Cenntro Electric Group Achieves Document Manufacturing Landmark of 1,623 Electric Commercial Automobiles in 2021

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

Firm Finishes Fiscal 2021 with $250 Million in Money, No Financial Debt and Financial Strength to Support Development of its European Operating Center in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

NASDAQ: CENN, a leading EV technology company with innovative, market-validated electrical commercial cars, announced today that it accomplished a record production milestone of 1,623 electric business vehicles (ECV) for 2021 and experienced its highest quantity month of 628 ECV’s generated as well as shipped in December 2021.

The Firm also revealed the intro of 4 brand-new vehicle designs throughout financial 2021 as well as has gotten favorable reactions from its European and American network companions and customers.

Cenntro’s item profile includes Class 1– Course 4 automobiles in addition to off-road offerings and, via its network partner network, it presently disperses vehicles in over 26 countries to target consumers, which include business fleets (i.e., utilities firms), tool and also little firms (i.e., small handling centers, farms, solar farms, hotels, intended neighborhoods, etc), as well as both state as well as federal government fleets.

Cenntro has produced and delivered over 3,600 industrial electrical automobiles given that 2017 as well as its scalable, decentralized production model enables it to grow production without much of the linked infrastructure prices using its property light making design. The business intends to scale production in the initial quarter of 2022, with brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s turning point success shows that Cenntro is quickly ending up being a substantial player in the electrical industrial automobile market,” claimed Peter Wang, Chairman and also President of Cenntro Electric Group “With the merger behind us and also cash money of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany as well as assembly plant in Jacksonville, Florida, which will considerably enhance setting up, sales as well as after-market service abilities for operations.

“Furthermore, the new capital also allows Cenntro to increase our administration group, core united state procedures, board of supervisors and calculated consultants to support as well as manage our fast growth. I am just as delighted about our progress already in 2022 based on the interest we got at CES 2022 after revealing Cenntro’s iChassis skateboard for last mile distribution as well as local services.

“Ultimately, we are going through numerous initiatives consisting of a re-branding of our public materials, brand-new corporate administration, the consultation of calculated experts and also capitalist relations to interact with essential stakeholders as well as brand-new investors. We anticipate assessing all those campaigns as well as landmarks during our teleconference in April 2022 reviewing our monetary 2021 economic outcomes,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with advanced, market-validated electrical business vehicles. Cenntro prepares to lead the change in the auto sector through scalable, decentralized production and totally digitalized autonomous driving solutions equipped by the Cenntro iChassis. Cenntro has created and also supplied over 3,600 commercial EVs in more than 26 countries. To find out more about the firm, please visit www.cenntroauto.com.