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Cenntro Electric Group Achieves Document Production Landmark of 1,623 Electric Commercial Automobiles in 2021

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

Firm Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and Financial Toughness to Support Expansion of its European Operating Center in Dusseldorf, Germany as well as New Setting Up Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electrical business cars, revealed today that it attained a document production landmark of 1,623 electrical industrial vehicles (ECV) for 2021 and experienced its highest volume month of 628 ECV’s generated and delivered in December 2021.

The Business also announced the introduction of four new car designs during financial 2021 as well as has obtained positive reactions from its European and also American channel companions and clients.

Cenntro’s item portfolio includes Course 1– Course 4 cars along with off-road offerings and, with its network companion network, it currently distributes cars in over 26 nations to target customers, which include company fleets (i.e., utilities business), tool and little business (i.e., small processing centers, farms, solar farms, resorts, prepared neighborhoods, and so on), along with both state as well as federal government fleets.

Cenntro has actually generated and also provided over 3,600 industrial electric automobiles since 2017 as well as its scalable, decentralized manufacturing model permits it to grow manufacturing without most of the linked framework prices utilizing its possession light making design. The firm plans to scale production in the first quarter of 2022, through brand-new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone achievement shows that Cenntro is promptly ending up being a significant gamer in the electric commercial car market,” claimed Peter Wang, Chairman and President of Cenntro Electric Group “With the merger behind us and cash of $250 million, we are well positioned to develop our European operating center in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will dramatically enhance setting up, sales as well as after-market solution capacities for procedures.

“Additionally, the new resources likewise allows Cenntro to broaden our management team, core U.S. procedures, board of directors and calculated consultants to sustain as well as manage our fast development. I am equally thrilled concerning our progression already in 2022 based upon the passion we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile delivery and also community services.

“Lastly, we are undertaking several efforts including a re-branding of our public products, new company administration, the appointment of tactical advisors and investor connections to communicate with essential stakeholders and new investors. We anticipate assessing all those campaigns and also milestones during our conference call in April 2022 reviewing our monetary 2021 economic results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with sophisticated, market-validated electric commercial vehicles. Cenntro intends to lead the makeover in the automobile sector via scalable, decentralized manufacturing and fully digitalized autonomous driving solutions encouraged by the Cenntro iChassis. Cenntro has actually produced and also delivered over 3,600 industrial EVs in more than 26 countries. To find out more concerning the company, please browse through www.cenntroauto.com.