Cenntro Electric Group Accomplishes Document Manufacturing Milestone of 1,623 Electric Commercial Vehicles in 2021

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

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

Cenntro Electric Group Limited, a leading EV technology company with innovative, market-validated electrical commercial cars, introduced today that it accomplished a record manufacturing landmark of 1,623 electric commercial vehicles (ECV) for 2021 and experienced its highest volume month of 628 ECV’s generated as well as delivered in December 2021.

The Firm likewise announced the introduction of four new car designs during financial 2021 and has actually obtained favorable reactions from its European and also American channel companions as well as consumers.

Cenntro’s item profile consists of Class 1– Course 4 automobiles in addition to off-road offerings as well as, via its network partner network, it presently disperses vehicles in over 26 countries to target customers, that include corporate fleets (i.e., utilities companies), medium and also little companies (i.e., small processing centers, ranches, solar farms, resorts, planned areas, etc), as well as both state and also federal government fleets.

Cenntro has actually produced and also delivered over 3,600 commercial electric cars given that 2017 and its scalable, decentralized production model allows it to grow manufacturing without much of the associated facilities prices utilizing its asset light making model. The business prepares to scale manufacturing in the first quarter of 2022, through brand-new facilities both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is swiftly becoming a substantial gamer in the electric business car market,” claimed Peter Wang, Chairman and also Ceo of Cenntro Electric Group “With the merging behind us and also cash money of $250 million, we are well positioned to accumulate our European operating facility in Dusseldorf, Germany and also assembly plant in Jacksonville, Florida, which will considerably enhance assembly, sales and also after-market solution capabilities for operations.

“Furthermore, the brand-new funding likewise enables Cenntro to increase our monitoring group, core U.S. procedures, board of directors as well as strategic consultants to sustain and manage our fast growth. I am equally excited about our progression already in 2022 based upon the interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution and also municipal services.

“Ultimately, we are undergoing several efforts including a re-branding of our public products, new business governance, the consultation of tactical consultants and investor relations to communicate with essential stakeholders as well as new capitalists. We expect evaluating all those campaigns and milestones during our conference call in April 2022 reviewing our financial 2021 monetary outcomes,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation business with innovative, market-validated electrical business cars. Cenntro prepares to lead the makeover in the vehicle industry via scalable, decentralized manufacturing and totally digitalized independent driving solutions equipped by the Cenntro iChassis. Cenntro has actually generated as well as supplied over 3,600 business EVs in greater than 26 countries. To find out more concerning the company, please go to www.cenntroauto.com.