628 ECV’s Produced in December 2021 Represents Highest Volume in a Single Month
Company Finishes Fiscal 2021 with $250 Million in Cash Money, No Debt as well as Financial Toughness to Assistance Expansion of its European Operating Center in Dusseldorf, Germany and also New Setting Up Plant in Jacksonville, Florida
Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology business with advanced, market-validated electric business cars, revealed today that it accomplished a document production milestone of 1,623 electric commercial vehicles (ECV) for 2021 and experienced its highest possible quantity month of 628 ECV’s generated and also delivered in December 2021.
The Business also introduced the introduction of 4 brand-new vehicle models throughout monetary 2021 and also has actually received favorable responses from its European and American network partners as well as consumers.
Cenntro’s product portfolio consists of Class 1– Course 4 vehicles in addition to off-road offerings as well as, via its channel partner network, it presently disperses lorries in over 26 countries to target consumers, that include company fleets (i.e., utilities companies), medium and also little firms (i.e., tiny processing facilities, farms, solar farms, resorts, planned communities, etc), in addition to both state and also federal government fleets.
Cenntro has actually created and also supplied over 3,600 industrial electric automobiles because 2017 as well as its scalable, decentralized production design permits it to expand manufacturing without much of the linked facilities costs using its possession light manufacturing design. The business prepares to scale manufacturing in the first quarter of 2022, via brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.
” Today’s landmark achievement shows that Cenntro is quickly becoming a significant gamer in the electrical business lorry market,” stated Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merger behind us and also cash money of $250 million, we are well positioned to develop our European operating facility in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will considerably boost setting up, sales as well as after-market service abilities for operations.
“In addition, the brand-new funding also permits Cenntro to broaden our management team, core united state procedures, board of supervisors and also calculated experts to support and also handle our quick development. I am similarly thrilled about our development currently in 2022 based upon the interest we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile delivery as well as municipal services.
“Ultimately, we are undergoing several campaigns consisting of a re-branding of our public products, new company governance, the visit of tactical advisors and also capitalist connections to communicate with crucial stakeholders and also new financiers. We eagerly anticipate reviewing all those efforts as well as milestones during our teleconference in April 2022 reviewing our fiscal 2021 economic outcomes,” wrapped up Wang.
About Cenntro Electric Group.
Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology business with innovative, market-validated electric business cars. Cenntro prepares to lead the makeover in the auto industry with scalable, decentralized production and completely digitalized independent driving remedies empowered by the Cenntro iChassis. Cenntro has created and delivered over 3,600 commercial EVs in greater than 26 nations. For additional information about the company, please check out www.cenntroauto.com.
