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

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

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

NASDAQ: CENN, a leading EV modern technology business with innovative, market-validated electric commercial vehicles, announced today that it attained a document manufacturing milestone of 1,623 electric industrial automobiles (ECV) for 2021 as well as experienced its greatest volume month of 628 ECV’s generated as well as shipped in December 2021.

The Company additionally introduced the intro of 4 new lorry versions throughout fiscal 2021 and has received beneficial reactions from its European and American network companions and also consumers.

Cenntro’s item profile consists of Course 1– Course 4 lorries in addition to off-road offerings as well as, via its network partner network, it presently disperses cars in over 26 nations to target clients, that include business fleets (i.e., utilities firms), medium and also tiny firms (i.e., tiny handling centers, ranches, solar ranches, resorts, intended areas, etc), along with both state as well as federal government fleets.

Cenntro has actually created as well as supplied over 3,600 business electric automobiles because 2017 and its scalable, decentralized manufacturing version enables it to expand manufacturing without most of the linked facilities prices using its property light making version. The business plans to range production in the very first quarter of 2022, via brand-new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone accomplishment shows that Cenntro is quickly becoming a significant gamer in the electrical business lorry market,” said Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merging behind us and also cash of $250 million, we are well positioned to accumulate our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will considerably increase setting up, sales and after-market solution capabilities for operations.

“In addition, the brand-new resources likewise enables Cenntro to expand our management team, core united state operations, board of directors and also strategic experts to support and manage our quick development. I am similarly thrilled regarding our progression already in 2022 based on the passion we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment as well as municipal solutions.

“Finally, we are going through numerous initiatives including a re-branding of our public products, brand-new business governance, the appointment of calculated advisors and financier relations to communicate with vital stakeholders and also brand-new investors. We expect examining all those efforts as well as landmarks throughout our conference call in April 2022 reviewing our monetary 2021 financial results,” concluded Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with advanced, market-validated electric industrial vehicles. Cenntro prepares to lead the change in the auto sector via scalable, decentralized manufacturing and completely digitalized autonomous driving options empowered by the Cenntro iChassis. Cenntro has actually created as well as delivered over 3,600 commercial EVs in more than 26 nations. For more details about the company, please browse through www.cenntroauto.com.