628 ECV’s Generated in December 2021 Represents Highest Quantity in a Solitary Month
Company Finishes Fiscal 2021 with $250 Million in Cash Money, No Debt and also Financial Toughness to Support Expansion of its European Operating Center in Dusseldorf, Germany as well as New Assembly Plant in Jacksonville, Florida
Cenntro Electric Group Limited (NASDAQ:NAKD), a leading EV modern technology business with advanced, market-validated electric business automobiles, revealed today that it accomplished a document production landmark of 1,623 electrical commercial cars (ECV) for 2021 and also experienced its highest volume month of 628 ECV’s produced and also delivered in December 2021.
The Business also announced the intro of 4 new car models throughout financial 2021 and also has gotten positive responses from its European and American channel partners and also customers.
Cenntro’s product profile consists of Class 1– Course 4 cars along with off-road offerings as well as, via its channel companion network, it presently distributes vehicles in over 26 nations to target consumers, that include company fleets (i.e., utilities companies), tool as well as small business (i.e., little handling facilities, ranches, solar ranches, resorts, prepared communities, and so on), in addition to both state and federal government fleets.
Cenntro has actually produced and provided over 3,600 industrial electrical automobiles considering that 2017 and its scalable, decentralized production version permits it to expand manufacturing without many of the associated facilities expenses utilizing its asset light manufacturing version. The business prepares to scale production in the first quarter of 2022, through new centers both in Jacksonville, Florida as well as Dusseldorf, Germany.
” Today’s milestone success shows that Cenntro is quickly coming to be a considerable player in the electrical commercial vehicle market,” claimed Peter Wang, Chairman and also Chief Executive Officer of Cenntro Electric Group “With the merging behind us and 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 raise assembly, sales and after-market solution abilities for operations.
“Furthermore, the brand-new resources likewise enables Cenntro to expand our monitoring team, core united state operations, board of directors as well as strategic experts to support as well as manage our quick growth. I am similarly thrilled concerning our development already in 2022 based on the interest we got at CES 2022 after unveiling Cenntro’s iChassis skateboard for last mile shipment as well as metropolitan services.
“Ultimately, we are undergoing lots of campaigns consisting of a re-branding of our public materials, brand-new corporate governance, the appointment of calculated consultants as well as investor connections to connect with key stakeholders as well as brand-new financiers. We expect reviewing all those initiatives and also turning points throughout our conference call in April 2022 discussing our fiscal 2021 financial outcomes,” concluded Wang.
About Cenntro Electric Group.
Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology firm with advanced, market-validated electrical industrial vehicles. Cenntro intends to lead the improvement in the auto sector with scalable, decentralized manufacturing as well as totally digitalized independent driving services empowered by the Cenntro iChassis. Cenntro has actually created as well as delivered over 3,600 business EVs in greater than 26 nations. For more details concerning the company, please see www.cenntroauto.com.
