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

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

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV innovation firm with advanced, market-validated electric industrial cars, announced today that it achieved a document manufacturing turning point of 1,623 electrical commercial vehicles (ECV) for 2021 and experienced its highest volume month of 628 ECV’s generated as well as shipped in December 2021.

The Company additionally revealed the intro of four brand-new lorry designs throughout monetary 2021 and also has actually received positive responses from its European and also American network companions and consumers.

Cenntro’s item portfolio includes Class 1– Class 4 automobiles along with off-road offerings as well as, via its network partner network, it currently distributes lorries in over 26 nations to target consumers, that include company fleets (i.e., utilities business), medium and little business (i.e., tiny handling centers, ranches, solar ranches, hotels, planned areas, etc), in addition to both state and also federal government fleets.

Cenntro has actually generated as well as supplied over 3,600 commercial electrical cars since 2017 as well as its scalable, decentralized production design allows it to expand manufacturing without a lot of the connected facilities expenses utilizing its asset light making version. The firm intends to range manufacturing in the very first quarter of 2022, via brand-new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s landmark accomplishment demonstrates that Cenntro is promptly becoming a substantial gamer in the electric commercial lorry market,” said Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merger behind us and money of $250 million, we are well placed to accumulate our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will significantly enhance assembly, sales and after-market solution capabilities for procedures.

“Additionally, the new capital likewise allows Cenntro to expand our monitoring team, core U.S. operations, board of supervisors and calculated consultants to sustain and also handle our rapid development. I am equally thrilled about our progress already in 2022 based on the rate of interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery and also metropolitan services.

“Lastly, we are undertaking several efforts including a re-branding of our public products, new business governance, the appointment of strategic consultants and also investor connections to communicate with vital stakeholders as well as brand-new investors. We anticipate assessing all those initiatives and turning points during our teleconference in April 2022 reviewing our fiscal 2021 financial outcomes,” wrapped up Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation company with sophisticated, market-validated electric business automobiles. Cenntro intends to lead the improvement in the auto market with scalable, decentralized manufacturing and also totally digitalized autonomous driving options encouraged by the Cenntro iChassis. Cenntro has actually produced as well as provided over 3,600 industrial EVs in greater than 26 countries. For more information concerning the firm, please check out www.cenntroauto.com.