NEW YORK,Jan. 8,2025 -- SunCar Technology Group Inc. (NASDAQ: SDA) ("SunCar" or the "Company"),an innovative leader in cloud-based B2B auto services and auto e-insurance in China,is pleased to announce the Company has secured the exclusive Contract (the "Contract") for Walmart (China) Investment Co.,Ltd.'s ("Walmart China")2025 Sam's Club Premium Membership Car Wash Project. Under this agreement,SunCar will deliver premium car wash services for Sam's Club members across 17 cities,including Shanghai,Shenzhen,Guangzhou,Chengdu,Chongqing,Changsha,Hangzhou,Suzhou,and Zhuhai. Walmart China's budget for the Contract is approximately 49 millionRMB (approximately USD 6.8 million),highlights SunCar's exceptional capabilities and leadership in the automotive after-service sector.
The collaboration builds on over a year of partnership between SunCar Technology and Walmart. Walmart's decision to award this exclusive Contract reflects its recognition of SunCar's advanced platform technology,efficient service processes,and consistent delivery of high-quality solutions.
"We are honored to be entrusted by Walmart China to provide premium services to their distinguished Sam's Club members," said YeZaichang,Chairman and CEO of SunCar. "We will focus on delivering a seamless,convenient,and high-quality car wash experience,further enhancing the value of the Sam's Club Premium Membership while strengthening our presence in the automotive after-market services segment. Looking ahead,we will work diligently to expand this collaboration to include additional service categories beyond traditional automotive after-services,catering to evolving customer needs."
About SunCar Technology Group Inc.
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 eInsurance market for electric vehicles. The Company's intelligent cloud 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 may contain 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: [email protected]
Legal: Ms. Li Chen
Email: [email protected]
U.S. Investor Relations
Matthew Abenante,IRC
President
Strategic Investor Relations,LLC
Tel: 347-947-2093
Email: [email protected]
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