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Cenntro Inc. develops and supplies electric commercial vehicles for fleet, municipal, last-mile delivery and other commercial applications. The company’s vehicle portfolio includes Logistar, Avantier, Metro, iChassis, Teemak, Bison Motor and Antric One models, with purpose-built offerings that include class 1 to class 4 trucks and electric buses.
Recurring developments for CENN include product launches and deliveries, customer orders, regional assembly and distribution partnerships, vehicle type approvals and EPA certification for hydrogen fuel cell vehicles such as the BM860H. Company updates also address Nasdaq listing compliance, reverse stock-split actions, supply-chain and manufacturing capabilities, and technology work involving batteries, powertrains and smart-driving systems.
Cenntro Electric Group Limited (NASDAQ: CENN) will host a conference call on April 25, 2022, at 5:00 p.m. Eastern time to discuss its financial results for the year ended December 31, 2021. The call will be led by CEO Peter Wang and CFO Edmond Cheng.
A press release detailing these financials will be available on the same date. Participants must register in advance to join the call, which will also be available for replay after 8:00 p.m. Eastern time through May 4, 2022.
Cenntro Electric Group (NASDAQ: CENN) has successfully acquired a 65% equity interest in Tropos Motors Europe GmbH (TME) for €3.25 million, along with assuming a €11.9 million shareholder loan. This acquisition enhances Cenntro's assembly and distribution capabilities in Europe, leveraging TME's established network of 50 dealers across 16 countries. The TME facility in Germany will now assemble Cenntro’s full vehicle line. The rebranding to Cenntro Automotive Europe GmbH aims to boost market presence and brand recognition across EMEA.
Cenntro Electric Group Limited (NASDAQ: CENN) has entered an agreement to acquire a 65% stake in Tropos Motors Europe GmbH for €3.25 million, in addition to assuming a €11.9 million shareholder loan from Mosolf SE & Co. KG. This strategic acquisition, expected to close in March 2022, enhances Cenntro's electric vehicle distribution and assembly capabilities across Europe, including a network of 50 dealers in Germany and 13 importers across Europe. This move is anticipated to significantly accelerate Cenntro's growth in the EMEA region, targeting increased market share in electric commercial vehicles.
Cenntro Electric Group Limited (NASDAQ: CENN) has announced its management team's participation in two investor conferences in March 2022. The 34th Annual ROTH Conference is scheduled for March 14-15, 2022, and the D.A. Davidson Inaugural EV & Energy Transition Virtual Conference will take place on March 22, 2022. Attendees will include CEO Peter Wang and CFO Edmond Cheng, who will be available for one-on-one meetings with institutional investors. The company aims to lead the transformation in electric vehicle production.
Cenntro Electric Group Limited (NASDAQ: CENN) will showcase its Logistar 400 at the Work Truck Show from March 8-11, 2022 in Indianapolis, IN. The LS 400 is designed for robust duty cycles, capable of handling last mile deliveries with a payload of 5,600 pounds and a range of 124 miles per charge. Cenntro is also sponsoring the Green Truck Summit, hosting a session on its green product updates. The company aims to lead the transformation to zero-emission vehicles, having sold over 3,600 ECVs globally.
Cenntro Electric Group (NASDAQ: CENN) achieved a record production milestone of 1,623 electric commercial vehicles (ECVs) in 2021, with the highest monthly production of 628 ECVs in December. The company reported a strong financial position, ending the year with $250 million in cash and no debt, supporting expansion plans in Dusseldorf, Germany and Jacksonville, Florida. Cenntro's product portfolio has expanded with the introduction of four new models, and it has distributed vehicles across 26 countries. A fiscal 2021 financial results update is expected in April 2022.