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

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

Business Finishes Fiscal 2021 with $250 Million in Cash, No Debt as well as Financial Stamina to Assistance Expansion of its European Operating Facility in Dusseldorf, Germany as well as New Assembly Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV innovation business with advanced, market-validated electric business vehicles, announced today that it accomplished a record production milestone of 1,623 electrical industrial automobiles (ECV) for 2021 and experienced its highest volume month of 628 ECV’s created and shipped in December 2021.

The Firm likewise introduced the intro of four brand-new car models during financial 2021 and also has actually gotten desirable reactions from its European and also American channel companions and clients.

Cenntro’s product profile includes Course 1– Class 4 lorries in addition to off-road offerings and, through its network companion network, it currently disperses lorries in over 26 nations to target clients, that include company fleets (i.e., utilities firms), tool and also tiny companies (i.e., tiny handling centers, farms, solar farms, hotels, prepared areas, etc), along with both state and federal government fleets.

Cenntro has actually generated and also provided over 3,600 commercial electric lorries since 2017 as well as its scalable, decentralized manufacturing version allows it to grow manufacturing without many of the linked facilities prices utilizing its asset light producing design. The company intends to range manufacturing in the initial quarter of 2022, via new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s milestone achievement shows that Cenntro is swiftly becoming a substantial player in the electrical business vehicle market,” stated Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merging behind us and money of $250 million, we are well placed to build up our European operating facility in Dusseldorf, Germany and also assembly plant in Jacksonville, Florida, which will significantly enhance setting up, sales as well as after-market service abilities for operations.

“Additionally, the brand-new funding additionally enables Cenntro to broaden our management team, core U.S. procedures, board of supervisors and critical advisors to support and handle our quick development. I am equally delighted concerning our progression currently in 2022 based upon the interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment and municipal services.

“Lastly, we are undergoing lots of efforts consisting of a re-branding of our public materials, brand-new business administration, the appointment of critical advisors and financier relationships to communicate with essential stakeholders and brand-new financiers. We look forward to evaluating all those initiatives and milestones throughout our conference call 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 company with innovative, market-validated electrical commercial cars. Cenntro plans to lead the makeover in the vehicle market through scalable, decentralized production and completely digitalized self-governing driving solutions equipped by the Cenntro iChassis. Cenntro has produced and also delivered over 3,600 commercial EVs in greater than 26 nations. To learn more regarding the firm, please go to www.cenntroauto.com.