Cheche Group Providing Insurance Services for Xpeng EVs in Ten Cities

BEIJING,Oct. 2,2023 -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"),China's leading auto insurance technology platform,today announced its growing partnership with Xpeng,Inc. (NYSE: XPEV) ("Xpeng"),a leading Chinese smart electric vehicle ("EV") company,as Cheche continues to broaden its partner network with leaders in the EV industry.

Since Xpeng began the rollout of its latest SUV,the G6,in July,it has seen robust sales growth with August's G6 deliveries exceeding 7,000 units (an approximately 80% month-over-month increase from July). In total,Xpeng delivered 13,690 smart EVs in August,an approximately 43% year-over-year increase from August 2022.

As Xpeng's insurance services provider in ten cities,Cheche offers a sophisticated insurance service platform that includes SaaS systems,API management of insurers,digital operations,value-added product innovations and a nationwide service network. The EV owners can access a broad range of digital insurance options that include new policies,one-click renewals,and other value-added services. Underscoring the success of this relationship,Xpeng recognized Cheche with the Innovation Award for Better User Experience for its comprehensive,convenient,and premium services.

"The simplicity and convenience afforded to EV owners through our manufacturer collaborations enable seamless consumer access to a wide range of insurance products and services that is establishing baseline expectations within the industry," said Lei Zhang,Founder,CEO and Chairman of Cheche. "The brand recognition and underlying growth opportunities in this channel are substantial,and we look forward to capitalizing on our ongoing relationship with Xpeng."

The deep,strategic partnership has established a new growth model for Xpeng and integrated opportunities for Cheche's digital insurance services. It has also demonstrated the potential for future digital insurance services and laid the groundwork for ongoing innovation and geographical expansion.

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 110 branches licensed to distribute insurance policies across 24 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.

Forward-Looking Statements

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Cheche Group Inc.:

IR@chechegroup.com

Crocker Coulson

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(646) 652-7185