the automotive
industry and consistently drives the development and application of
future automotive technologies.
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.