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Cenntro Electric Group Achieves Record Production Turning Point of 1,623 Electric Commercial Cars in 2021

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

Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Debt and Financial Strength to Assistance Development 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 innovation business with innovative, market-validated electrical business lorries, revealed today that it attained a document manufacturing turning point of 1,623 electric commercial lorries (ECV) for 2021 and also experienced its highest volume month of 628 ECV’s generated and also shipped in December 2021.

The Firm additionally introduced the introduction of four new lorry models throughout fiscal 2021 and also has gotten beneficial reactions from its European as well as American channel companions as well as customers.

Cenntro’s item profile consists of Course 1– Course 4 automobiles in addition to off-road offerings and, through its network partner network, it presently disperses lorries in over 26 countries to target clients, which include corporate fleets (i.e., energies business), medium and also small business (i.e., tiny handling facilities, ranches, solar farms, resorts, intended communities, and so on), along with both state and also federal government fleets.

Cenntro has produced and delivered over 3,600 commercial electric lorries considering that 2017 and also its scalable, decentralized manufacturing model permits it to expand manufacturing without most of the linked framework costs utilizing its asset light manufacturing design. The company prepares to range manufacturing in the initial quarter of 2022, with new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone accomplishment demonstrates that Cenntro is swiftly becoming a substantial player in the electrical commercial automobile market,” claimed Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merging behind us as well as cash money 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 considerably enhance assembly, sales and after-market service capacities for operations.

“Additionally, the brand-new capital also allows Cenntro to increase our management team, core U.S. operations, board of directors and critical consultants to support as well as manage our rapid development. I am similarly thrilled 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 also local solutions.

“Lastly, we are going through many efforts including a re-branding of our public products, new company governance, the visit of calculated advisors as well as investor connections to interact with crucial stakeholders and also brand-new financiers. We anticipate examining all those initiatives and also milestones throughout our teleconference in April 2022 reviewing our financial 2021 economic results,” concluded Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with advanced, market-validated electrical business cars. Cenntro prepares to lead the makeover in the automobile industry via scalable, decentralized production as well as totally digitalized self-governing driving solutions empowered by the Cenntro iChassis. Cenntro has produced and also supplied over 3,600 commercial EVs in more than 26 nations. For more details about the business, please see www.cenntroauto.com.

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