Cenntro Electric Group Attains Document Production Landmark of 1,623 Electric Commercial Automobiles in 2021

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

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

NASDAQ: CENN, a leading EV technology business with innovative, market-validated electrical commercial lorries, announced today that it accomplished a record manufacturing milestone of 1,623 electric industrial lorries (ECV) for 2021 as well as experienced its greatest volume month of 628 ECV’s produced as well as shipped in December 2021.

The Company likewise introduced the intro of 4 brand-new automobile designs throughout financial 2021 and also has obtained positive responses from its European and also American network partners and customers.

Cenntro’s product profile consists of Course 1– Course 4 automobiles in addition to off-road offerings and also, through its channel companion network, it currently distributes vehicles in over 26 countries to target consumers, which include corporate fleets (i.e., utilities companies), tool as well as small companies (i.e., small processing facilities, ranches, solar farms, resorts, planned communities, and so on), in addition to both state and federal government fleets.

Cenntro has actually created as well as supplied over 3,600 business electric vehicles considering that 2017 as well as its scalable, decentralized manufacturing model permits it to grow manufacturing without a lot of the associated infrastructure prices utilizing its property light producing version. The firm prepares to scale production in the very first quarter of 2022, via brand-new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point achievement shows that Cenntro is quickly coming to be a substantial player in the electric commercial lorry market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merging behind us and also cash of $250 million, we are well positioned to accumulate our European operating facility in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will dramatically enhance assembly, sales as well as after-market solution capacities for procedures.

“Furthermore, the new resources also permits Cenntro to broaden our monitoring group, core U.S. operations, board of supervisors and critical consultants to support as well as handle our quick growth. I am equally thrilled regarding our development currently in 2022 based upon the passion we got at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment as well as municipal services.

“Lastly, we are undertaking lots of efforts including a re-branding of our public materials, brand-new corporate governance, the appointment of calculated experts and financier relationships to interact with crucial stakeholders as well as new financiers. We eagerly anticipate examining all those initiatives and milestones throughout our teleconference in April 2022 reviewing our monetary 2021 economic outcomes,” ended Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with sophisticated, market-validated electric business lorries. Cenntro intends to lead the improvement in the vehicle industry through scalable, decentralized production and also completely digitalized autonomous driving remedies equipped by the Cenntro iChassis. Cenntro has generated and supplied over 3,600 business EVs in greater than 26 countries. For additional information about the company, please browse through www.cenntroauto.com.

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