SunCar Technology Group Inc. signed a three year designated driving services contract with CITIC
12 September 2023 - 10:30PM
SunCar Technology Group Inc. (“SunCar” or the “Company”) (Nasdaq:
SDA), a leading provider of digitalized enterprise automotive
after-sales services and online auto insurance intermediation
service in China, announced that it has signed its three-year
designated driving service agreement with China CITIC Bank
(“CITIC”), China's seventh-largest lender in terms of total assets,
and a nationally comprehensive and internationally oriented
commercial bank. CITIC operates over 160 branches in mainland China
as well as branches in Hong Kong, Macau, New York, Los Angeles,
Singapore and London.
SunCar’s designated driving service is a popular
service with its elite institutional customers such as CITIC. These
customers offer SunCar’s service as part of their loyalty programs
with their end customers. For them SunCar is the top choice for
value-added services during business travel at home and abroad.
SunCar has built a comprehensive digitalized internal control
system to guarantee the quality of service it provides.
About SunCar Technology Group
Inc.
Originally founded in 2007, SunCar is
transforming the customer journey for car insurance and aftermarket
services in China, the largest passenger vehicle market in the
world. SunCar develops and operates online platforms that
seamlessly connect drivers with a wide range of automotive services
and insurance coverage options from a nationwide network of
provider partners. As a result, SunCar has established itself as
the leader in China in the B2B automotive after-sales services
market and the online insurance market for electric vehicles. The
company’s multi-tenant, cloud-based platform empowers its
enterprise clients to optimally access and manage their customer
database and offerings, and drivers gain access to hundreds of
services from tens of thousands of independent providers in a
single application.
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's 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
SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
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