Cenntro Electric Group Attains Document Production Landmark of 1,623 Electric Commercial Cars in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Cash Money, No Debt and also Financial Stamina to Assistance Growth of its European Operating Center in Dusseldorf, Germany and also New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology business with innovative, market-validated electrical commercial vehicles, announced today that it achieved a record manufacturing turning point of 1,623 electric industrial vehicles (ECV) for 2021 as well as experienced its highest quantity month of 628 ECV’s created as well as delivered in December 2021.

The Company likewise revealed the introduction of 4 new vehicle models throughout monetary 2021 as well as has actually gotten beneficial responses from its European and American network companions and also customers.

Cenntro’s item portfolio consists of Course 1– Course 4 cars in addition to off-road offerings and also, via its network companion network, it presently disperses automobiles in over 26 countries to target customers, that include business fleets (i.e., utilities companies), medium and small firms (i.e., small handling facilities, farms, solar ranches, resorts, prepared neighborhoods, etc), as well as both state and also federal government fleets.

Cenntro has actually produced and also supplied over 3,600 industrial electric vehicles because 2017 and its scalable, decentralized production model enables it to grow production without most of the connected facilities costs using its asset light making version. The business plans to range manufacturing in the very first quarter of 2022, with brand-new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is quickly coming to be a considerable gamer in the electric industrial vehicle market,” stated Peter Wang, Chairman as well as Ceo of Cenntro Electric Group “With the merger behind us and cash money of $250 million, we are well placed to accumulate our European operating facility in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will significantly enhance setting up, sales and also after-market solution capabilities for procedures.

“Additionally, the brand-new resources also enables Cenntro to increase our monitoring team, core U.S. procedures, board of directors and calculated advisors to sustain and manage our quick growth. I am equally delighted concerning our progress currently in 2022 based on the interest we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment and local services.

“Finally, we are going through several initiatives consisting of a re-branding of our public materials, brand-new corporate governance, the visit of tactical advisors and also investor connections to communicate with essential stakeholders and also brand-new investors. We look forward to evaluating all those initiatives and landmarks during our teleconference in April 2022 reviewing our financial 2021 monetary outcomes,” concluded Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with innovative, market-validated electric industrial vehicles. Cenntro intends to lead the makeover in the automotive sector via scalable, decentralized production and completely digitalized independent driving options encouraged by the Cenntro iChassis. Cenntro has actually produced and also delivered over 3,600 industrial EVs in greater than 26 nations. For more information concerning the firm, please see www.cenntroauto.com.