Cenntro Electric Group Achieves Document Manufacturing Landmark of 1,623 Electric Commercial Vehicles in 2021

628 ECV’s Generated in December 2021 Represents Highest Quantity in a Single Month

Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Debt as well as Financial Stamina to Assistance Development of its European Operating Center in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV modern technology firm with sophisticated, market-validated electrical commercial lorries, introduced today that it achieved a document manufacturing landmark of 1,623 electric commercial cars (ECV) for 2021 as well as experienced its highest quantity month of 628 ECV’s generated as well as shipped in December 2021.

The Company also revealed the introduction of 4 brand-new lorry models throughout financial 2021 and also has actually received desirable reactions from its European and also American channel companions and consumers.

Cenntro’s product portfolio consists of Course 1– Course 4 automobiles in addition to off-road offerings and also, with its channel companion network, it presently distributes automobiles in over 26 countries to target customers, which include company fleets (i.e., energies firms), tool as well as small companies (i.e., little handling facilities, farms, solar farms, resorts, prepared neighborhoods, and so on), as well as both state and federal government fleets.

Cenntro has generated and supplied over 3,600 commercial electric automobiles because 2017 as well as its scalable, decentralized manufacturing version permits it to grow production without most of the linked infrastructure expenses utilizing its asset light manufacturing design. The firm prepares to scale manufacturing in the very first quarter of 2022, with new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone accomplishment shows that Cenntro is quickly coming to be a substantial gamer in the electric commercial lorry market,” claimed Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merging behind us and money of $250 million, we are well placed to accumulate our European operating facility in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will significantly raise assembly, sales as well as after-market service abilities for procedures.

“Furthermore, the brand-new funding likewise permits Cenntro to broaden our management team, core U.S. operations, board of directors as well as tactical experts to sustain as well as manage our rapid development. I am equally delighted about our development already in 2022 based on the rate of interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery and community solutions.

“Lastly, we are going through many campaigns consisting of a re-branding of our public products, new corporate administration, the visit of strategic consultants and capitalist relationships to communicate with essential stakeholders as well as brand-new capitalists. We look forward to examining all those initiatives as well as milestones throughout our teleconference in April 2022 discussing our fiscal 2021 monetary outcomes,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology business with innovative, market-validated electrical business vehicles. Cenntro prepares to lead the improvement in the automobile industry through scalable, decentralized production as well as completely digitalized self-governing driving services empowered by the Cenntro iChassis. Cenntro has actually created and provided over 3,600 industrial EVs in greater than 26 nations. For additional information regarding the business, please visit www.cenntroauto.com.