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NEW YORK - SunCar Technology Group Inc. (NASDAQ:STGC) has entered a new phase of cooperation with Chinese electric vehicle maker Leapmotor (HK:9863), a prominent player in the automotive sector with a market capitalization of $11.6 billion, according to a company press release.
The expanded partnership comes as Leapmotor reported record monthly sales of 57,066 vehicles in August, representing an 88% year-on-year increase. This growth aligns with the company’s impressive 140.5% revenue surge over the last twelve months. InvestingPro data shows Leapmotor’s stock has delivered a remarkable 168.6% return over the past year.
SunCar, which has operated Leapmotor’s insurance platform since February 2025, provides AI-powered auto insurance solutions customized for Leapmotor customers. The company’s platform handles policy purchases and claim settlements for the automaker.
"Since the inception of our cooperation, we have remained focused on Leapmotor’s business needs," said Zaichang Ye, Chairman and CEO of SunCar. "With the recent increase in Leapmotor’s sales, we have quickly allocated resources from multiple departments to support their growth."
SunCar’s platform digitizes policy purchases and expedites claim settlements to match Leapmotor’s growth scale. The company stated it will continue supporting Leapmotor’s global expansion efforts by providing insurance features and customization capabilities.
Founded in 2007, SunCar develops cloud-based platforms connecting drivers with auto services and insurance coverage options through a network of sales partners in China. According to InvestingPro, Leapmotor maintains a GOOD financial health score, with 8 additional key insights available to subscribers, including detailed profitability and growth metrics that could help investors better understand this rapidly expanding partnership.
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