News Release Details

NEW YORK, June 17, 2024 /PRNewswire/ -- SunCar Technology Group Inc. ("SunCar" NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce a new strategic collaboration with Ping An Property & Casualty Insurance Co., Ltd. (Shenzhen Branch) ("Ping An P&C Shenzhen"), a subsidiary of Ping An Insurance Group Co. of China Ltd ("Ping An", 2318.HK), one of the five largest insurance companies in the world and a long term enterprise client of SunCar's. This partnership aims to enhance the airport pickup services provided to Ping An's high-value clients, reflecting SunCar and Ping An's continued commitment to excellence and customer satisfaction.

Under this new agreement, Ping An P&C Shenzhen becomes the seventh branch of Ping An to partner with SunCar for this premium service, joining the ranks of Guangdong, Fujian, Ningbo, Shanghai, Beijing, and Shanxi branches. This agreement with SunCar supports Ping An's commitment to offering premium value-added services to its clients, fostering long-lasting relationships.

SunCar has a proven track record with Ping An, having provided auto services to multiple branches of Ping An for years. This expansion includes airport pickup services and highlights the exceptional quality of SunCar's offerings. SunCar expects more Ping An branches to utilize more of SunCar's services in the near future.

Ye Zaichang, CEO and Chairman of SunCar, remarked, "We are excited to expand our collaboration with Ping An in offering our premium airport pickup services. This partnership reaffirms our dedication to delivering outstanding service and ensuring a seamless travel experience for Ping An's high-net-worth clients. We look forward to expanding our services further and continuing to set new standards in customer satisfaction."

This announcement follows several other significant partnerships for SunCar, including collaborations with China Construction Bank, Agricultural Bank of China, China CITIC Bank, and most recently, Ant Fortune. These partnerships underscore SunCar's dedication to leveraging advanced technology to provide top-tier automotive services and intelligent insurance solutions.

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.

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.