Cenntro Electric Group Accomplishes Record Production Turning Point of 1,623 Electric Commercial Automobiles in 2021

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

Firm Finishes Fiscal 2021 with $250 Million in Money, No Financial Obligation as well as Financial Toughness to Support Growth of its European Operating Center in Dusseldorf, Germany and New Setting Up Plant in Jacksonville, Florida

NASDAQ:NAKD, a leading EV technology company with innovative, market-validated electric commercial cars, announced today that it achieved a record production landmark of 1,623 electrical industrial lorries (ECV) for 2021 as well as experienced its highest possible quantity month of 628 ECV’s created and shipped in December 2021.

The Company also announced the introduction of four brand-new lorry designs throughout fiscal 2021 and also has actually received desirable reactions from its European as well as American network companions as well as clients.

Cenntro’s item portfolio consists of Class 1– Course 4 vehicles in addition to off-road offerings and, with its network companion network, it presently distributes vehicles in over 26 nations to target clients, which include company fleets (i.e., utilities companies), medium and tiny business (i.e., small handling facilities, farms, solar farms, hotels, prepared neighborhoods, and so on), as well as both state and also federal government fleets.

Cenntro has produced and supplied over 3,600 commercial electrical automobiles considering that 2017 and also its scalable, decentralized manufacturing model enables it to grow manufacturing without much of the connected facilities prices utilizing its asset light manufacturing design. The firm intends to scale production in the very first quarter of 2022, via new centers both in Jacksonville, Florida and also Dusseldorf, Germany.

” Today’s turning point success demonstrates that Cenntro is promptly ending up being a substantial player in the electrical industrial automobile market,” said Peter Wang, Chairman and Ceo of Cenntro Electric Group “With the merger behind us and money of $250 million, we are well positioned to build up our European operating facility in Dusseldorf, Germany and setting up plant in Jacksonville, Florida, which will significantly enhance setting up, sales and also after-market service capacities for operations.

“Additionally, the new funding also allows Cenntro to expand our administration team, core united state procedures, board of directors as well as critical consultants to support and also manage our fast development. I am equally delighted concerning our progress already in 2022 based upon the passion we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment as well as community services.

“Ultimately, we are undergoing numerous campaigns including a re-branding of our public products, new business governance, the appointment of calculated advisors and capitalist connections to communicate with vital stakeholders and new investors. We anticipate reviewing all those initiatives as well as turning points during our teleconference in April 2022 discussing our fiscal 2021 monetary outcomes,” concluded Wang.

Concerning Cenntro Electric Group.

Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with advanced, market-validated electrical industrial cars. Cenntro plans to lead the makeover in the vehicle industry with scalable, decentralized manufacturing and completely digitalized self-governing driving remedies encouraged by the Cenntro iChassis. Cenntro has produced as well as delivered over 3,600 business EVs in more than 26 countries. To learn more about the company, please see www.cenntroauto.com.