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

Company Finishes Fiscal 2021 with $250 Million in Cash Money, No Financial Obligation as well as Financial Strength to Assistance Expansion of its European Operating Center in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV technology company with sophisticated, market-validated electric business cars, introduced today that it attained a record production landmark of 1,623 electrical business lorries (ECV) for 2021 and also experienced its highest possible volume month of 628 ECV’s produced as well as delivered in December 2021.

The Company additionally introduced the introduction of 4 brand-new lorry models during fiscal 2021 and also has actually received positive reactions from its European and American network partners and also customers.

Cenntro’s product profile includes Course 1– Class 4 vehicles in addition to off-road offerings and also, with its channel partner network, it currently disperses automobiles in over 26 nations to target clients, which include company fleets (i.e., energies business), tool as well as little business (i.e., small handling centers, ranches, solar farms, hotels, prepared communities, etc), along with both state and also federal government fleets.

Cenntro has actually generated and delivered over 3,600 industrial electrical vehicles because 2017 as well as its scalable, decentralized manufacturing design permits it to grow production without much of the connected framework costs using its property light making model. The firm prepares to scale manufacturing in the very first quarter of 2022, with new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point success demonstrates that Cenntro is quickly ending up being a significant player in the electric commercial automobile market,” stated Peter Wang, Chairman and also President of Cenntro Electric Group “With the merger behind us and also money of $250 million, we are well positioned to build up our European operating facility in Dusseldorf, Germany and also assembly plant in Jacksonville, Florida, which will considerably enhance assembly, sales and also after-market solution abilities for procedures.

“Furthermore, the brand-new capital additionally allows Cenntro to expand our monitoring group, core U.S. operations, board of supervisors and tactical experts to support as well as handle our quick growth. I am equally delighted concerning our progress currently in 2022 based upon the rate of interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile delivery and municipal solutions.

“Ultimately, we are going through many campaigns including a re-branding of our public materials, new business governance, the consultation of calculated experts as well as investor relationships to communicate with key stakeholders as well as new capitalists. We expect assessing all those initiatives and also landmarks throughout our teleconference in April 2022 discussing our financial 2021 monetary outcomes,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with sophisticated, market-validated electric commercial automobiles. Cenntro prepares to lead the improvement in the automotive sector via scalable, decentralized production and also completely digitalized independent driving options empowered by the Cenntro iChassis. Cenntro has actually created and supplied over 3,600 industrial EVs in more than 26 countries. For more details regarding the company, please browse through www.cenntroauto.com.