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

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

Business Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and Financial Toughness to Support Expansion of its European Operating Center in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

NASDAQ:NAKD, a leading EV modern technology business with advanced, market-validated electrical commercial automobiles, revealed today that it accomplished a record production landmark of 1,623 electrical industrial automobiles (ECV) for 2021 as well as experienced its highest possible quantity month of 628 ECV’s produced and also delivered in December 2021.

The Business likewise announced the introduction of 4 brand-new automobile designs during monetary 2021 as well as has gotten favorable responses from its European and also American channel companions as well as clients.

Cenntro’s product profile consists of Class 1– Class 4 automobiles in addition to off-road offerings as well as, via its network companion network, it currently distributes automobiles in over 26 nations to target customers, that include corporate fleets (i.e., energies firms), medium as well as small companies (i.e., tiny processing centers, ranches, solar ranches, hotels, intended areas, and so on), as well as both state and also federal government fleets.

Cenntro has actually produced as well as delivered over 3,600 business electric lorries considering that 2017 as well as its scalable, decentralized manufacturing model permits it to expand production without much of the associated facilities prices using its asset light making design. The firm intends to scale production in the very first quarter of 2022, with new facilities both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s milestone accomplishment demonstrates that Cenntro is promptly becoming a significant gamer in the electrical industrial lorry market,” stated Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merging behind us and also cash money of $250 million, we are well positioned to accumulate our European operating center in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will considerably increase setting up, sales as well as after-market solution abilities for procedures.

“Furthermore, the new resources likewise allows Cenntro to broaden our monitoring team, core U.S. procedures, board of directors and calculated advisors to support and manage our quick development. I am just as excited concerning our progress already in 2022 based on the passion we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery as well as local solutions.

“Lastly, we are undergoing lots of initiatives including a re-branding of our public materials, brand-new business governance, the appointment of strategic consultants as well as investor relations to connect with essential stakeholders as well as brand-new financiers. We eagerly anticipate reviewing all those initiatives and milestones throughout our teleconference in April 2022 discussing our financial 2021 economic results,” ended Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with innovative, market-validated electric commercial lorries. Cenntro intends to lead the improvement in the automotive industry through scalable, decentralized production and also completely digitalized self-governing driving options empowered by the Cenntro iChassis. Cenntro has actually produced and provided over 3,600 industrial EVs in more than 26 nations. To learn more concerning the firm, please visit www.cenntroauto.com.