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

Firm Finishes Fiscal 2021 with $250 Million in Money, No Debt and also Financial Toughness to Assistance Expansion of its European Operating Facility in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV modern technology firm with sophisticated, market-validated electric business lorries, announced today that it accomplished a document manufacturing landmark of 1,623 electric business automobiles (ECV) for 2021 as well as experienced its highest volume month of 628 ECV’s produced and delivered in December 2021.

The Business likewise introduced the introduction of 4 new lorry versions throughout monetary 2021 and also has gotten positive responses from its European and American network companions and clients.

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

Cenntro has actually created and also supplied over 3,600 industrial electrical automobiles considering that 2017 as well as its scalable, decentralized manufacturing design allows it to expand production without a lot of the associated framework prices using its asset light manufacturing version. The firm prepares to scale production in the initial quarter of 2022, with brand-new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark achievement demonstrates that Cenntro is swiftly coming to be a significant gamer in the electrical industrial vehicle market,” stated Peter Wang, Chairman and President of Cenntro Electric Group “With the merger behind us and also money of $250 million, we are well placed to accumulate our European operating facility in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will substantially boost assembly, sales and after-market service abilities for procedures.

“Additionally, the brand-new capital also permits Cenntro to expand our monitoring team, core united state operations, board of supervisors and also tactical experts to sustain and handle our fast development. I am similarly thrilled concerning our development already in 2022 based upon the rate of interest we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery and also metropolitan solutions.

“Ultimately, we are undertaking several initiatives consisting of a re-branding of our public materials, brand-new business administration, the appointment of critical experts and capitalist connections to interact with crucial stakeholders as well as new financiers. We expect assessing 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 technology business with advanced, market-validated electric business automobiles. Cenntro plans to lead the improvement in the vehicle sector via scalable, decentralized manufacturing and also fully digitalized autonomous driving solutions empowered by the Cenntro iChassis. Cenntro has actually produced and delivered over 3,600 industrial EVs in more than 26 nations. For additional information regarding the company, please browse through www.cenntroauto.com.