Lisa Cook sues Trump over firing attempt, emergency hearing set
Investing.com -- SunCar Technology Group Inc (NASDAQ:SDA) stock surged 9.8% in Wednesday’s premarket after the company announced an expanded strategic partnership with Chinese electric vehicle manufacturer NIO Inc (NYSE:NIO).
The cloud-based auto insurance and services provider revealed it has entered a new phase of cooperation with NIO, building upon their existing relationship that began in 2020. SunCar upgraded its Anji Cloud Service Center in late 2023 to offer more detailed and customized auto insurance services to NIO vehicle owners.
The partnership expansion comes as NIO continues strong sales of its ES8 and ONVO L90 models, which feature advanced intelligent driving capabilities, ultra-fast charging, and luxury tech features. SunCar will leverage its artificial intelligence and big data analytics to develop customized smart auto insurance solutions specifically for NIO customers.
SunCar positions itself as China’s leading cloud-based auto insurance service provider, focusing on B2B software solutions in the automotive sector. The company’s technology platform aims to create tailored insurance products that align with the advanced features of NIO’s electric vehicles.
The deepened collaboration represents SunCar’s continued efforts to expand its footprint in China’s growing electric vehicle market by partnering with one of the country’s prominent EV manufacturers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.