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

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

Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV modern technology company with sophisticated, market-validated electric business cars, introduced today that it accomplished a record manufacturing milestone of 1,623 electrical business automobiles (ECV) for 2021 and experienced its highest possible volume month of 628 ECV’s generated and also delivered in December 2021.

The Company additionally revealed the introduction of 4 new vehicle models during financial 2021 and also has received positive reactions from its European and also American network partners and customers.

Cenntro’s product portfolio includes Course 1– Course 4 vehicles in addition to off-road offerings and also, via its network partner network, it currently disperses lorries in over 26 countries to target clients, that include corporate fleets (i.e., energies business), tool as well as little companies (i.e., tiny processing centers, ranches, solar ranches, hotels, intended areas, etc), in addition to both state as well as federal government fleets.

Cenntro has actually generated and provided over 3,600 commercial electric vehicles because 2017 and its scalable, decentralized production version permits it to expand manufacturing without most of the linked infrastructure costs utilizing its property light manufacturing design. The company prepares to range manufacturing in the very first quarter of 2022, with new facilities both in Jacksonville, Florida and Dusseldorf, Germany.

” Today’s milestone accomplishment shows that Cenntro is swiftly becoming a substantial gamer in the electrical commercial vehicle market,” said Peter Wang, Chairman as well as President of Cenntro Electric Group “With the merging behind us and also money of $250 million, we are well positioned to build up our European operating center in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will substantially enhance setting up, sales and also after-market service capacities for operations.

“Furthermore, the new resources additionally enables Cenntro to expand our administration group, core U.S. procedures, board of directors as well as tactical experts to sustain as well as handle our fast growth. I am equally delighted about our progression currently in 2022 based on the rate of interest we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment as well as community solutions.

“Lastly, we are undergoing several efforts including a re-branding of our public products, new business administration, the visit of critical advisors as well as financier connections to connect with essential stakeholders as well as brand-new capitalists. We eagerly anticipate assessing all those campaigns as well as landmarks during our teleconference in April 2022 discussing our fiscal 2021 monetary results,” wrapped up Wang.

Regarding Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation business with advanced, market-validated electrical commercial vehicles. Cenntro intends to lead the improvement in the auto market through scalable, decentralized production and completely digitalized autonomous driving services equipped by the Cenntro iChassis. Cenntro has created as well as provided over 3,600 industrial EVs in more than 26 nations. For more information regarding the company, please go to www.cenntroauto.com.