On March 28, 2024, CheCheChe Technology (NASDAQ stock code: CCG) announced in a filing with the SEC that it had reached a partnership with Xiaomi's thick accumulation insurance broker to expand cooperation with companies in the new energy vehicle industry. Car Technology will provide car insurance service solutions for car owners in multiple cities across the country, such as Beijing, Shenzhen, and Hangzhou. In the future, these car owners will be able to efficiently complete insurance transactions and obtain related services through the Xiaomi Auto App. As of the end of 2023, Cheche Technology has established cooperative relationships with more than 10 leading new energy vehicle companies in China, such as Xiaopeng Motors, Ideal Automobile, Changan Avita, Baidu Jiyue, etc., providing embedded insurance solution services.
With its significant advantages in digital insurance trading systems, full process operation capabilities, and national service outlets, Cheche Technology has become a partner of Xiaomi's automotive insurance services. Through the leading digital automotive insurance trading SaaS service platform, Cheche Technology has been providing convenient and efficient insurance services to Xiaomi car owners since April 1st, while also adding differentiated competitive advantages to Xiaomi in the fiercely competitive new energy vehicle market.
Zhang Lei, founder and CEO of Car Technology, said, "With the advent of the era of new energy intelligent vehicles, the car insurance industry chain is undergoing reshaping and transformation. In the direct sales model, users can directly communicate with car companies by booking vehicles online. Insurance has become an important tool for car companies to connect users and bring new profit growth points. Our embedded insurance SaaS service platform will provide car owners with a smooth insurance service experience, and also help our partners innovate and expand in the field of after-sales service."