NEW YORK, Nov. 06, 2025 — SunCar Technology Group Inc. (the “Company” or “SunCar”) (NASDAQ: SDA), a leading innovator in digital auto insurance and services, is experiencing substantial returns from its investment in the Anji AI Technology Services Center as it strengthens strategic collaborations with XPeng, Tesla, Xiaomi, and other electric vehicle (EV) partners.
To support its customers’ accelerated growth and emphasize customer lifetime value, SunCar has proactively expanded its services to cover the entire vehicle ownership journey. By utilizing dedicated cloud services tailored for its EV partners, SunCar ensures seamless integration of user data and auto insurance service systems. This intelligent cloud platform facilitates the rapid expansion of services, encompassing everything from new car insurance to policy renewals and comprehensive service packages.
In the first nine months of 2025, premiums generated for XPeng through SunCar’s AI intelligent cloud reached $160 million, marking a significant increase of over 200% compared to $50 million in the corresponding period of 2024. For another client, Tesla, the efficacy of SunCar’s AI technology drove premiums from $113 million in the first nine months of 2024 to $328 million in the same period of 2025, a 190% rise. This robust business expansion not only showcases the distinct added value of SunCar’s AI technology but also signifies a strategic evolution of partnerships from singular product integrations to deep engagements across entire vehicle ecosystems.
Leveraging proprietary data such as vehicle age, mileage, and maintenance histories, SunCar is able to recommend the most suitable insurance renewal and auto services package for vehicle owners. Consequently, Tesla’s insurance renewal conversion rate has climbed to 75%, a figure considerably higher than the industry average. This leading conversion rate confirms the enduring appeal and substantial value of SunCar’s integrated auto insurance and auto services model.
To further address the needs of XPeng, Tesla, and other EV customers, SunCar continues to increase its investment in the development of AI-powered services. The Company is advancing its integration with ByteDance’s Doubao Large Language Model (LLM), which is optimizing operational efficiency and user experience in critical areas such as underwriting, claims assessment, and customer support. This effort establishes a technical foundation for subsequent expansion into more intricate service scenarios, including claims processing.
Utilizing its national network of over 48,000 automotive service outlets and thousands of mobility partners, SunCar has established a synergistic “car insurance + service” ecosystem. The scope of services includes multiple high-frequency mobility solutions, such as maintenance, roadside assistance, designated driver services, and airport transfers. This not only boosts user loyalty and satisfaction but also provides car owners with a personalized, all-in-one service experience. These partnerships are expected to broaden further, moving from insurance and fundamental services to wider domains like claims synergy, smart mobility, and data enrichment, consistently spearheading innovative development within the EV vehicle insurance and auto services ecosystems.
About SunCar Technology Group Inc.
Established in 2007, SunCar is revolutionizing the customer journey for auto services and auto insurance in China, the world’s largest passenger vehicle market. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with an extensive array of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has emerged as the leader in China’s auto e-insurance market for electric vehicles and the B2B auto services sector. The Company’s intelligent cloud platform empowers its enterprise customers to access, manage, and optimize their auto e-insurance and auto service offerings. Through SunCar, drivers gain access to a wide variety of high-quality services from tens of thousands of independent providers, all accessible from a single application. For additional information, please visit: .
Forward-Looking Statements
This press release contains information regarding the Company’s future expectations, plans, and prospects, which constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Actual results may vary materially from historical outcomes or those indicated by these forward-looking statements due to a range of factors, including, but not limited to, risks and uncertainties associated with its capacity to secure additional funding, its ability to sustain and expand its business, the variability of operating results, its ability to uphold and enhance its brand, its development and launch of new products and services, the successful integration of acquired companies, technologies, and assets into its portfolio, marketing and other business development initiatives, industry competition, general government regulation, economic conditions, reliance on key personnel, the ability to attract, hire, and retain personnel possessing the technical skills and experience required to meet client demands, and its ability to safeguard its intellectual property. For a comprehensive discussion of these risks, please refer to the Company’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements are relevant only as of the date of this press release, and the Company disclaims any obligation to update or revise these statements, except as mandated by law.
Contact Information:
SunCar:
Investor Relations: Mr. Breaux Walker
Email:
Legal: Ms. Li Chen
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U.S. Investor Relations
Tom Cook
Managing Director
ICR
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