Cenntro Electric Group Achieves Record Production Milestone of 1,623 Electric Commercial Cars in 2021

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

Company Finishes Fiscal 2021 with $250 Million in Money, No Financial Debt and also Financial Stamina to Assistance Growth of its European Operating Center in Dusseldorf, Germany as well as New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV modern technology firm with advanced, market-validated electric commercial vehicles, introduced today that it accomplished a document production landmark of 1,623 electrical commercial automobiles (ECV) for 2021 and also experienced its highest quantity month of 628 ECV’s produced as well as delivered in December 2021.

The Business likewise announced the intro of 4 brand-new vehicle models during monetary 2021 as well as has gotten desirable responses from its European and also American channel companions and clients.

Cenntro’s product profile includes Course 1– Course 4 automobiles along with off-road offerings and, via its channel partner network, it currently distributes automobiles in over 26 nations to target consumers, that include company fleets (i.e., energies business), medium and also tiny business (i.e., tiny processing facilities, ranches, solar farms, resorts, planned communities, and so on), as well as both state as well as federal government fleets.

Cenntro has actually generated and also provided over 3,600 commercial electric lorries because 2017 and also its scalable, decentralized production design allows it to grow manufacturing without a number of the associated facilities prices utilizing its possession light manufacturing model. The firm plans to scale production in the first quarter of 2022, through brand-new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point achievement demonstrates that Cenntro is rapidly becoming a significant player in the electrical business car market,” said Peter Wang, Chairman and President of Cenntro Electric Group “With the merging behind us and also cash of $250 million, we are well placed to develop our European operating center in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially boost setting up, sales and also after-market service capacities for procedures.

“In addition, the new resources also allows Cenntro to expand our management group, core united state procedures, board of supervisors and strategic experts to support as well as manage our rapid development. I am equally delighted regarding our development currently in 2022 based on the interest we obtained at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile shipment and municipal services.

“Finally, we are undertaking many initiatives consisting of a re-branding of our public materials, new company administration, the visit of strategic experts as well as capitalist relationships to connect with crucial stakeholders and brand-new financiers. We eagerly anticipate examining all those campaigns as well as landmarks during our teleconference in April 2022 discussing our fiscal 2021 economic outcomes,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with advanced, market-validated electrical business vehicles. Cenntro plans to lead the makeover in the vehicle sector via scalable, decentralized production and also totally digitalized autonomous driving services encouraged by the Cenntro iChassis. Cenntro has created as well as provided over 3,600 business EVs in more than 26 nations. For more details concerning the company, please go to www.cenntroauto.com.