China’s auto insurance provider Cheche Group said on Monday it has expanded its partnership with electric vehicle maker Nio to cover all three of the company’s brands: Nio, Onvo and Firefly.
Cheche described the move as “a new phase in its partnership,” aimed at delivering “refined insurance services across Nio’s multi-brand portfolio.”
The firm provides policy issuance, intelligent risk control and claims management.
The companies first deepened ties in mid-2024, when Cheche announced it was digitalizing the process of completing auto insurance for Nio, reducing front-end delivery costs and enabling the automaker to manage its insurance business digitally.
In Monday’s statement, Cheche highlighted that Nio’s “multi-brand strategy is gaining scale and momentum,” citing production targets of 15,000 units each for the Onvo L90 in October and the third-generation ES8 in December.
The EV maker founded and led by William Li said last week it aims to deliver 150,000 vehicles this year across the three brands.
“As Nio’s delivery volume continues to scale, we see a clear opportunity to support the growing demand for insurance solutions tailored to new energy vehicles,” Cheche founder and CEO Lei Zhang said.
“This momentum is expected to translate into meaningful growth for Cheche, with deeper synergies between our teams becoming increasingly evident in the fourth quarter,” he added.
The announcement follows a similar move by SunCar less than two weeks earlier.
SunCar, a Shanghai-based cloud insurance service provider that has worked with Nio since 2020, said it was expanding coverage to the company’s two newest three-row SUVs — the Onvo L90 and the third-generation ES8.
SunCar upgraded its Anji Cloud Service Center late last year to offer Nio owners more customized coverage. It also provides AI- and data-driven insurance solutions for Tesla, XPeng, Xiaomi, Leapmotor and other Chinese automakers.
