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

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

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV technology firm with advanced, market-validated electric industrial lorries, revealed today that it attained a document production landmark of 1,623 electric commercial cars (ECV) for 2021 and also experienced its greatest volume month of 628 ECV’s produced as well as delivered in December 2021.

The Company additionally revealed the introduction of 4 new automobile versions during financial 2021 and also has actually received favorable responses from its European as well as American channel partners and also clients.

Cenntro’s item portfolio consists of Course 1– Course 4 automobiles along with off-road offerings and also, with its channel companion network, it presently disperses automobiles in over 26 nations to target customers, that include business fleets (i.e., energies business), medium and also little firms (i.e., small handling facilities, farms, solar ranches, hotels, planned neighborhoods, etc), in addition to both state and also federal government fleets.

Cenntro has produced and supplied over 3,600 commercial electric cars because 2017 as well as its scalable, decentralized manufacturing design permits it to grow manufacturing without much of the linked infrastructure expenses using its asset light manufacturing version. The company intends to scale manufacturing in the very first quarter of 2022, through new facilities both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s turning point achievement shows that Cenntro is promptly becoming a significant player in the electric industrial vehicle market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merging behind us and also cash of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany and assembly plant in Jacksonville, Florida, which will dramatically increase assembly, sales and after-market service capabilities for operations.

“Furthermore, the new capital also allows Cenntro to increase our management team, core U.S. procedures, board of directors and also critical consultants to support and also manage our fast growth. I am equally thrilled 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 and local services.

“Finally, we are going through numerous efforts including a re-branding of our public products, new corporate administration, the appointment of critical consultants as well as capitalist connections to communicate with crucial stakeholders and brand-new capitalists. We anticipate examining all those initiatives and also milestones throughout our teleconference in April 2022 reviewing our monetary 2021 monetary results,” wrapped up Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with innovative, market-validated electrical business vehicles. Cenntro intends to lead the makeover in the vehicle market with scalable, decentralized manufacturing as well as fully digitalized autonomous driving services equipped by the Cenntro iChassis. Cenntro has actually created and also provided over 3,600 commercial EVs in more than 26 nations. To find out more regarding the firm, please go to www.cenntroauto.com.