Cenntro Electric Group Achieves Document Manufacturing Turning Point of 1,623 Electric Commercial Automobiles in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Money, No Financial Obligation and also Financial Toughness to Assistance Development of its European Operating Center in Dusseldorf, Germany as well as New Assembly Plant in Jacksonville, Florida

Cenntro Electric Group Limited, a leading EV innovation business with innovative, market-validated electrical business automobiles, announced today that it attained a document manufacturing milestone of 1,623 electric commercial vehicles (ECV) for 2021 and also experienced its highest volume month of 628 ECV’s produced as well as shipped in December 2021.

The Company additionally announced the introduction of four brand-new lorry versions during financial 2021 and has received desirable reactions from its European as well as American channel companions and also consumers.

Cenntro’s product portfolio includes Class 1– Class 4 lorries along with off-road offerings and also, with its channel companion network, it currently disperses automobiles in over 26 nations to target consumers, that include business fleets (i.e., utilities firms), tool and also little business (i.e., tiny handling facilities, ranches, solar ranches, resorts, planned neighborhoods, etc), along with both state as well as federal government fleets.

Cenntro has created and provided over 3,600 business electrical lorries considering that 2017 and also its scalable, decentralized manufacturing version permits it to grow production without most of the linked infrastructure expenses using its asset light making version. The business prepares to range manufacturing in the very first quarter of 2022, through new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point achievement demonstrates that Cenntro is swiftly ending up being a considerable gamer in the electric commercial lorry market,” stated Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merger behind us and also cash of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will substantially boost setting up, sales as well as after-market solution capacities for procedures.

“In addition, the brand-new funding likewise permits Cenntro to broaden our monitoring group, core U.S. operations, board of directors and also tactical advisors to support and handle our quick growth. I am similarly delighted concerning our development currently in 2022 based on the interest we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile distribution and also metropolitan solutions.

“Ultimately, we are going through several efforts consisting of a re-branding of our public materials, brand-new company governance, the visit of tactical consultants and also investor relationships to communicate with vital stakeholders and new financiers. We anticipate assessing all those efforts as well as landmarks throughout our conference call in April 2022 discussing our monetary 2021 monetary results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with sophisticated, market-validated electrical business cars. Cenntro intends to lead the improvement in the automobile industry with scalable, decentralized manufacturing as well as completely digitalized independent driving services equipped by the Cenntro iChassis. Cenntro has produced and delivered over 3,600 industrial EVs in more than 26 countries. For more details regarding the firm, please check out www.cenntroauto.com.