Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 89

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4
Chunk 89
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 carbon neutrality and emission peak, EV manufacturers, both emerging players as well as traditional auto manufacturers,
are quickly upscaling in China. With this, as well as the rising development of EV infrastructures, EVs have become increasingly mainstream
and popular among Chinese consumers. We believe that as the EVs go down in cost and improve in performance with advancing technology,
market demand is expected to grow further.

As our business is closely
connected to the auto industry, we have embraced the recent trends of electric and smart vehicles. We are now working with 20 mainstream
EV and smart car panel players (out of a total of approximately 200 EV OEMs in China, for a total market volume of over 10 million units
of EV annual sales in China), embedding our auto service solutions into their online applications and panels, and providing insurance
products to EV owners.

Engaging mainstream EV
OEMs. We actively engage with mainstream EV OEMs which help us acquire both business as well as data from their end customers. As
of December 31, 2024, we have engaged with Tesla Motors, Lotus Technology, Li Auto, XPeng, Leapmotor, Ford, and more for dedicated EV
insurance business. Moreover, we have engaged with NIO, XPENG, Voyah Auto, Great Wall Motor and Geely Auto, and more to offer diverse
auto solutions.

Solving the pain points
of EV OEMs. The emerging EV OEMs and EV brands of traditional automotive companies usually adopt a direct sales strategy, resulting
in an insufficient service network in terms of both service depth and geographic coverage. We believe this makes us an ideal partner to
help them empower their offline service systems. We work together with our EV OEM clients offering various services via our auto service
providers throughout the EV life cycle. Moreover, EV OEMs face demands from their customers for a wide range of insurance products, allowing
us to engage with clients using our broad lineup of online insurance products.

Joining the digital trend. The EV OEMs usually reach, manage and serve their customers from digital interfaces such as vehicle owner APPs or smart car panels.
We work closely with EV OEMs and smart car panel manufacturers to connect our systems which we have optimized and re-designed to ensure
friendly user experience and a fully digitalized service offering. We believe that such direct connection also allows us to reach end
customers earlier, which can help enhance our consumer recognition and brand loyalty.

New types of services. The electric vehicle usually adopts different power systems and