Cenntro Electric Group Accomplishes Record Manufacturing Milestone of 1,623 Electric Commercial Autos in 2021
February 26, 2022
628 ECV’s Generated in December 2021 Represents Highest Quantity in a Single Month
Company Finishes Fiscal 2021 with $250 Million in Cash, No Financial Obligation and also Financial Toughness to Support Expansion of its European Operating Center in Dusseldorf, Germany and New Assembly Plant in Jacksonville, Florida
NASDAQ: CENN, a leading EV modern technology business with innovative, market-validated electric industrial automobiles, introduced today that it attained a record manufacturing landmark of 1,623 electrical commercial cars (ECV) for 2021 as well as experienced its highest volume month of 628 ECV’s generated and also delivered in December 2021.
The Company likewise revealed the introduction of four new automobile versions during financial 2021 and also has gotten favorable reactions from its European and American channel companions and also customers.
Cenntro’s product portfolio includes Class 1– Course 4 cars in addition to off-road offerings and also, through its channel companion network, it currently distributes vehicles in over 26 nations to target customers, that include business fleets (i.e., energies companies), tool and tiny firms (i.e., small handling centers, ranches, solar ranches, hotels, intended neighborhoods, etc), in addition to both state and also federal government fleets.
Cenntro has actually generated as well as supplied over 3,600 industrial electrical lorries because 2017 and its scalable, decentralized production design permits it to expand manufacturing without much of the connected facilities costs using its asset light producing design. The company prepares to range production in the very first quarter of 2022, via brand-new centers both in Jacksonville, Florida and Dusseldorf, Germany.
” Today’s landmark accomplishment demonstrates that Cenntro is promptly becoming a significant gamer in the electric business vehicle market,” stated Peter Wang, Chairman and Chief Executive Officer of Cenntro Electric Group “With the merger behind us as well as cash money of $250 million, we are well placed to accumulate our European operating center in Dusseldorf, Germany as well as setting up plant in Jacksonville, Florida, which will considerably increase assembly, sales and after-market service abilities for procedures.
“Additionally, the new resources also allows Cenntro to expand our monitoring group, core united state operations, board of directors as well as tactical advisors to support and manage our quick growth. I am similarly delighted regarding our progress currently in 2022 based upon the rate of interest we obtained at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile distribution and community services.
“Lastly, we are undertaking many campaigns including a re-branding of our public products, new business administration, the appointment of critical consultants and capitalist relationships to connect with vital stakeholders and brand-new capitalists. We anticipate reviewing all those initiatives as well as milestones throughout our conference call in April 2022 reviewing our financial 2021 economic results,” wrapped up Wang.
Regarding Cenntro Electric Group.
Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with sophisticated, market-validated electrical business vehicles. Cenntro plans to lead the improvement in the automobile sector through scalable, decentralized production and also fully digitalized autonomous driving solutions encouraged by the Cenntro iChassis. Cenntro has actually produced as well as supplied over 3,600 business EVs in greater than 26 nations. For more details about the company, please check out www.cenntroauto.com.