Cheche Group Announces Strategic Partnership with Dongfeng Motor Group's Insurance Provider

BEIJING, Aug. 15, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it has entered into a partnership with Wuhan Dongfeng Insurance Broker Co., Ltd. ("Dongfeng Insurance"), as Cheche further diversifies its partner network with leaders in the new energy vehicle ("NEV") industry.

Dongfeng Insurance handles the insurance business for all brands affiliated with Dongfeng Motor Group Company Limited ("Dongfeng Motor Group"), an automotive company with a 49.5% ownership stake in Dongfeng Insurance. One of the "Big Four" state-owned car manufacturers in China, Dongfeng Motor Group develops and brings brands to market like Fengdu, Aeolus, Forthing, VOYAH, M Hero, and NAMMI, while also marketing foreign-branded vehicles, such as Dongfeng Honda, Dongfeng Nissan and Dongfeng Peugeot-Citroën, through joint ventures.

Cheche's initial brand launch is with VOYAH, a luxury NEV brand in the Dongfeng Motor Group that recently engaged Cheche to provide national licensing and other comprehensive insurance services across China, including more than 900 VOYAH delivery stores.

"The Dongfeng Insurance partnership is another celebrated milestone for Cheche that further establishes our position as the leading intelligent insurance platform for NEVs in China," said Lei Zhang, Founder, CEO, and Chairman of Cheche. "The strategic partnership designates Cheche as an approved provider for Dongfeng Motor Group's NEV brands, creating significant opportunities nationwide as China's NEV adoption rate remains strong.

"Looking ahead, we will leverage our technology and vast suite of services to strengthen the relationship with Dongfeng Insurance and seek to provide digital insurance solutions for additional Dongfeng Motor Group's brands as Cheche continues to prioritize business opportunities with both NEV and traditional auto manufacturers."

The strategic partnership with Dongfeng Insurance enables Cheche to administer comprehensive insurance services and create value for our partners.

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About Cheche Group Inc.

Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en.

Cheche Group Inc.:
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Crocker Coulson
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(646) 652-7185

SOURCE Cheche Group Inc.