Cenntro Electric Group Accomplishes Document Production Turning Point of 1,623 Electric Commercial Cars in 2021

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

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

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV innovation business with advanced, market-validated electrical commercial cars, announced today that it accomplished a record manufacturing milestone of 1,623 electric business vehicles (ECV) for 2021 and experienced its highest possible quantity month of 628 ECV’s produced and also delivered in December 2021.

The Firm also introduced the introduction of four brand-new lorry models throughout monetary 2021 and also has actually obtained positive responses from its European and American network partners and also consumers.

Cenntro’s product profile consists of Course 1– Class 4 cars in addition to off-road offerings and, with its network partner network, it presently disperses vehicles in over 26 nations to target consumers, that include corporate fleets (i.e., energies firms), medium and little business (i.e., tiny processing facilities, ranches, solar farms, resorts, planned neighborhoods, etc), along with both state as well as federal government fleets.

Cenntro has created and delivered over 3,600 commercial electrical cars given that 2017 as well as its scalable, decentralized production model allows it to grow production without a number of the associated framework costs utilizing its possession light producing design. The company plans to range manufacturing in the very first quarter of 2022, through new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point success shows that Cenntro is promptly ending up being a significant player in the electric business car market,” stated Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merger behind us and cash money of $250 million, we are well placed to develop our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will dramatically boost assembly, sales and after-market solution capabilities for operations.

“In addition, the new funding likewise allows Cenntro to broaden our monitoring team, core united state operations, board of supervisors as well as tactical consultants to sustain as well as manage our fast development. I am just as thrilled about our progression already in 2022 based upon the passion we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution as well as local solutions.

“Lastly, we are undertaking many efforts consisting of a re-branding of our public products, brand-new corporate governance, the visit of critical consultants and financier relationships to connect with essential stakeholders and new financiers. We anticipate evaluating all those efforts as well as turning points throughout our conference call in April 2022 reviewing our fiscal 2021 financial results,” ended Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with sophisticated, market-validated electrical business lorries. Cenntro prepares to lead the improvement in the auto market via scalable, decentralized manufacturing and also totally digitalized autonomous driving options equipped by the Cenntro iChassis. Cenntro has actually generated and also provided over 3,600 business EVs in more than 26 countries. To find out more about the firm, please visit www.cenntroauto.com.