SunCar Technology Group Inc. announced on March 10, 2025, it has secured a contract to develop and operate the insurance management platform for Leapmotor (09863.HK), one of China's fastest-growing electric vehicle manufacturers. This system will be integrated into Leapmotor's mobile app ecosystem.
The platform will handle insurance issuance, claims processing, and accident services for Leapmotor's rapidly growing customer base. Leapmotor delivered 293,724 vehicles in 2024, marking over 104% year-over-year growth, with monthly deliveries exceeding 40,000 units in the fourth quarter of 2024.
This contract transforms SunCar's relationship with Leapmotor from a traditional insurance agency service provider to a core technology infrastructure partner. CEO Ye Zaichang stated that by powering Leapmotor's insurance infrastructure, SunCar is positioned to grow alongside a promising EV manufacturer.
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