Cenntro Electric Group Achieves Record Manufacturing Milestone of 1,623 Electric Commercial Vehicles in 2021

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

Company Finishes Fiscal 2021 with $250 Million in Cash Money, No Debt and Financial Stamina to Assistance Development of its European Operating Facility in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV innovation business with innovative, market-validated electric industrial vehicles, announced today that it achieved a record production turning point of 1,623 electric commercial lorries (ECV) for 2021 as well as experienced its greatest quantity month of 628 ECV’s created and also shipped in December 2021.

The Business likewise revealed the intro of four brand-new car models throughout financial 2021 and also has received favorable responses from its European and also American network partners as well as customers.

Cenntro’s item portfolio includes Class 1– Class 4 automobiles in addition to off-road offerings as well as, via its channel companion network, it presently disperses automobiles in over 26 countries to target customers, that include business fleets (i.e., utilities firms), tool as well as tiny firms (i.e., little handling centers, ranches, solar farms, resorts, intended areas, etc), as well as both state and federal government fleets.

Cenntro has actually generated and also delivered over 3,600 business electrical vehicles considering that 2017 and also its scalable, decentralized manufacturing model permits it to grow manufacturing without a lot of the associated facilities expenses utilizing its possession light making version. The firm intends to range manufacturing in the very first quarter of 2022, via new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone accomplishment shows that Cenntro is rapidly ending up being a considerable gamer in the electrical industrial vehicle market,” stated Peter Wang, Chairman and President of Cenntro Electric Group “With the merger behind us as well as money of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will significantly increase setting up, sales and after-market service capabilities for procedures.

“Furthermore, the brand-new resources likewise allows Cenntro to broaden our management team, core united state procedures, board of directors and calculated advisors to support and also handle our quick development. I am equally delighted about our progress already in 2022 based upon the rate of interest we got at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery as well as community services.

“Ultimately, we are going through several efforts including a re-branding of our public products, new business governance, the appointment of tactical consultants and also investor relations to communicate with essential stakeholders and also brand-new capitalists. We eagerly anticipate evaluating all those efforts as well as turning points throughout our teleconference in April 2022 reviewing our fiscal 2021 monetary outcomes,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with innovative, market-validated electric business cars. Cenntro plans to lead the improvement in the automotive industry through scalable, decentralized manufacturing and also totally digitalized self-governing driving solutions encouraged by the Cenntro iChassis. Cenntro has actually generated and also supplied over 3,600 industrial EVs in greater than 26 nations. For additional information concerning the firm, please see www.cenntroauto.com.