Cenntro Electric Group Attains Record Manufacturing Turning Point of 1,623 Electric Commercial Automobiles in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Cash, No Debt as well as Financial Stamina to Support Growth of its European Operating Facility in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited, a leading EV innovation company with innovative, market-validated electric business lorries, introduced today that it attained a record production landmark of 1,623 electrical business cars (ECV) for 2021 and experienced its greatest volume month of 628 ECV’s produced and also delivered in December 2021.

The Business additionally revealed the intro of four brand-new automobile models during monetary 2021 as well as has obtained positive responses from its European and also American network partners as well as clients.

Cenntro’s product portfolio includes Class 1– Class 4 cars in addition to off-road offerings and, with its network companion network, it presently disperses cars in over 26 countries to target customers, which include corporate fleets (i.e., utilities companies), medium and small business (i.e., small handling facilities, farms, solar farms, hotels, intended communities, etc), along with both state as well as federal government fleets.

Cenntro has produced and delivered over 3,600 commercial electric lorries considering that 2017 and its scalable, decentralized manufacturing design permits it to grow manufacturing without a number of the connected facilities prices using its asset light making design. The firm prepares to range production in the initial quarter of 2022, with brand-new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is promptly becoming a substantial gamer in the electric business automobile market,” stated Peter Wang, Chairman as well as Ceo of Cenntro Electric Group “With the merger behind us and cash of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will considerably enhance setting up, sales as well as after-market solution capacities for procedures.

“Moreover, the new capital likewise allows Cenntro to broaden our management group, core U.S. procedures, board of directors and also strategic advisors to sustain as well as manage our fast development. I am similarly delighted about our progress currently in 2022 based upon the rate of interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile delivery as well as community services.

“Lastly, we are undergoing numerous campaigns consisting of a re-branding of our public products, new company governance, the appointment of strategic consultants as well as financier relations to connect with key stakeholders as well as brand-new financiers. We eagerly anticipate examining all those efforts as well as milestones during our conference call in April 2022 reviewing our fiscal 2021 financial results,” wrapped up Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with sophisticated, market-validated electrical commercial automobiles. Cenntro intends to lead the change in the automotive market through scalable, decentralized production as well as fully digitalized independent driving solutions equipped by the Cenntro iChassis. Cenntro has created and delivered over 3,600 commercial EVs in greater than 26 nations. To learn more concerning the business, please check out www.cenntroauto.com.

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