Cenntro Electric Group Ltd (CENN)

[ErnieBilco]

Cenntro Begins Production at New Jacksonville, Florida Assembly Facility of Electric Commercial Trucks
100,000 sq. ft. facility to Assemble LS400, Teemak and Metro Models for US Southern Region

FREEHOLD, N.J.--(BUSINESS WIRE)-- Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the start of production of the LS400, Teemak and Metro electric commercial trucks at the Company’s new assembly facility in Jacksonville, FL.

Operations at the facility will include electric vehicle assembly, upfitting, and pre-delivery inspections. The new facility joins the recently expanded assembly facility in Howell, NJ.

Vehicles assembled at the Jacksonville facility are predominantly for the Southeastern region of the US and for the Central American region. Cenntro expects to begin delivery of vehicles assembled at the Jacksonville facility to customers next month.

“After more than 15 months of facility renovation, assembly line preparation, and local regulatory compliances, the Jacksonville facility has begun assembly,” said Peter Wang, Chairman and CEO. “The vehicles assembled in Jacksonville will meet the strong market demand for our electric commercial vehicles in the region. With the capability to accommodate the LS400, Teemak and Metro electric commercial trucks we are well positioned to capture US market share in the years ahead.

“Cenntro now has established production and assembly at 5 facilities globally, in addition to EV centers in the U.S., Poland, Germany, Spain, Morocco and the Dominican Republic to support large-scale deployment and align with its go-to-market strategy for new growth.

“It is not an easy task to set up this local assembly capability, and I have to thank our staff, the local government, construction companies, and our partners for their dedication and endless efforts especially through this tough time with the Covid pandemic and supply shortage,” concluded Wang.