Core Insights - SunCar Technology Group Inc. has secured a RMB 14 million (US$1.93 million) contract with China Construction Bank to operate a car wash program in Hunan province, which will last for two years until December 2026 [1][2] - The contract allows SunCar to provide exclusive car wash services to CCB Hunan's Long Card members, building on its previous successful implementations in Fujian and Yunnan provinces [2][3] - This contract marks a significant step in SunCar's evolution from a traditional benefits provider to an "automotive ecosystem operator," integrating banking services, digital payments, and physical car care locations [3] Company Overview - Founded in 2007, SunCar is a leader in the B2B auto services market and the auto e-insurance market for electric vehicles in China, the largest passenger vehicle market globally [4] - The company operates cloud-based platforms that connect drivers with a variety of auto services and insurance options through a nationwide network of sales partners [4] - SunCar's intelligent cloud platform enables enterprise clients to manage customer databases and offerings effectively, providing drivers access to numerous services from independent providers in a single application [4]
SunCar Secures $1.93M Contract with China Construction Bank Hunan, Expanding National Banking Partnerships