Cenntro Electric Group Achieves Record Production Turning Point of 1,623 Electric Commercial Vehicles in 2021

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

Firm Finishes Fiscal 2021 with $250 Million in Cash Money, No Financial Obligation and also Financial Stamina to Assistance Growth of its European Operating Center in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV technology company with sophisticated, market-validated electric industrial cars, introduced today that it attained a record manufacturing turning point of 1,623 electric commercial cars (ECV) for 2021 and experienced its highest quantity month of 628 ECV’s created as well as delivered in December 2021.

The Company also revealed the intro of 4 new automobile models throughout monetary 2021 as well as has obtained desirable reactions from its European and also American channel partners and also customers.

Cenntro’s item portfolio consists of Course 1– Class 4 automobiles in addition to off-road offerings as well as, through its network partner network, it currently disperses cars in over 26 countries to target clients, that include corporate fleets (i.e., utilities companies), medium and tiny firms (i.e., tiny handling centers, ranches, solar farms, hotels, prepared neighborhoods, and so on), along with both state and federal government fleets.

Cenntro has actually produced and also supplied over 3,600 business electric vehicles given that 2017 and also its scalable, decentralized manufacturing version enables it to grow production without much of the connected framework costs utilizing its property light manufacturing model. The company intends to scale production in the first quarter of 2022, with brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s landmark success shows that Cenntro is promptly ending up being a considerable gamer in the electric industrial lorry market,” stated Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merging behind us as well as cash of $250 million, we are well positioned to build up our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will dramatically raise assembly, sales and also after-market service capacities for procedures.

“Furthermore, the brand-new capital additionally permits Cenntro to broaden our administration group, core united state procedures, board of directors and critical consultants to sustain and handle our rapid growth. I am equally thrilled regarding our development currently in 2022 based upon the interest we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment and also local services.

“Lastly, we are going through lots of campaigns consisting of a re-branding of our public materials, brand-new corporate governance, the visit of tactical consultants and also investor connections to interact with key stakeholders as well as brand-new capitalists. We eagerly anticipate examining all those campaigns and turning points throughout our teleconference in April 2022 reviewing our monetary 2021 monetary results,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation firm with advanced, market-validated electric commercial cars. Cenntro plans to lead the improvement in the auto industry through scalable, decentralized manufacturing as well as fully digitalized independent driving remedies equipped by the Cenntro iChassis. Cenntro has actually generated and also delivered over 3,600 industrial EVs in more than 26 countries. For additional information regarding the firm, please visit www.cenntroauto.com.