Cenntro Electric Group Achieves Record Production Turning Point of 1,623 Electric Commercial Autos in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Cash Money, No Financial Debt and also Financial Strength to Assistance Development 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 innovation company with advanced, market-validated electric industrial vehicles, announced today that it accomplished a record manufacturing milestone of 1,623 electrical business lorries (ECV) for 2021 and also experienced its highest volume month of 628 ECV’s created and also shipped in December 2021.

The Firm also announced the introduction of four brand-new automobile versions during monetary 2021 and has actually obtained desirable reactions from its European and also American network partners and consumers.

Cenntro’s item portfolio includes Class 1– Course 4 vehicles along with off-road offerings and also, through its network partner network, it currently distributes lorries in over 26 nations to target customers, which include corporate fleets (i.e., energies firms), tool and little business (i.e., tiny handling facilities, farms, solar farms, hotels, planned communities, etc), in addition to both state and also federal government fleets.

Cenntro has actually produced as well as supplied over 3,600 business electric automobiles since 2017 as well as its scalable, decentralized production design enables it to grow manufacturing without many of the linked framework prices using its property light making design. The company plans to range manufacturing in the first quarter of 2022, with new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark success shows that Cenntro is swiftly coming to be a considerable player in the electrical business vehicle market,” stated Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merger behind us and cash of $250 million, we are well positioned to accumulate our European operating facility in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will considerably increase setting up, sales as well as after-market service capacities for operations.

“In addition, the brand-new resources also allows Cenntro to increase our monitoring team, core united state procedures, board of directors and also tactical advisors to sustain and manage our fast development. I am just as excited concerning our progression already in 2022 based upon the rate of interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment and community solutions.

“Ultimately, we are undertaking many campaigns consisting of a re-branding of our public products, new corporate governance, the consultation of critical advisors as well as financier connections to communicate with crucial stakeholders as well as new capitalists. We look forward to assessing all those initiatives and also landmarks during our conference call in April 2022 reviewing our monetary 2021 financial results,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with innovative, market-validated electrical business lorries. Cenntro prepares to lead the change in the vehicle industry with scalable, decentralized production as well as totally digitalized independent driving remedies equipped by the Cenntro iChassis. Cenntro has generated and provided over 3,600 commercial EVs in greater than 26 countries. To learn more about the firm, please visit www.cenntroauto.com.