10:00 AM EDT, 07/23/2024 (MT Newswires) -- SunCar Technology ( SDA ) is partnering with Lotus Technology ( LOT ) by building on its vehicle e-insurance technology platform and its extensive automotive service network to support and optimize Lotus' market expansion in China.

As part of the new partnership, SunCar ( SDA ) will provide Lotus customers with a wide range of insurance options, including vehicle insurance and comprehensive coverage services, helping build consumer trust for the Lotus brand.

SunCar ( SDA ) also will assist Lotus to promote its vehicles in various parts of China, enhancing brand visibility and competitiveness. Financial terms of the collaboration agreement were not immediately disclosed.

SunCar ( SDA ) shares recently were rising 2.3% while Lotus Technology ( LOT ) was climbing over 2% in early Tuesday trading.

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