Cenntro Electric Group Attains Document Manufacturing Milestone of 1,623 Electric Commercial Automobiles 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 and also Financial Toughness to Support Growth 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 industrial vehicles, introduced today that it attained a document manufacturing landmark of 1,623 electric industrial lorries (ECV) for 2021 and also experienced its highest possible quantity month of 628 ECV’s produced and shipped in December 2021.

The Firm likewise introduced the introduction of four brand-new automobile designs throughout monetary 2021 as well as has actually gotten positive responses from its European and American network companions and also consumers.

Cenntro’s item portfolio consists of Class 1– Class 4 automobiles in addition to off-road offerings as well as, via its network partner network, it presently disperses lorries in over 26 countries to target consumers, that include business fleets (i.e., energies business), medium and tiny companies (i.e., small handling facilities, ranches, solar farms, hotels, prepared neighborhoods, etc), as well as both state and federal government fleets.

Cenntro has generated and supplied over 3,600 commercial electric lorries because 2017 as well as its scalable, decentralized production version permits it to grow manufacturing without most of the linked framework prices using its property light manufacturing version. The company plans to range production in the very first quarter of 2022, through brand-new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s landmark success shows that Cenntro is swiftly coming to be a considerable player in the electrical industrial lorry market,” claimed Peter Wang, Chairman and President of Cenntro Electric Group “With the merger behind us and money of $250 million, we are well placed to build up our European operating center in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will considerably increase setting up, sales and also after-market service abilities for operations.

“Additionally, the brand-new capital additionally allows Cenntro to broaden our administration group, core U.S. procedures, board of directors and also calculated advisors to support and also handle our fast growth. I am similarly excited concerning our progress already in 2022 based upon the interest we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile distribution and also local solutions.

“Finally, we are going through lots of initiatives consisting of a re-branding of our public products, brand-new business governance, the consultation of strategic consultants and also investor connections to interact with crucial stakeholders and also brand-new investors. We anticipate examining all those initiatives as well as landmarks throughout our conference call in April 2022 reviewing our monetary 2021 financial outcomes,” ended Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with sophisticated, market-validated electrical commercial automobiles. Cenntro plans to lead the change in the automobile industry with scalable, decentralized production and completely digitalized self-governing driving solutions empowered by the Cenntro iChassis. Cenntro has actually created and also delivered over 3,600 commercial EVs in more than 26 nations. For more information regarding the company, please see www.cenntroauto.com.