NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) — SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), a frontrunner in digitalizing auto insurance and automotive services, is realizing strong returns from its investment in the Anji AI Technology Services Center as it strengthens strategic collaborations with XPeng, Tesla, Xiaomi, and other electric vehicle (EV) partners. To support the rapid growth of its clients and emphasize customer lifetime value, SunCar has proactively expanded its offerings to cover the entire vehicle ownership lifecycle. By utilizing dedicated cloud services specifically designed for its EV partners, SunCar achieves seamless integration of user data with auto insurance systems. This intelligent cloud platform allows a swift extension of services from new car insurance to insurance renewals and service packages. In the first nine months of 2025, premiums for XPeng generated through SunCar’s AI intelligent cloud reached $160 million, representing a substantial increase of over 200% compared to $50 million during the same period in 2024. For Tesla, SunCar’s AI technology drove premium growth from $113 million in the first nine months of 2024 to $328 million in the same timeframe in 2025, an increase of 190%.
This robust business growth highlights not only the distinctive value of SunCar’s AI technology but also signifies a strategic shift from single product integration to deep integration across entire vehicle ecosystems. Leveraging proprietary data such as vehicle age, mileage, and maintenance history, SunCar recommends optimal insurance renewal plus auto service packages tailored for vehicle owners. Consequently, Tesla’s insurance renewal conversion rate has risen to 75%, considerably surpassing the industry average. This leading conversion rate underscores the strong customer retention and significant value generated by SunCar’s integrated auto insurance and services model. To better meet the needs of XPeng, Tesla, and other EV clients, SunCar is increasing its investments in AI-driven service development. The Company continues to deepen integration with ByteDance’s Doubao Large Language Model (LLM), which enhances operational efficiency and user experience in key areas like underwriting, claims evaluation, and customer service. This technological foundation supports future growth into more complex service scenarios, including claims processing.
SunCar Technology Drives Massive Growth in EV Auto Insurance with Advanced AI Integration
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