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

Firm Finishes Fiscal 2021 with $250 Million in Cash, No Financial Debt as well as Financial Strength to Support Growth of its European Operating Facility in Dusseldorf, Germany as well as New Assembly Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV modern technology company with sophisticated, market-validated electrical business cars, revealed today that it attained a record production turning point of 1,623 electrical business cars (ECV) for 2021 and experienced its highest volume month of 628 ECV’s generated and shipped in December 2021.

The Business also revealed the introduction of four new car designs throughout monetary 2021 as well as has actually obtained favorable responses from its European as well as American network partners as well as clients.

Cenntro’s item portfolio consists of Course 1– Course 4 automobiles in addition to off-road offerings and also, with its channel companion network, it presently distributes vehicles in over 26 countries to target customers, that include business fleets (i.e., utilities firms), medium as well as little companies (i.e., small processing centers, ranches, solar ranches, hotels, prepared communities, and so on), as well as both state and federal government fleets.

Cenntro has created as well as provided over 3,600 business electric vehicles because 2017 and its scalable, decentralized production version permits it to grow production without most of the connected infrastructure costs using its property light making design. The firm prepares to scale manufacturing in the very first quarter of 2022, through new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is promptly ending up being a significant gamer in the electrical business vehicle market,” claimed Peter Wang, Chairman as well as Ceo of Cenntro Electric Group “With the merger behind us and also cash of $250 million, we are well positioned to develop our European operating center in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will considerably raise setting up, sales as well as after-market solution abilities for operations.

“Additionally, the new funding also allows Cenntro to broaden our administration group, core united state procedures, board of supervisors as well as tactical consultants to sustain and handle our fast development. I am similarly thrilled concerning our development already in 2022 based on the interest we obtained at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery and also metropolitan services.

“Finally, we are undertaking several efforts consisting of a re-branding of our public materials, brand-new corporate administration, the visit of critical experts as well as capitalist relations to communicate with vital stakeholders and new investors. We eagerly anticipate examining all those initiatives and also milestones during our teleconference in April 2022 reviewing our fiscal 2021 financial results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with sophisticated, market-validated electrical commercial lorries. Cenntro prepares to lead the change in the vehicle industry via scalable, decentralized production as well as completely digitalized autonomous driving remedies equipped by the Cenntro iChassis. Cenntro has created and also supplied over 3,600 industrial EVs in greater than 26 nations. For additional information regarding the business, please check out www.cenntroauto.com.