Cenntro Electric Group Achieves Document Production Milestone of 1,623 Electric Commercial Autos in 2021

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

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

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV innovation firm with innovative, market-validated electrical industrial lorries, introduced today that it accomplished a record production milestone of 1,623 electric industrial lorries (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s generated as well as delivered in December 2021.

The Company likewise introduced the intro of 4 new vehicle versions throughout financial 2021 as well as has actually obtained desirable responses from its European and also American channel companions and also clients.

Cenntro’s item portfolio includes Course 1– Class 4 vehicles along with off-road offerings and, through its channel partner network, it presently disperses vehicles in over 26 countries to target consumers, that include business fleets (i.e., utilities business), medium and also small firms (i.e., little handling facilities, ranches, solar ranches, hotels, intended areas, and so on), as well as both state and federal government fleets.

Cenntro has produced as well as delivered over 3,600 commercial electric vehicles considering that 2017 as well as its scalable, decentralized production version allows it to expand production without most of the associated infrastructure expenses using its possession light producing model. The company intends to scale manufacturing in the initial quarter of 2022, through new facilities both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is rapidly coming to be a substantial gamer in the electric commercial lorry market,” claimed Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merging behind us and also money of $250 million, we are well placed to accumulate our European operating center in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will significantly raise assembly, sales as well as after-market solution abilities for procedures.

“Moreover, the new capital additionally permits Cenntro to increase our management team, core U.S. procedures, board of supervisors and tactical consultants to sustain and also handle our rapid growth. I am just as thrilled about our development currently in 2022 based on the interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution as well as local solutions.

“Ultimately, we are going through numerous initiatives including a re-branding of our public products, new business administration, the consultation of tactical consultants as well as capitalist relations to connect with vital stakeholders and brand-new financiers. We eagerly anticipate reviewing all those initiatives as well as landmarks during our conference call in April 2022 reviewing our financial 2021 economic results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with sophisticated, market-validated electrical business automobiles. Cenntro intends to lead the makeover in the automotive industry with scalable, decentralized manufacturing and also fully digitalized autonomous driving options equipped by the Cenntro iChassis. Cenntro has actually generated and provided over 3,600 industrial EVs in greater than 26 countries. For more information concerning the company, please go to www.cenntroauto.com.

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