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

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

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV innovation company with advanced, market-validated electrical industrial cars, introduced today that it attained a document production milestone of 1,623 electrical industrial automobiles (ECV) for 2021 and also experienced its greatest quantity month of 628 ECV’s generated and also delivered in December 2021.

The Business also revealed the intro of four brand-new lorry models throughout fiscal 2021 and has actually received positive reactions from its European and American channel partners and clients.

Cenntro’s item portfolio includes Class 1– Class 4 vehicles along with off-road offerings as well as, with its network partner network, it presently distributes lorries in over 26 nations to target consumers, that include company fleets (i.e., energies companies), tool and also tiny companies (i.e., small handling facilities, ranches, solar ranches, hotels, planned areas, etc), as well as both state and federal government fleets.

Cenntro has actually generated as well as delivered over 3,600 commercial electrical cars because 2017 and its scalable, decentralized manufacturing version allows it to grow manufacturing without much of the associated infrastructure prices utilizing its asset light manufacturing version. The company prepares to scale production in the very first quarter of 2022, through new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is quickly ending up being a considerable gamer in the electrical business vehicle market,” stated Peter Wang, Chairman and President of Cenntro Electric Group “With the merging behind us and also money 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 dramatically raise setting up, sales and also after-market service abilities for procedures.

“Moreover, the brand-new capital likewise allows Cenntro to expand our administration group, core U.S. procedures, board of directors and tactical experts to sustain and also handle our quick growth. I am equally delighted concerning our development already in 2022 based on the rate of interest we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution as well as municipal services.

“Ultimately, we are undergoing several initiatives consisting of a re-branding of our public products, new business administration, the consultation of strategic experts and investor relations to communicate with crucial stakeholders and brand-new investors. We anticipate examining all those campaigns and turning points during our conference call in April 2022 discussing our monetary 2021 economic results,” ended Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with sophisticated, market-validated electrical commercial vehicles. Cenntro intends to lead the improvement in the auto industry with scalable, decentralized manufacturing as well as fully digitalized autonomous driving services equipped by the Cenntro iChassis. Cenntro has actually created and also supplied over 3,600 industrial EVs in more than 26 countries. To find out more about the company, please go to www.cenntroauto.com.