Cenntro Electric Group Accomplishes Record Manufacturing Turning Point of 1,623 Electric Commercial Automobiles in 2021

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

Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Debt and also Financial Stamina to Support Growth of its European Operating Center in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited, a leading EV modern technology company with sophisticated, market-validated electric business vehicles, revealed today that it attained a document production landmark of 1,623 electrical business cars (ECV) for 2021 and experienced its greatest volume month of 628 ECV’s generated as well as shipped in December 2021.

The Company likewise introduced the introduction of 4 brand-new vehicle designs throughout financial 2021 as well as has obtained positive responses from its European as well as American network partners and also customers.

Cenntro’s product profile consists of Class 1– Course 4 vehicles in addition to off-road offerings and also, via its network partner network, it presently distributes vehicles in over 26 countries to target consumers, which include company fleets (i.e., utilities firms), tool and small business (i.e., small handling facilities, ranches, solar ranches, hotels, planned neighborhoods, etc), as well as both state and federal government fleets.

Cenntro has generated and supplied over 3,600 business electrical cars because 2017 and also its scalable, decentralized manufacturing version enables it to expand production without much of the linked facilities expenses using its property light producing version. The company prepares to scale production in the very first quarter of 2022, through new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark achievement demonstrates that Cenntro is promptly ending up being a considerable player in the electric commercial vehicle market,” claimed Peter Wang, Chairman as well as Ceo of Cenntro Electric Group “With the merger behind us and cash money of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will substantially increase setting up, sales as well as after-market solution capabilities for operations.

“In addition, the new resources likewise enables Cenntro to expand our administration group, core united state operations, board of directors and critical advisors to sustain as well as handle our quick growth. I am just as delighted about our progression already in 2022 based upon the interest we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution and community solutions.

“Lastly, we are going through numerous efforts including a re-branding of our public materials, brand-new business governance, the consultation of critical advisors and investor relations to interact with essential stakeholders as well as new capitalists. We eagerly anticipate evaluating all those efforts as well as milestones during our teleconference in April 2022 reviewing our monetary 2021 monetary results,” concluded Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with sophisticated, market-validated electrical commercial automobiles. Cenntro plans to lead the transformation in the automotive sector via scalable, decentralized production as well as completely digitalized independent driving remedies empowered by the Cenntro iChassis. Cenntro has generated as well as delivered over 3,600 commercial EVs in more than 26 nations. For more details regarding the business, please go to www.cenntroauto.com.