SunCar Technology Group Inc. Secures Exclusive Vehicle Service Contract with China Construction Bank

Core Insights - SunCar Technology Group Inc. has secured a two-year exclusive vehicle service contract with the Fujian Branch of China Construction Bank, expected to generate approximately RMB 25 million (USD 3.5 million) in cumulative revenue [1][2] Group 1: Contract Details - The contract positions SunCar as the exclusive provider of vehicle services for China Construction Bank's Fujian Branch, highlighting the company's trusted reputation in the automotive after-sales service industry [2] - SunCar operates an extensive network of 460 car wash locations across Fujian, enabling it to provide high-quality car wash services to tens of thousands of customers [2] Group 2: Strategic Expansion - The company aims to expand its service offerings to additional banks and regions, having already established or renewed agreements with several major banks, including China Minsheng Banking Corp., Bank of Communications, China CITIC Bank, and Agricultural Bank of China over the past year [2] Group 3: Company Overview - Founded in 2007, SunCar is a leader in digitalized automotive after-sales services and online auto insurance intermediation in China, the largest passenger vehicle market globally [4] - The company operates a multi-tenant, cloud-based platform that connects drivers with a variety of automotive services and insurance options, enhancing customer experience and service management [4]