Cenntro Electric Group Accomplishes Document Manufacturing Milestone of 1,623 Electric Commercial Vehicles in 2021

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

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

NASDAQ: CENN, a leading EV innovation firm with advanced, market-validated electric industrial vehicles, announced today that it accomplished a record production landmark of 1,623 electric industrial lorries (ECV) for 2021 and also experienced its highest possible quantity month of 628 ECV’s produced and also shipped in December 2021.

The Firm additionally introduced the intro of 4 brand-new vehicle versions throughout financial 2021 and has obtained desirable responses from its European as well as American channel partners and customers.

Cenntro’s item profile includes Class 1– Course 4 cars in addition to off-road offerings and also, via its channel partner network, it presently disperses cars in over 26 countries to target consumers, that include business fleets (i.e., energies companies), tool and little business (i.e., little processing facilities, ranches, solar farms, hotels, prepared areas, and so on), along with both state and also federal government fleets.

Cenntro has generated and supplied over 3,600 commercial electric automobiles since 2017 and its scalable, decentralized manufacturing design allows it to grow production without a lot of the associated framework costs using its possession light producing model. The company prepares to range production in the initial quarter of 2022, via new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone accomplishment shows that Cenntro is quickly becoming a significant player in the electric commercial automobile market,” said Peter Wang, Chairman and Chief Executive Officer 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 assembly plant in Jacksonville, Florida, which will dramatically increase setting up, sales and after-market solution abilities for operations.

“Moreover, the brand-new funding also allows Cenntro to increase our management group, core united state procedures, board of supervisors as well as strategic experts to support as well as handle our quick development. I am equally excited concerning our progression currently in 2022 based upon the passion we got at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile distribution as well as metropolitan services.

“Lastly, we are going through several initiatives including a re-branding of our public materials, new business administration, the consultation of critical experts as well as financier connections to communicate with essential stakeholders and also new financiers. We eagerly anticipate reviewing all those campaigns and turning points throughout our teleconference in April 2022 discussing our fiscal 2021 monetary outcomes,” ended Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation firm with sophisticated, market-validated electrical business cars. Cenntro intends to lead the change in the automobile industry via scalable, decentralized production and also fully digitalized independent driving services equipped by the Cenntro iChassis. Cenntro has actually produced as well as provided over 3,600 business EVs in more than 26 countries. For more information regarding the business, please visit www.cenntroauto.com.