Cenntro Electric Group Achieves Document Production Turning Point of 1,623 Electric Commercial Vehicles in 2021

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

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

NASDAQ:NAKD, a leading EV technology business with sophisticated, market-validated electric business vehicles, revealed today that it achieved a document manufacturing turning point of 1,623 electrical business cars (ECV) for 2021 and experienced its greatest quantity month of 628 ECV’s generated as well as shipped in December 2021.

The Business also revealed the introduction of four brand-new lorry versions during monetary 2021 and has actually received positive responses from its European and American network partners and also clients.

Cenntro’s item portfolio consists of Class 1– Class 4 lorries in addition to off-road offerings and also, through its channel partner network, it currently disperses automobiles in over 26 nations to target consumers, which include business fleets (i.e., utilities business), tool as well as little firms (i.e., tiny processing facilities, farms, solar farms, resorts, intended neighborhoods, and so on), in addition to both state and also federal government fleets.

Cenntro has actually generated and delivered over 3,600 commercial electrical automobiles considering that 2017 and its scalable, decentralized production version allows it to grow production without a number of the associated facilities expenses using its asset light producing model. The business prepares to scale manufacturing in the very first quarter of 2022, through brand-new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.

” Today’s turning point accomplishment demonstrates that Cenntro is quickly becoming a considerable player in the electrical business automobile market,” said Peter Wang, Chairman and also President of Cenntro Electric Group “With the merger behind us and also 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 enhance assembly, sales and after-market service abilities for operations.

“Furthermore, the new capital additionally permits Cenntro to broaden our monitoring group, core U.S. procedures, board of supervisors as well as critical consultants to support as well as handle our quick development. I am equally thrilled regarding our progress already in 2022 based upon the rate of interest we received at CES 2022 after introducing Cenntro’s iChassis skateboard for last mile shipment as well as municipal services.

“Ultimately, we are undertaking lots of initiatives consisting of a re-branding of our public products, brand-new company administration, the visit of calculated experts and capitalist connections to interact with crucial stakeholders and brand-new capitalists. We look forward to evaluating all those initiatives and also turning points throughout our conference call in April 2022 reviewing our monetary 2021 financial results,” wrapped up Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV innovation business with innovative, market-validated electric commercial cars. Cenntro prepares to lead the improvement in the automobile industry via scalable, decentralized production as well as fully digitalized autonomous driving options empowered by the Cenntro iChassis. Cenntro has actually produced and delivered over 3,600 commercial EVs in greater than 26 nations. For more details concerning the business, please visit www.cenntroauto.com.