Cenntro Electric Group Accomplishes Record Production Landmark of 1,623 Electric Commercial Vehicles in 2021

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

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

Cenntro Electric Group Limited, a leading EV modern technology company with sophisticated, market-validated electric commercial automobiles, announced today that it achieved a document production milestone of 1,623 electric industrial cars (ECV) for 2021 as well as experienced its highest quantity month of 628 ECV’s produced and delivered in December 2021.

The Business likewise introduced the intro of four new lorry versions throughout monetary 2021 and has actually received favorable responses from its European and American channel companions and also consumers.

Cenntro’s product portfolio consists of Class 1– Class 4 automobiles along with off-road offerings and, via its channel companion network, it currently distributes lorries in over 26 countries to target clients, that include business fleets (i.e., energies companies), tool and little firms (i.e., small processing facilities, farms, solar farms, resorts, planned communities, and so on), along with both state and federal government fleets.

Cenntro has actually generated as well as supplied over 3,600 industrial electric lorries given that 2017 as well as its scalable, decentralized manufacturing design enables it to grow manufacturing without a lot of the connected framework costs using its possession light manufacturing model. The business plans to range production in the very first quarter of 2022, with new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is quickly becoming a considerable player in the electric industrial car market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merging behind us as well as cash money of $250 million, we are well placed to accumulate our European operating center in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially increase assembly, sales and also after-market solution abilities for procedures.

“In addition, the brand-new capital likewise allows Cenntro to broaden our administration team, core united state operations, board of supervisors as well as critical advisors to support as well as handle our quick growth. I am similarly excited concerning our development currently in 2022 based upon the interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution and local solutions.

“Ultimately, we are undergoing many efforts including a re-branding of our public materials, brand-new company administration, the consultation of tactical consultants and also capitalist relationships to interact with vital stakeholders and new capitalists. We look forward to reviewing all those efforts and turning points during our conference call in April 2022 reviewing our fiscal 2021 economic outcomes,” wrapped up Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with innovative, market-validated electric industrial automobiles. Cenntro plans to lead the makeover in the automobile sector via scalable, decentralized production as well as completely digitalized self-governing driving options empowered by the Cenntro iChassis. Cenntro has actually created as well as supplied over 3,600 industrial EVs in more than 26 nations. For more information regarding the firm, please check out www.cenntroauto.com.

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