Drives Consumer Spending Over RMB 70 million (US$9.9
million) for ICBC Shaanxi Branch
NEW
YORK, Oct. 15, 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, today
announced its successful development and expansion of its
collaboration with the Shaanxi
Branch of the Industrial and Commercial Bank of China (ICBC) through its "Shaanxi Benefits"
platform (the "Platform"). This partnership extends beyond previous
car-washing projects into a broader, multi-platform cooperation.
Platform positions SunCar as the largest marketing service provider
for ICBC Shaanxi Branch, working closely with the bank's Internet
Finance Department, Credit Card Department, Retail Business
Department, and Private Banking Department.
Since its inception in 2024, the "Shaanxi Benefits" Platform has
achieved remarkable success, with marketing campaigns reaching
nearly 1 million interactions monthly. The average monthly
investment by ICBC in these campaigns exceeds RMB 7 million (US$986,000), driving consumer spending of over
RMB 70 million (US$9.9 million) from ICBC Shaanxi Branch
cardholders.
This partnership leverages ICBC Shaanxi Branch's extensive
experience in customer service and SunCar's strengths in
technological innovation and marketing campaign operations.
Together, they deliver a seamless and enhanced service experience
for cardholders, fostering an intelligent and efficient marketing
service ecosystem.
SunCar distinguished itself in the project bidding with its
technological expertise and marketing operation prowess, becoming
the first to develop and launch the online marketing platform for
"Shaanxi Benefits." The project spans a three-year service period
with a total campaign budget of RMB 180
million (US$25.4 million).
"We are thrilled to partner with ICBC Shaanxi Branch and to
witness the early success of the 'Shaanxi Benefits' Platform," said
Ye Zaichang, Chairman and CEO of SunCar. "This latest banking
sector collaboration leverages our expertise in technology and
marketing to the financial services sector to provide an
unparalleled service experience for ICBC's customers. We are
committed to driving innovation and delivering exceptional value
through this strategic partnership."
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
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.