SunCar Technology Group Inc. has launched its online insurance solution for customers of Li Auto Inc.’s new energy vehicles (NEV). Through the Li Auto car owners’ app, SunCar provides various online insurance options, allowing car owners to easily compare and purchase auto insurance and other services. SunCar’s Chairman and CEO, Mr. YE Zaichang, expressed excitement about the partnership with Li Auto, one of China’s largest NEV manufacturers. With Li Auto’s growing market presence and high number of car deliveries, SunCar sees a significant opportunity for its insurance products to become the default choice for Li Auto customers.
SunCar has already achieved the largest market share for after-sales services in the NEV industry, thanks to its extensive service supplier network. China’s car ownership market is the largest in the world and is experiencing consistent growth. SunCar believes that expanding its auto insurance offerings will not only boost its business but also create synergies with its existing online automotive services. The regular renewal of auto insurance policies will generate recurring revenue stream and increased user engagement with SunCar’s online services.
Li Auto Inc. is a leader in China’s new energy vehicle market, specializing in the design, development, manufacturing, and sale of premium smart electric vehicles. The company’s current lineup includes flagship family SUV models such as Li L9, Li L8, and Li L7. Li Auto aims to provide families with safe, convenient, and comfortable electric vehicles while continuously innovating in product, technology, and business models. By successfully commercializing extended-range electric vehicles in China, the company has established a strong position in the market.
