Cenntro Electric Group Accomplishes Document Production Milestone of 1,623 Electric Commercial Autos in 2021

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

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

NASDAQ:NAKD, a leading EV technology business with sophisticated, market-validated electrical industrial lorries, introduced today that it accomplished a record production landmark of 1,623 electrical business automobiles (ECV) for 2021 as well as experienced its greatest volume month of 628 ECV’s created as well as delivered in December 2021.

The Company additionally introduced the introduction of 4 brand-new car models during financial 2021 and also has received beneficial reactions from its European and also American network partners as well as clients.

Cenntro’s item profile consists of Course 1– Class 4 automobiles in addition to off-road offerings as well as, through its network companion network, it currently distributes automobiles in over 26 countries to target clients, that include company fleets (i.e., energies firms), tool and also tiny companies (i.e., little handling facilities, farms, solar ranches, hotels, prepared areas, etc), in addition to both state and federal government fleets.

Cenntro has actually created and also provided over 3,600 business electric automobiles because 2017 and its scalable, decentralized manufacturing model allows it to grow production without much of the linked facilities costs using its asset light making model. The firm prepares to range production in the first quarter of 2022, through brand-new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark success shows that Cenntro is swiftly ending up being a significant gamer in the electric business lorry market,” stated Peter Wang, Chairman and also President of Cenntro Electric Group “With the merging behind us and money of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will substantially increase setting up, sales and also after-market service capabilities for operations.

“Additionally, the brand-new funding additionally permits Cenntro to increase our monitoring group, core U.S. procedures, board of supervisors and also critical experts to sustain and handle our quick growth. I am similarly excited about our development already in 2022 based upon the interest we got at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile distribution and local solutions.

“Lastly, we are undergoing numerous efforts including a re-branding of our public products, new business administration, the visit of calculated advisors and investor connections to connect with vital stakeholders and also brand-new financiers. We look forward to examining all those initiatives as well as milestones during our conference call in April 2022 discussing our financial 2021 monetary results,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with innovative, market-validated electrical commercial automobiles. Cenntro intends to lead the improvement in the auto market through scalable, decentralized production and totally digitalized autonomous driving services equipped by the Cenntro iChassis. Cenntro has actually created as well as provided over 3,600 business EVs in greater than 26 nations. To learn more about the company, please go to www.cenntroauto.com.