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

Firm Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and also Financial Stamina 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 innovation firm with advanced, market-validated electric industrial lorries, announced today that it achieved a document production milestone of 1,623 electric business automobiles (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s produced and also delivered in December 2021.

The Company also revealed the intro of four new vehicle designs throughout financial 2021 and also has actually received positive responses from its European and also American channel companions as well as clients.

Cenntro’s item profile consists of Course 1– Class 4 automobiles along with off-road offerings and also, with its network companion network, it currently distributes cars in over 26 nations to target consumers, which include company fleets (i.e., utilities companies), tool and also little firms (i.e., little handling facilities, ranches, solar farms, hotels, planned neighborhoods, and so on), in addition to both state and federal government fleets.

Cenntro has generated as well as delivered over 3,600 industrial electric lorries considering that 2017 as well as its scalable, decentralized production version allows it to expand manufacturing without most of the associated facilities expenses using its possession light making design. The business prepares to range manufacturing in the very first quarter of 2022, via brand-new facilities both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s turning point achievement demonstrates that Cenntro is promptly ending up being a substantial gamer in the electric business lorry market,” said Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merging behind us and money of $250 million, we are well positioned to develop our European operating center in Dusseldorf, Germany and also setting up plant in Jacksonville, Florida, which will considerably increase setting up, sales as well as after-market service abilities for procedures.

“Additionally, the brand-new resources also permits Cenntro to expand our management group, core united state procedures, board of directors and strategic advisors to support as well as handle our quick growth. I am similarly thrilled concerning our progression currently in 2022 based on the rate of interest we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery as well as metropolitan solutions.

“Lastly, we are going through many efforts consisting of a re-branding of our public materials, new corporate governance, the consultation of tactical experts and financier connections to connect with crucial stakeholders and also brand-new investors. We look forward to examining all those initiatives and milestones throughout our conference call in April 2022 reviewing our financial 2021 monetary results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation business with sophisticated, market-validated electric business cars. Cenntro plans to lead the improvement in the automobile sector via scalable, decentralized production and totally digitalized self-governing driving solutions empowered by the Cenntro iChassis. Cenntro has actually generated and also supplied over 3,600 industrial EVs in more than 26 countries. For more details about the company, please check out www.cenntroauto.com.

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