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

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

Cenntro Electric Group Limited, a leading EV innovation firm with advanced, market-validated electrical industrial vehicles, announced today that it attained a record manufacturing milestone of 1,623 electrical industrial vehicles (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s created as well as shipped in December 2021.

The Business likewise revealed the introduction of four new automobile designs throughout fiscal 2021 and has actually received beneficial reactions from its European and also American network companions and clients.

Cenntro’s item portfolio consists of Class 1– Course 4 vehicles along with off-road offerings and, with its network companion network, it currently distributes cars in over 26 nations to target clients, which include business fleets (i.e., energies companies), medium and also small companies (i.e., little handling centers, ranches, solar farms, resorts, planned neighborhoods, and so on), as well as both state and also federal government fleets.

Cenntro has produced and delivered over 3,600 commercial electric automobiles considering that 2017 as well as its scalable, decentralized manufacturing design allows it to expand production without most of the connected framework prices utilizing its possession light producing design. The business intends to range production in the very first quarter of 2022, through brand-new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone success shows that Cenntro is rapidly becoming a considerable player in the electric industrial vehicle market,” claimed Peter Wang, Chairman and President of Cenntro Electric Group “With the merger behind us as well as cash of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will significantly enhance setting up, sales and also after-market solution abilities for procedures.

“Moreover, the new resources likewise enables Cenntro to increase our monitoring group, core united state operations, board of supervisors and calculated consultants to support and handle our quick development. I am equally delighted regarding our progress already in 2022 based on the rate of interest we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery as well as local solutions.

“Lastly, we are undertaking several campaigns including a re-branding of our public materials, new corporate governance, the appointment of tactical consultants and financier relationships to connect with vital stakeholders and new investors. We look forward to examining all those campaigns and also turning points throughout our teleconference in April 2022 reviewing our fiscal 2021 financial results,” ended Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with advanced, market-validated electric commercial vehicles. Cenntro prepares to lead the change in the automotive industry through scalable, decentralized manufacturing and completely digitalized autonomous driving services empowered by the Cenntro iChassis. Cenntro has actually produced and also provided over 3,600 industrial EVs in greater than 26 nations. For more details about the firm, please browse through www.cenntroauto.com.