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

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

Business Finishes Fiscal 2021 with $250 Million in Money, No Debt and also Financial Strength to Support Expansion of its European Operating Center in Dusseldorf, Germany as well as New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited, a leading EV modern technology business with innovative, market-validated electrical industrial automobiles, introduced today that it attained a document manufacturing turning point of 1,623 electric commercial vehicles (ECV) for 2021 as well as experienced its highest possible volume month of 628 ECV’s produced as well as delivered in December 2021.

The Company also announced the introduction of 4 brand-new car versions throughout fiscal 2021 as well as has gotten beneficial reactions from its European as well as American channel partners as well as clients.

Cenntro’s item profile consists of Class 1– Course 4 cars in addition to off-road offerings and, through its network partner network, it currently distributes vehicles in over 26 countries to target customers, which include company fleets (i.e., utilities companies), tool and small firms (i.e., tiny processing centers, farms, solar farms, hotels, intended areas, and so on), as well as both state and federal government fleets.

Cenntro has produced and also delivered over 3,600 business electric cars given that 2017 as well as its scalable, decentralized manufacturing model enables it to expand manufacturing without a lot of the associated framework costs using its possession light producing version. The company intends to range production in the very first quarter of 2022, with new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s milestone accomplishment demonstrates that Cenntro is rapidly becoming a substantial player in the electrical business lorry market,” said Peter Wang, Chairman as well as Chief Executive Officer of Cenntro Electric Group “With the merger behind us as well as cash money of $250 million, we are well placed to develop our European operating facility in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will substantially increase setting up, sales and also after-market service capacities for operations.

“Additionally, the new funding also enables Cenntro to broaden our administration group, core united state operations, board of supervisors and also strategic consultants to support as well as handle our rapid growth. I am similarly excited about our progress already in 2022 based on the passion we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery and local solutions.

“Lastly, we are going through several initiatives including a re-branding of our public materials, brand-new company governance, the consultation of strategic advisors as well as capitalist connections to interact with crucial stakeholders as well as new financiers. We anticipate examining all those efforts and turning points during our conference call in April 2022 discussing our monetary 2021 monetary outcomes,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation firm with advanced, market-validated electric business automobiles. Cenntro plans to lead the makeover in the auto market via scalable, decentralized production as well as totally digitalized self-governing driving solutions equipped by the Cenntro iChassis. Cenntro has actually produced as well as provided over 3,600 business EVs in more than 26 countries. To find out more about the firm, please browse through www.cenntroauto.com.