Cenntro Electric Group Attains Record Manufacturing Landmark of 1,623 Electric Commercial Cars in 2021

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

Company Finishes Fiscal 2021 with $250 Million in Money, No Financial Obligation and also Financial Toughness to Assistance Expansion of its European Operating Center in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology business with advanced, market-validated electrical industrial cars, introduced today that it attained a document manufacturing landmark of 1,623 electrical business vehicles (ECV) for 2021 and experienced its highest volume month of 628 ECV’s produced as well as shipped in December 2021.

The Company additionally introduced the intro of 4 brand-new lorry designs during financial 2021 and also has received favorable responses from its European as well as American network companions and also clients.

Cenntro’s product portfolio includes Course 1– Class 4 vehicles along with off-road offerings as well as, via its network partner network, it currently distributes lorries in over 26 countries to target customers, which include company fleets (i.e., utilities companies), tool and tiny firms (i.e., little processing centers, farms, solar ranches, hotels, prepared areas, and so on), as well as both state and federal government fleets.

Cenntro has created and supplied over 3,600 industrial electric automobiles considering that 2017 and its scalable, decentralized manufacturing design allows it to grow manufacturing without a number of the connected framework costs using its asset light manufacturing model. The company prepares to scale manufacturing in the very first quarter of 2022, through brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s turning point success demonstrates that Cenntro is quickly ending up being a considerable gamer in the electric commercial automobile market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merging behind us and also money of $250 million, we are well placed to build up our European operating center in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will considerably enhance assembly, sales and after-market solution abilities for procedures.

“Moreover, the new resources likewise permits Cenntro to expand our management team, core united state operations, board of directors as well as strategic consultants to sustain and also manage our rapid development. I am just as thrilled regarding our development already in 2022 based upon the interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile shipment as well as community services.

“Lastly, we are going through numerous efforts consisting of a re-branding of our public materials, brand-new corporate administration, the appointment of calculated advisors as well as capitalist relationships to connect with key stakeholders and also new financiers. We eagerly anticipate reviewing all those efforts as well as turning points during our conference call in April 2022 reviewing our fiscal 2021 economic outcomes,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation firm with innovative, market-validated electric industrial automobiles. Cenntro plans to lead the transformation in the automobile sector through scalable, decentralized production and completely digitalized independent driving remedies empowered by the Cenntro iChassis. Cenntro has produced as well as supplied over 3,600 industrial EVs in greater than 26 nations. For more information concerning the firm, please go to www.cenntroauto.com.