Cenntro Electric Group Attains Document Production Milestone of 1,623 Electric Commercial Vehicles in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Money, No Financial Obligation and also Financial Strength to Support Expansion 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 firm with sophisticated, market-validated electric commercial lorries, announced today that it accomplished a document production milestone of 1,623 electric commercial vehicles (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s generated and also delivered in December 2021.

The Company likewise announced the intro of 4 brand-new car models during monetary 2021 and also has obtained positive responses from its European and also American channel companions and clients.

Cenntro’s product profile consists of Course 1– Class 4 cars in addition to off-road offerings as well as, via its channel partner network, it presently disperses cars in over 26 countries to target consumers, which include corporate fleets (i.e., utilities business), medium as well as tiny business (i.e., tiny processing facilities, farms, solar ranches, hotels, prepared areas, etc), as well as both state and also federal government fleets.

Cenntro has created and delivered over 3,600 business electrical automobiles given that 2017 and its scalable, decentralized manufacturing version permits it to expand production without much of the linked infrastructure prices utilizing its property light producing design. The company plans to scale manufacturing in the first quarter of 2022, via new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark accomplishment demonstrates that Cenntro is swiftly becoming a considerable player in the electrical business automobile market,” stated Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merger behind us and also cash of $250 million, we are well placed to accumulate our European operating center in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will dramatically boost setting up, sales and after-market service capabilities for procedures.

“Additionally, the brand-new resources also allows Cenntro to expand our administration group, core U.S. procedures, board of supervisors and critical consultants to sustain as well as manage our quick growth. I am just as delighted about our progression already in 2022 based upon the interest we got at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment and metropolitan solutions.

“Finally, we are undergoing lots of initiatives including a re-branding of our public products, brand-new company administration, the appointment of strategic advisors as well as financier connections to communicate with vital stakeholders and also new investors. We eagerly anticipate examining all those efforts and also landmarks throughout our teleconference in April 2022 discussing our monetary 2021 monetary results,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with sophisticated, market-validated electrical commercial lorries. Cenntro prepares to lead the transformation in the vehicle market via scalable, decentralized production as well as completely digitalized autonomous driving services equipped by the Cenntro iChassis. Cenntro has created and supplied over 3,600 commercial EVs in greater than 26 countries. For more information regarding the firm, please check out www.cenntroauto.com.