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

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

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

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV modern technology business with innovative, market-validated electrical commercial vehicles, announced today that it achieved a record production turning point of 1,623 electrical industrial cars (ECV) for 2021 as well as experienced its highest possible volume month of 628 ECV’s generated and also delivered in December 2021.

The Firm likewise revealed the intro of four brand-new automobile versions during fiscal 2021 as well as has actually obtained beneficial responses from its European and American network companions and also clients.

Cenntro’s item profile consists of Class 1– Course 4 cars along with off-road offerings as well as, with its network partner network, it currently disperses vehicles in over 26 nations to target clients, which include business fleets (i.e., energies firms), tool as well as small business (i.e., tiny handling facilities, farms, solar farms, hotels, intended neighborhoods, and so on), along with both state as well as federal government fleets.

Cenntro has actually produced as well as supplied over 3,600 industrial electrical automobiles given that 2017 and its scalable, decentralized production version permits it to grow manufacturing without much of the linked infrastructure prices using its possession light making version. The business plans to scale production in the very first quarter of 2022, via new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is rapidly becoming a considerable player in the electrical commercial lorry market,” claimed Peter Wang, Chairman as well as Ceo of Cenntro Electric Group “With the merging behind us and also money of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially raise setting up, sales and also after-market service abilities for operations.

“Furthermore, the new resources also permits Cenntro to expand our monitoring group, core U.S. operations, board of directors and also strategic experts to sustain as well as handle our quick growth. I am just as excited regarding our development currently in 2022 based on the passion we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment and municipal services.

“Lastly, we are undertaking lots of campaigns consisting of a re-branding of our public materials, new company governance, the consultation of strategic experts and investor relations to communicate with essential stakeholders and brand-new financiers. We anticipate reviewing all those initiatives and also milestones throughout our conference call in April 2022 reviewing our financial 2021 economic outcomes,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology business with innovative, market-validated electrical business lorries. Cenntro prepares to lead the makeover in the vehicle market via scalable, decentralized production and totally digitalized autonomous driving options equipped by the Cenntro iChassis. Cenntro has actually created and provided over 3,600 business EVs in more than 26 countries. To learn more concerning the company, please check out www.cenntroauto.com.

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