Cheche Group Inc. has entered a new partnership with FAW Bestune Automobile Co., Ltd. and Jilin Dingjia Automotive Business Service Co., Ltd., both subsidiaries of China FAW Group. The deal links Cheche’s embedded insurance platform to China’s official 12123 traffic‑management portal, allowing vehicle owners to purchase new‑car insurance and apply for temporary license plates entirely online.
The integration creates a seamless digital workflow that covers vehicle purchase, insurance issuance, and temporary plate registration. By embedding its services into the 12123 platform, Cheche provides automakers and their customers with a one‑stop experience that eliminates the need for multiple in‑person visits and paperwork. The partnership is currently running in a handful of pilot cities, with plans for nationwide rollout once infrastructure and regulatory conditions are aligned.
Cheche’s recent financial performance underscores the strategic importance of the deal. In the third quarter of 2024, the company reported net revenues of RMB850.5 million and, for the first time, a net income of RMB4.1 million, a turnaround from a loss in the prior year. The company reiterated its full‑year 2024 revenue outlook of RMB3.5 billion to RMB3.7 billion, signaling confidence in continued growth in the new‑energy vehicle insurance market.
CEO Lei Zhang said, “Integrating the 12123 platform into our embedded services for FAW Bestune marks another step forward in our mission to provide automaker partners and their customers with seamless, high‑quality insurance solutions.” The comment highlights Cheche’s focus on expanding its digital footprint and strengthening its position as a backbone for automakers and insurers.
The partnership is a material milestone for Cheche, as it expands the company’s reach in China’s rapidly growing NEV market and positions it to capture a larger share of the digital vehicle‑delivery ecosystem. The deal also signals Cheche’s ability to secure strategic collaborations with major state‑owned automakers, reinforcing its competitive advantage in the insurance‑technology space.
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