Cenntro Electric Group Accomplishes Record Manufacturing Turning Point of 1,623 Electric Commercial Autos in 2021

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

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

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric business automobiles, introduced today that it accomplished a document production turning point of 1,623 electric industrial automobiles (ECV) for 2021 as well as experienced its highest possible quantity month of 628 ECV’s created and also shipped in December 2021.

The Company likewise introduced the introduction of four new lorry designs during financial 2021 and also has actually gotten beneficial reactions from its European and American channel partners and also clients.

Cenntro’s item portfolio includes Class 1– Class 4 cars in addition to off-road offerings and, via its network partner network, it currently distributes vehicles in over 26 nations to target consumers, which include company fleets (i.e., utilities companies), tool and also little firms (i.e., little handling facilities, farms, solar ranches, hotels, planned neighborhoods, and so on), as well as both state and also federal government fleets.

Cenntro has actually generated and also supplied over 3,600 business electrical automobiles since 2017 and also its scalable, decentralized manufacturing model allows it to expand production without a number of the linked infrastructure costs using its property light making model. The company plans to scale manufacturing in the initial quarter of 2022, via new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is promptly becoming a significant gamer in the electric industrial car market,” stated Peter Wang, Chairman as well as Chief Executive Officer of Cenntro Electric Group “With the merger behind us and cash of $250 million, we are well positioned to develop our European operating center in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will substantially raise setting up, sales as well as after-market service capacities for operations.

“Moreover, the brand-new resources additionally permits Cenntro to increase our management team, core U.S. procedures, board of supervisors as well as strategic consultants to support as well as manage our rapid development. I am equally excited regarding our development already in 2022 based on the interest we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution and municipal services.

“Ultimately, we are going through several efforts including a re-branding of our public products, brand-new company administration, the appointment of strategic consultants as well as investor relations to connect with vital stakeholders as well as new financiers. We anticipate examining all those efforts and also landmarks during our teleconference in April 2022 reviewing our financial 2021 monetary results,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation business with innovative, market-validated electrical commercial vehicles. Cenntro prepares to lead the improvement in the automobile market through scalable, decentralized manufacturing and totally digitalized independent driving options empowered by the Cenntro iChassis. Cenntro has generated and supplied over 3,600 commercial EVs in more than 26 nations. To find out more concerning the business, please visit www.cenntroauto.com.