Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 139

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 139
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 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 body structure, which has created new types of auto services. We are
now working closely with both OEMs and our service providers to offer specific services for EV owners such as battery maintenance and
battery change.

Competition

The automobile auto eInsurance
market and the integrated auto service market in China are fragmented and competitive. We compete with online and offline insurance intermediaries
and insurance companies to sell insurance products. We also compete with other integrated auto service providers that offer similar services
as our auto services. As competition in China’s integrated auto service market intensifies, we believe that we are well positioned
to take advantage of opportunities in this growing industry due to our leading position in the market, our validated technologies, our
customer