Cenntro Electric Group Achieves Record Manufacturing Landmark of 1,623 Electric Commercial Autos in 2021

628 ECV’s Created in December 2021 Represents Highest Quantity in a Solitary Month

Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and Financial Toughness to Assistance Development 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 modern technology company with innovative, market-validated electric industrial automobiles, revealed today that it accomplished a document manufacturing milestone of 1,623 electric industrial lorries (ECV) for 2021 and also experienced its greatest volume month of 628 ECV’s created and also delivered in December 2021.

The Business also revealed the introduction of four brand-new automobile versions throughout financial 2021 and also has actually received beneficial reactions from its European as well as American channel partners and customers.

Cenntro’s product profile consists of Course 1– Class 4 lorries in addition to off-road offerings and also, via its channel partner network, it currently distributes vehicles in over 26 nations to target customers, that include corporate fleets (i.e., utilities business), tool as well as tiny business (i.e., tiny handling facilities, farms, solar ranches, resorts, planned neighborhoods, etc), in addition to both state and also federal government fleets.

Cenntro has generated as well as supplied over 3,600 business electric vehicles because 2017 as well as its scalable, decentralized manufacturing model permits it to expand production without much of the associated facilities expenses utilizing its property light producing version. The firm intends to range manufacturing in the first quarter of 2022, through new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point accomplishment demonstrates that Cenntro is rapidly becoming a substantial gamer in the electrical industrial car market,” said Peter Wang, Chairman as well as Chief Executive Officer of Cenntro Electric Group “With the merger behind us as well as cash of $250 million, we are well positioned to build up our European operating facility in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will substantially increase assembly, sales as well as after-market service capacities for operations.

“In addition, the brand-new capital also allows Cenntro to increase our management team, core U.S. procedures, board of directors and also critical advisors to support and handle our quick growth. I am just as thrilled concerning our development currently in 2022 based on the interest we received at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile delivery and community solutions.

“Ultimately, we are undergoing lots of campaigns consisting of a re-branding of our public materials, new company governance, the visit of calculated experts as well as capitalist relationships to interact with key stakeholders as well as new financiers. We eagerly anticipate reviewing all those efforts and also milestones during our teleconference in April 2022 discussing our financial 2021 financial outcomes,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology company with advanced, market-validated electric commercial vehicles. Cenntro intends to lead the change in the automobile industry with scalable, decentralized manufacturing as well as fully digitalized independent driving options empowered by the Cenntro iChassis. Cenntro has generated and also delivered over 3,600 business EVs in greater than 26 nations. To find out more regarding the business, please check out www.cenntroauto.com.