June 30, 2022

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 Obligation and also Financial Toughness to Assistance Growth of its European Operating Facility in Dusseldorf, Germany and also New Assembly Plant in Jacksonville, Florida

NASDAQ:NAKD, a leading EV modern technology business with advanced, market-validated electrical commercial lorries, revealed today that it achieved a document production turning point of 1,623 electrical business lorries (ECV) for 2021 as well as experienced its greatest volume month of 628 ECV’s generated and delivered in December 2021.

The Company additionally introduced the introduction of four brand-new lorry designs throughout monetary 2021 as well as has actually obtained beneficial responses from its European and American channel partners as well as consumers.

Cenntro’s product portfolio consists of Class 1– Class 4 vehicles along with off-road offerings and also, with its network partner network, it currently disperses vehicles in over 26 nations to target clients, that include business fleets (i.e., utilities companies), medium as well as little firms (i.e., little handling centers, ranches, solar ranches, resorts, planned neighborhoods, and so on), in addition to both state and federal government fleets.

Cenntro has actually produced and delivered over 3,600 business electric vehicles given that 2017 as well as its scalable, decentralized production design enables it to expand production without a lot of the associated facilities costs utilizing its asset light manufacturing version. The business plans to range manufacturing in the first quarter of 2022, with brand-new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point success shows that Cenntro is rapidly becoming a significant gamer in the electric commercial automobile market,” said Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merger behind us as well as money of $250 million, we are well placed to develop our European operating center in Dusseldorf, Germany and also assembly plant in Jacksonville, Florida, which will significantly increase setting up, sales as well as after-market service capacities for operations.

“Additionally, the new resources also allows Cenntro to broaden our monitoring group, core united state operations, board of directors and also calculated consultants to sustain and also manage our fast development. I am just as excited regarding our progression already in 2022 based upon the interest we received at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution and also local services.

“Ultimately, we are undertaking many efforts consisting of a re-branding of our public products, new business administration, the appointment of tactical advisors and also capitalist relationships to communicate with vital stakeholders and also brand-new financiers. We expect assessing all those campaigns as well as turning points during our teleconference in April 2022 discussing our monetary 2021 economic results,” concluded Wang.

About Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV modern technology firm with advanced, market-validated electrical business lorries. Cenntro intends to lead the makeover in the auto industry through scalable, decentralized production as well as fully digitalized independent driving solutions equipped by the Cenntro iChassis. Cenntro has actually created and also provided over 3,600 commercial EVs in greater than 26 countries. For more details regarding the company, please check out www.cenntroauto.com.