Cenntro Electric Group Achieves Record Production Landmark of 1,623 Electric Commercial Cars in 2021

628 ECV’s Generated in December 2021 Represents Highest Quantity in a Single Month

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

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV modern technology company with sophisticated, market-validated electrical business vehicles, announced today that it accomplished a record manufacturing landmark of 1,623 electric industrial lorries (ECV) for 2021 and experienced its highest quantity month of 628 ECV’s generated and delivered in December 2021.

The Business additionally revealed the intro of 4 brand-new car models during financial 2021 and has actually received beneficial responses from its European and also American network partners as well as customers.

Cenntro’s product profile includes Course 1– Class 4 vehicles in addition to off-road offerings and also, through its channel partner network, it currently disperses vehicles in over 26 nations to target customers, which include corporate fleets (i.e., energies companies), medium and also small firms (i.e., tiny handling facilities, farms, solar farms, resorts, intended areas, etc), as well as both state and federal government fleets.

Cenntro has actually generated and also supplied over 3,600 business electric lorries because 2017 as well as its scalable, decentralized production model permits it to expand production without much of the connected framework prices using its property light manufacturing model. The company intends to range production in the first quarter of 2022, through new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s turning point achievement shows that Cenntro is rapidly becoming a considerable player in the electrical industrial automobile market,” stated Peter Wang, Chairman as well as Chief Executive Officer of Cenntro Electric Group “With the merging behind us and also money of $250 million, we are well placed to develop our European operating facility in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will significantly boost setting up, sales and also after-market service capacities for procedures.

“Furthermore, the new capital additionally enables Cenntro to expand our monitoring group, core united state procedures, board of directors as well as strategic advisors to sustain as well as handle our quick development. I am just as delighted concerning our progress already in 2022 based on the interest we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile distribution and metropolitan services.

“Lastly, we are undergoing many efforts consisting of a re-branding of our public products, brand-new business administration, the appointment of strategic consultants and also financier relations to connect with essential stakeholders and brand-new financiers. We look forward to reviewing all those efforts and also landmarks throughout our teleconference in April 2022 reviewing our monetary 2021 financial results,” wrapped up Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with advanced, market-validated electrical commercial vehicles. Cenntro plans to lead the improvement in the automotive sector through scalable, decentralized manufacturing as well as fully digitalized autonomous driving remedies encouraged by the Cenntro iChassis. Cenntro has created and also supplied over 3,600 industrial EVs in more than 26 nations. For more information concerning the business, please go to www.cenntroauto.com.