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SunCar's Partnership with Xiaomi Enters a New Phase to Support its YU7 Launch, Promoting Fully Intelligent Auto Insurance

1. SunCar partners with Xiaomi for intelligent vehicle insurance. 2. Xiaomi's YU7 electric SUV launches in April 2024. 3. SunCar expects business with Xiaomi to double by 2025. 4. SunCar leads China’s auto eInsurance market for electric vehicles. 5. AI and big data enhance SunCar's insurance solutions.

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FAQ

Why Bullish?

The partnership with Xiaomi suggests significant business growth potential, similar to past partnerships that strengthened market positions, impacting stock positively.

How important is it?

The article highlights strategic partnerships and projected growth, crucial for SDA investors focusing on long-term value.

Why Long Term?

With the business expected to double by 2025, long-term growth is anticipated, reflecting historical patterns of company expansions boosting stock prices over time.

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XiaomiTSLANIO
, /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based, software-focused B2B auto eInsurance and auto services in China, today announced the continued progression of the Xiaomi partnership. With the official launch of Xiaomi Auto's first pure electric SUV, the Xiaomi YU7 in April 2024, the two parties have been engaged in the field of intelligent vehicle insurance, creating a fully intelligent and digitized auto insurance service system for Xiaomi. As this partnership enters its next phase, SunCar expects their business with Xiaomi to double in 2025. As China's leading cloud-based auto insurance service provider, SunCar Technology has leveraged its artificial intelligence (AI) and big data analysis technologies to tailor an intelligent vehicle insurance solution specifically for Xiaomi Auto. 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 auto eInsurance market for electric vehicles and the B2B auto services market. The Company's intelligent cloud platform empowers its enterprise customers to access, manage, and optimize their auto eInsurance 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 from a single application. For more information, please visit: https://suncartech.com.  Contact Information:SunCar:Investor Relations: Ms. Hui JiangEmail: [email protected]U.S. Investor RelationsTom CookManaging DirectorICREmail: [email protected]  SOURCE SunCar Technology Group Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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