Business
SunCar Joins China Auto Dealers Chamber of Commerce as Vice-Chairman Member, Expanding Market Potential
NEW YORK, Jan. 16, 2025 /PRNewswire/ -- SunCar Technology Group Inc. (NASDAQ: SDA) ("SunCar" or the "Company"), an innovative leader in cloud-based B2B auto
About this update from Suncar Technology Group Inc.
[{"type":"text","content":"NEW YORK, Jan. 16, 2025 /PRNewswire/ -- SunCar Technology Group Inc. (NASDAQ: SDA) (\"SunCar\" or the \"Company\"), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, is pleased to announce the Company has officially joined the China Auto Dealers Chamber of Commerce (CADCC) as one of its 40 \"vice-chairman\" members. This milestone solidifies SunCar's influence in the automotive industry and sets the stage for strategic growth in both the New Energy Vehicle (NEV) and traditional fuel vehicle markets.\n\nWith over 3 billion fuel vehicles in circulation in China, the traditional automotive market remains a significant sector of opportunity. By joining CADCC, SunCar not only strengthens its position in the rapidly growing NEV space but also expands into the extensive network of fuel vehicle dealerships. This dual focus enables the company to cover the entire spectrum of the automotive market, catering to diverse consumer needs while driving innovation and collaboration within the industry.\nFounded in 2006, the China Automobile Dealers Chamber of Commerce (CADCC) is a national-level organization under the All-China Federation of Industry and Commerce, representing over 2,000 members, including nearly 8,000 4S dealerships. CADCC serves as a key bridge between dealers, manufacturers, and consumers, promoting innovation, sustainable growth, and industry collaboration while offering services such as policy advocacy, training, and international exchanges. As a vice-chairman member, SunCar joins an exclusive group of enterprises recognized for their exceptional contributions and leadership in the automotive circulation field.\n\"This partnership is a major step in our strategic development,\" Ye Zaichang, Chairman and CEO of SunCar, stated at the press conference. \"It reflects our commitment to bridging the fuel vehicle and NEV markets, fostering collaboration with industry leaders, and meeting the evolving demands of consumers. We aim to leverage this opportunity to drive sustainable growth and innovation while enhancing the overall competitiveness of the industry.\"\nMembership in CADCC provides SunCar with a valuable platform for engaging in industry exchanges, policy discussions, and market initiatives. The company plans to collaborate with other members to share resources and develop tailored solut...