Cenntro Electric Group Attains Record Production Turning Point of 1,623 Electric Commercial Autos in 2021

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

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

NASDAQ: CENN, a leading EV technology company with sophisticated, market-validated electrical commercial cars, announced 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 generated and also delivered in December 2021.

The Firm likewise introduced the intro of four brand-new lorry designs during fiscal 2021 and has actually received favorable responses from its European and American channel companions and also clients.

Cenntro’s item portfolio consists of Course 1– Course 4 automobiles along with off-road offerings as well as, through its network companion network, it presently disperses lorries in over 26 countries to target clients, which include business fleets (i.e., utilities firms), tool and also little business (i.e., tiny handling centers, ranches, solar ranches, hotels, planned communities, and so on), as well as both state as well as federal government fleets.

Cenntro has actually created and provided over 3,600 industrial electrical automobiles since 2017 as well as its scalable, decentralized production design permits it to expand manufacturing without many of the associated framework expenses utilizing its asset light making version. The company plans to scale production in the initial quarter of 2022, with brand-new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is swiftly becoming a substantial player in the electrical business lorry market,” claimed Peter Wang, Chairman as well as Chief Executive Officer 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 and also setting up plant in Jacksonville, Florida, which will substantially enhance assembly, sales and after-market service abilities for operations.

“In addition, the brand-new capital additionally enables Cenntro to broaden our administration group, core united state operations, board of supervisors and also critical experts to sustain and handle our fast growth. I am similarly thrilled concerning our progression currently in 2022 based upon the passion we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution as well as municipal services.

“Finally, we are going through several efforts consisting of a re-branding of our public materials, new corporate administration, the consultation of critical advisors and capitalist relations to communicate with crucial stakeholders and also brand-new investors. We look forward to examining all those efforts and also landmarks throughout our teleconference in April 2022 reviewing our financial 2021 economic results,” ended Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with innovative, market-validated electric business vehicles. Cenntro intends to lead the improvement in the auto industry via scalable, decentralized manufacturing and completely digitalized self-governing driving services equipped by the Cenntro iChassis. Cenntro has actually created and also provided over 3,600 commercial EVs in more than 26 countries. For more information about the business, please visit www.cenntroauto.com.