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Cenntro Electric Group Accomplishes Document Production Milestone of 1,623 Electric Commercial Automobiles in 2021

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

Business Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation as well as Financial Toughness to Support Expansion of its European Operating Facility in Dusseldorf, Germany and also New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV modern technology company with advanced, market-validated electrical business cars, revealed today that it achieved a document production milestone of 1,623 electrical business lorries (ECV) for 2021 as well as experienced its highest possible volume month of 628 ECV’s generated as well as delivered in December 2021.

The Firm additionally announced the intro of 4 brand-new vehicle models throughout monetary 2021 as well as has received desirable reactions from its European and American channel companions as well as consumers.

Cenntro’s item profile consists of Course 1– Course 4 lorries in addition to off-road offerings and also, through its channel partner network, it currently distributes automobiles in over 26 countries to target customers, that include company fleets (i.e., utilities business), tool as well as tiny business (i.e., small processing facilities, ranches, solar ranches, resorts, prepared areas, and so on), in addition to both state and also federal government fleets.

Cenntro has produced as well as supplied over 3,600 industrial electrical lorries because 2017 as well as its scalable, decentralized manufacturing design permits it to expand production without much of the connected framework prices utilizing its possession light making model. The business plans to scale production in the first quarter of 2022, through brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is quickly ending up being a substantial player in the electric commercial vehicle market,” claimed Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merger behind us as well as cash of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially raise setting up, sales as well as after-market solution capacities for procedures.

“Additionally, the brand-new resources likewise enables Cenntro to expand our management team, core united state operations, board of directors and also tactical advisors to support as well as handle our fast development. I am similarly excited concerning our progression already in 2022 based on the interest we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment as well as metropolitan services.

“Ultimately, we are undergoing many initiatives including a re-branding of our public materials, new company administration, the appointment of calculated experts and financier relations to communicate with crucial stakeholders and also new capitalists. We eagerly anticipate assessing all those efforts and also turning points during our conference call in April 2022 reviewing our financial 2021 monetary outcomes,” ended Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with innovative, market-validated electrical industrial lorries. Cenntro intends to lead the improvement in the auto market via scalable, decentralized production as well as fully digitalized self-governing driving services encouraged by the Cenntro iChassis. Cenntro has generated and also supplied over 3,600 industrial EVs in more than 26 countries. To find out more regarding the business, please browse through www.cenntroauto.com.