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

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

Firm Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and also Financial Toughness to Support Expansion 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 firm with advanced, market-validated electrical industrial vehicles, revealed today that it achieved a document manufacturing turning point of 1,623 electrical industrial vehicles (ECV) for 2021 as well as experienced its highest quantity month of 628 ECV’s produced as well as delivered in December 2021.

The Company also introduced the introduction of 4 new vehicle designs during monetary 2021 and has actually obtained positive responses from its European and also American network partners and also customers.

Cenntro’s item profile includes Course 1– Class 4 vehicles in addition to off-road offerings and, with its channel partner network, it presently distributes automobiles in over 26 countries to target consumers, which include company fleets (i.e., utilities firms), medium and also little companies (i.e., small processing centers, farms, solar ranches, hotels, intended communities, and so on), in addition to both state as well as federal government fleets.

Cenntro has produced and also provided over 3,600 commercial electrical lorries because 2017 as well as its scalable, decentralized production model enables it to expand manufacturing without many of the linked infrastructure expenses using its asset light manufacturing design. The business intends to scale production in the initial quarter of 2022, through new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point success shows that Cenntro is quickly ending up being a significant gamer in the electrical commercial vehicle market,” said Peter Wang, Chairman and also Ceo of Cenntro Electric Group “With the merging behind us and also cash of $250 million, we are well positioned to develop our European operating center in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially boost assembly, sales and also after-market solution abilities for procedures.

“Additionally, the new funding also allows Cenntro to expand our monitoring group, core U.S. procedures, board of supervisors and also critical advisors to sustain and also manage our rapid development. I am similarly excited about our progression already in 2022 based on the rate of interest we received at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution as well as municipal services.

“Finally, we are undertaking numerous initiatives consisting of a re-branding of our public products, new company administration, the appointment of tactical experts as well as financier connections to communicate with vital stakeholders and also brand-new capitalists. We anticipate examining all those efforts as well as milestones throughout our teleconference in April 2022 discussing our fiscal 2021 financial outcomes,” wrapped up Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with innovative, market-validated electric commercial automobiles. Cenntro prepares to lead the change in the automotive industry with scalable, decentralized manufacturing and also totally digitalized self-governing driving services encouraged by the Cenntro iChassis. Cenntro has actually created and also supplied over 3,600 business EVs in greater than 26 nations. For more information concerning the business, please see www.cenntroauto.com.