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

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

Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Debt and also Financial Stamina to Support Growth of its European Operating Center in Dusseldorf, Germany as well as New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV technology company with innovative, market-validated electric industrial cars, announced today that it achieved a document production landmark of 1,623 electrical industrial vehicles (ECV) for 2021 and also experienced its highest volume month of 628 ECV’s generated as well as shipped in December 2021.

The Firm additionally introduced the introduction of four brand-new vehicle designs throughout financial 2021 and also has actually gotten positive responses from its European as well as American network partners and also customers.

Cenntro’s product portfolio consists of Class 1– Course 4 lorries along with off-road offerings as well as, through its channel companion network, it presently disperses cars in over 26 nations to target clients, that include business fleets (i.e., energies business), medium as well as little firms (i.e., little handling facilities, ranches, solar ranches, hotels, intended neighborhoods, etc), in addition to both state and federal government fleets.

Cenntro has actually produced and also provided over 3,600 business electric vehicles since 2017 as well as its scalable, decentralized production design enables it to expand production without many of the associated framework expenses using its asset light making model. The business intends to scale manufacturing in the very first quarter of 2022, via new facilities both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s turning point accomplishment demonstrates that Cenntro is swiftly becoming a significant gamer in the electrical commercial lorry market,” stated Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merger behind us and cash of $250 million, we are well placed to develop our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will considerably enhance setting up, sales as well as after-market solution abilities for procedures.

“Moreover, the new capital likewise allows Cenntro to increase our monitoring group, core united state procedures, board of directors as well as calculated experts to sustain and also handle our rapid development. I am just as thrilled regarding our development currently in 2022 based on the passion we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment as well as community solutions.

“Finally, we are undertaking lots of campaigns consisting of a re-branding of our public materials, brand-new business administration, the appointment of calculated experts and investor connections to connect with key stakeholders as well as brand-new investors. We eagerly anticipate reviewing all those initiatives and landmarks during our conference call in April 2022 reviewing our fiscal 2021 monetary results,” ended Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with advanced, market-validated electrical commercial cars. Cenntro intends to lead the improvement in the automotive market via scalable, decentralized production and also completely digitalized independent driving solutions empowered by the Cenntro iChassis. Cenntro has actually generated as well as supplied over 3,600 commercial EVs in more than 26 countries. To learn more concerning the business, please see www.cenntroauto.com.