Cenntro Electric Group Achieves Document Production Milestone of 1,623 Electric Commercial Cars in 2021

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

Firm Finishes Fiscal 2021 with $250 Million in Cash, No Debt and also Financial Stamina to Support Expansion of its European Operating Center in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV technology company with sophisticated, market-validated electric commercial automobiles, revealed today that it accomplished a document manufacturing milestone of 1,623 electric industrial cars (ECV) for 2021 as well as experienced its highest possible volume month of 628 ECV’s generated and also delivered in December 2021.

The Company likewise announced the intro of four new automobile versions during financial 2021 and also has obtained positive reactions from its European and American network partners as well as customers.

Cenntro’s product portfolio includes Class 1– Course 4 automobiles in addition to off-road offerings as well as, with its network partner network, it currently distributes vehicles in over 26 nations to target consumers, which include company fleets (i.e., energies business), tool and also small firms (i.e., tiny processing centers, farms, solar ranches, hotels, intended communities, and so on), along with both state and federal government fleets.

Cenntro has generated and delivered over 3,600 commercial electric automobiles considering that 2017 and also its scalable, decentralized production design allows it to grow manufacturing without most of the linked framework expenses utilizing its property light producing model. The business intends to range manufacturing in the very first quarter of 2022, through new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s landmark accomplishment demonstrates that Cenntro is rapidly ending up being a substantial gamer in the electrical commercial car market,” said Peter Wang, Chairman and also Ceo of Cenntro Electric Group “With the merging behind us and cash of $250 million, we are well placed to develop our European operating center in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will significantly increase setting up, sales and also after-market service capacities for operations.

“In addition, the brand-new funding likewise allows Cenntro to increase our monitoring group, core united state operations, board of supervisors as well as tactical experts to support and manage our fast growth. I am equally excited concerning our development already in 2022 based upon the passion we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile delivery and also community services.

“Lastly, we are undertaking lots of initiatives consisting of a re-branding of our public materials, new business administration, the appointment of calculated consultants and also investor connections to connect with vital stakeholders as well as new financiers. We expect reviewing all those campaigns and milestones throughout our teleconference in April 2022 reviewing our monetary 2021 financial results,” wrapped up Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with advanced, market-validated electric commercial lorries. Cenntro plans to lead the change in the automobile market via scalable, decentralized production and completely digitalized independent driving remedies encouraged by the Cenntro iChassis. Cenntro has actually created and supplied over 3,600 industrial EVs in greater than 26 countries. For more information regarding the business, please check out www.cenntroauto.com.