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

Company Finishes Fiscal 2021 with $250 Million in Money, No Debt and Financial Toughness to Assistance Development of its European Operating Facility in Dusseldorf, Germany and New Assembly Plant in Jacksonville, Florida

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV modern technology company with innovative, market-validated electrical industrial vehicles, revealed today that it achieved a record production milestone of 1,623 electrical industrial cars (ECV) for 2021 and also experienced its highest quantity month of 628 ECV’s produced and also delivered in December 2021.

The Company likewise announced the introduction of 4 brand-new vehicle designs throughout financial 2021 and has actually received beneficial responses from its European as well as American network companions and consumers.

Cenntro’s item profile includes Course 1– Class 4 automobiles in addition to off-road offerings and also, through its channel companion network, it presently disperses lorries in over 26 nations to target consumers, which include company fleets (i.e., utilities business), tool and also tiny business (i.e., tiny handling facilities, ranches, solar ranches, hotels, intended communities, and so on), along with both state and federal government fleets.

Cenntro has actually produced and supplied over 3,600 business electric lorries considering that 2017 and its scalable, decentralized manufacturing design enables it to grow production without most of the associated facilities prices utilizing its asset light producing design. The firm plans to scale production in the very first quarter of 2022, through new centers both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s landmark accomplishment shows that Cenntro is rapidly ending up being a considerable player in the electrical industrial car market,” said Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merger behind us and cash 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 boost assembly, sales and also after-market service capabilities for procedures.

“Moreover, the brand-new resources also enables Cenntro to broaden our administration group, core U.S. operations, board of supervisors and calculated advisors to sustain and handle our quick development. I am similarly excited regarding our progression already in 2022 based on the passion we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery and also community services.

“Finally, we are going through numerous efforts consisting of a re-branding of our public materials, brand-new corporate governance, the consultation of strategic consultants and also financier connections to connect with crucial stakeholders as well as new financiers. We eagerly anticipate examining all those efforts as well as milestones during our teleconference in April 2022 discussing our fiscal 2021 economic outcomes,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation firm with innovative, market-validated electric commercial automobiles. Cenntro plans to lead the improvement in the automotive market with scalable, decentralized production as well as fully digitalized autonomous driving options equipped by the Cenntro iChassis. Cenntro has generated and also provided over 3,600 commercial EVs in greater than 26 countries. To learn more about the company, please check out www.cenntroauto.com.