Cenntro Electric Group Accomplishes Record Manufacturing Turning Point of 1,623 Electric Commercial Autos in 2021

628 ECV’s Produced in December 2021 Represents Highest Volume in a Solitary Month

Firm Finishes Fiscal 2021 with $250 Million in Cash Money, No Debt as well as Financial Stamina to Support Expansion of its European Operating Facility in Dusseldorf, Germany as well as New Setting Up Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV technology firm with advanced, market-validated electrical industrial cars, introduced today that it achieved a record manufacturing turning point of 1,623 electrical industrial automobiles (ECV) for 2021 and also experienced its highest quantity month of 628 ECV’s created as well as delivered in December 2021.

The Business likewise introduced the introduction of 4 brand-new car designs during fiscal 2021 and has received desirable reactions from its European as well as American channel companions and consumers.

Cenntro’s item profile includes Course 1– Course 4 lorries along with off-road offerings and also, via its channel companion network, it currently distributes automobiles in over 26 countries to target consumers, that include business fleets (i.e., energies companies), tool as well as tiny business (i.e., tiny processing facilities, farms, solar farms, resorts, planned areas, and so on), in addition to both state and federal government fleets.

Cenntro has actually created as well as provided over 3,600 business electrical cars given that 2017 and also its scalable, decentralized production design allows it to expand manufacturing without much of the linked framework costs using its asset light making model. The firm plans to scale manufacturing in the very first quarter of 2022, with brand-new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point accomplishment shows that Cenntro is swiftly coming to be a considerable gamer in the electrical commercial car market,” said Peter Wang, Chairman and also President of Cenntro Electric Group “With the merger behind us as well as money of $250 million, we are well placed to accumulate our European operating center in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially boost setting up, sales as well as after-market service capabilities for procedures.

“Furthermore, the brand-new resources likewise enables Cenntro to broaden our monitoring team, core U.S. operations, board of directors and critical advisors to sustain and also handle our quick growth. I am just as thrilled about our progression already in 2022 based on the passion we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery as well as metropolitan services.

“Lastly, we are going through many efforts consisting of a re-branding of our public products, new business administration, the consultation of calculated experts as well as investor relations to communicate with essential stakeholders and also new financiers. We look forward to evaluating all those initiatives as well as turning points throughout our conference call in April 2022 discussing our monetary 2021 monetary results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with sophisticated, market-validated electric commercial automobiles. Cenntro intends to lead the improvement in the vehicle market via scalable, decentralized production as well as completely digitalized independent driving options encouraged by the Cenntro iChassis. Cenntro has created and provided over 3,600 industrial EVs in greater than 26 nations. For more details about the firm, please go to www.cenntroauto.com.

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