/C O R R E C T I O N -- SunCar Technology Group Inc./

Rhea-AI Summary

SunCar Technology Group (NASDAQ: SDA) announced the advancement of its partnership with Xiaomi, focusing on intelligent auto insurance solutions for Xiaomi's first pure electric SUV, the YU7. The collaboration, which began in April 2024, aims to develop a fully-intelligent and digitized auto insurance service system specifically for Xiaomi Auto.

As China's leading cloud-based auto insurance service provider, SunCar is leveraging its AI and big data analysis technologies to create tailored vehicle insurance solutions. The company projects its business with Xiaomi to double in 2025 following the official launch of the Xiaomi YU7.

Positive

• Partnership with major tech company Xiaomi strengthens market position
• Expected doubling of Xiaomi-related business in 2025
• Leveraging AI and big data for specialized insurance solutions

Negative

• None.

In the news release, SunCar's Partnership with Xiaomi Enters a New Phase to Support its YU7 Launch, Promoting Fully Intelligent Auto Insurance, issued 30-Jun-2025 by SunCar Technology Group Inc. over PR Newswire, we are advised by the company that the second paragraph should read "The companies have been partnering since April 2024 to develop intelligent vehicle insurance and create a fully-intelligent and digitized auto insurance service system for Xiaomi. With the official launch of Xiaomi Auto's first pure electric SUV, the Xiaomi YU7, this partnership enters its next phase. SunCar expects its business with Xiaomi to double in 2025." as originally issued inadvertently. The complete, corrected release follows:

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

NEW YORK, June 30, 2025 /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.

The companies have been partnering since April 2024 to develop intelligent vehicle insurance and create a fully-intelligent and digitized auto insurance service system for Xiaomi. With the official launch of Xiaomi Auto's first pure electric SUV, the Xiaomi YU7, this partnership enters its next phase. SunCar expects its 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 Jiang
Email: IR@suncartech.com
U.S. Investor Relations
Tom Cook
Managing Director
ICR
Email: Tom.Cook@icrinc.com 

View original content:https://www.prnewswire.com/news-releases/suncars-partnership-with-xiaomi-enters-a-new-phase-to-support-its-yu7-launch-promoting-fully-intelligent-auto-insurance-302494004.html

SOURCE SunCar Technology Group Inc.

FAQ

What is the partnership between SunCar Technology (NASDAQ: SDA) and Xiaomi?

SunCar Technology is partnering with Xiaomi to develop intelligent vehicle insurance and create a fully-intelligent digitized auto insurance service system for Xiaomi Auto, specifically supporting their YU7 electric SUV launch.

When did SunCar Technology (SDA) begin its partnership with Xiaomi?

The partnership between SunCar Technology and Xiaomi began in April 2024 to develop intelligent vehicle insurance solutions.

How much growth does SunCar (SDA) expect from its Xiaomi partnership in 2025?

SunCar Technology expects its business with Xiaomi to double in 2025 following the launch of the Xiaomi YU7 electric SUV.

What technologies does SunCar (NASDAQ: SDA) use for its auto insurance solutions?

SunCar Technology leverages artificial intelligence (AI) and big data analysis technologies to create tailored intelligent vehicle insurance solutions.