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Cenntro Electric Group Accomplishes Record Manufacturing Landmark of 1,623 Electric Commercial Vehicles in 2021

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

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

Cenntro Electric Group Limited, a leading EV modern technology company with sophisticated, market-validated electrical business cars, revealed today that it attained a record production turning point of 1,623 electric industrial automobiles (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s produced and also delivered in December 2021.

The Business additionally introduced the introduction of four brand-new vehicle models during monetary 2021 as well as has obtained favorable reactions from its European and American channel partners and also customers.

Cenntro’s product profile includes Class 1– Class 4 vehicles along with off-road offerings and, via its channel partner network, it currently disperses vehicles in over 26 countries to target consumers, which include company fleets (i.e., utilities firms), tool and also small companies (i.e., little handling facilities, ranches, solar farms, hotels, prepared areas, etc), as well as both state and also federal government fleets.

Cenntro has actually generated and supplied over 3,600 business electric cars considering that 2017 and also its scalable, decentralized manufacturing version allows it to expand production without a lot of the associated framework prices using its possession light making design. The company prepares to range production in the initial quarter of 2022, via new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark accomplishment demonstrates that Cenntro is quickly coming to be a substantial player in the electrical business automobile market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merger behind us and money of $250 million, we are well positioned to build up our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will considerably boost setting up, sales as well as after-market service capabilities for operations.

“Additionally, the new resources likewise permits Cenntro to broaden our management team, core U.S. operations, board of directors and also critical experts to support and also manage our fast growth. I am just as delighted concerning our development already in 2022 based upon the rate of interest we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery and also metropolitan solutions.

“Lastly, we are undergoing several efforts consisting of a re-branding of our public products, brand-new business governance, the consultation of critical experts and also investor relations to communicate with key stakeholders and brand-new capitalists. We eagerly anticipate reviewing all those campaigns and landmarks during our conference call in April 2022 discussing our financial 2021 monetary results,” wrapped up Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology business with sophisticated, market-validated electric industrial cars. Cenntro prepares to lead the change in the automobile industry through scalable, decentralized manufacturing as well as totally digitalized self-governing driving services empowered by the Cenntro iChassis. Cenntro has actually created and provided over 3,600 business EVs in greater than 26 nations. For more information concerning the company, please check out www.cenntroauto.com.

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