Cheche Group Inc. announced it has entered into a partnership with NIO Insurance Broker Co. Ltd. ("NIO Insurance Broker"), a subsidiary of NIO INC. as Cheche continues to deepen its collaborations with new energy vehicle ("NEV") manufacturers. Cheche's accessible digital platform, powered by technology, will digitalize the process of completing auto insurance for NIO, while reducing front-end insurance delivery costs and enabling NIO to digitally manage its insurance business.

This customized digital insurance service system for NIO is expected to launch in the next quarter. Cheche empowers NEV manufacturers to deepen their relationship with consumers by offering comprehensive insurance solutions that, over time, can include customized pricing based on driver behavior, comprehensive claims management and repairs, and fraud prevention by leveraging the rich data generated by the auto's sensors and Cheche's AI and data analysis tools.