Welcome to our dedicated page for Cenntro news (Ticker: CENN), a resource for investors and traders seeking the latest updates and insights on Cenntro stock.
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) announced it received a notification from Nasdaq on December 22, 2022, stating it no longer meets the minimum bid price requirement of $1.00 per share, having traded below this threshold for 30 consecutive business days. The company has a 180-day grace period until June 20, 2023, to achieve compliance. If compliance is not regained, Cenntro may qualify for an additional grace period or could face potential delisting. The company aims to monitor its share price during this period to regain compliance.
Cenntro Electric Group Limited (NASDAQ: CENN) announced that its all-electric Class 4 Logistar 400 (LS400) model has received a Certificate of Conformity from the U.S. Environmental Protection Agency (EPA). This certificate confirms that the LS400 meets current EPA regulations and emission standards. The LS400 is designed for various applications, featuring a maximum payload of 7,456 pounds, a top speed of 62 mph, and an 84-mile range per charge. Cenntro aims to meet additional federal requirements for U.S. deliveries and will showcase the LS400 at upcoming trade shows.
Cenntro Electric Group Limited (NASDAQ: CENN) has commenced early shipments of its all-electric commercial vehicles, the Logistar 260 (LS260) and Logistar 100 (LS100), to European markets. The deliveries, ahead of the planned Q1 2023 target, showcase the company’s growing response from European customers. The LS260 features a range of up to 167 miles and a payload of 2,821 lbs, while the LS100 has a 100-mile range and 157 lbs of payload. Both vehicles have received EU type approvals, allowing sales across member states.
Cenntro Electric Group Limited (NASDAQ: CENN) has announced the launch of the Logistar 300 (LS300), a new all-electric commercial van and truck, set to debut at the 2023 Consumer Electronics Show in Las Vegas from January 5-8. The LS300 features a 118kWh lithium iron phosphate battery, reaching a maximum speed of 75 mph and a range of 273 miles. Production will occur at its Jacksonville, FL, and Freehold, NJ facilities, with distribution targeted for Q3 2023. This addition strengthens Cenntro's lineup for last-mile delivery, following their previous models.
Cenntro Electric Group Limited (NASDAQ: CENN) will unveil its Logimax H864, a hydrogen-powered Class 8 Semi Tractor, at the 2023 CES in Las Vegas from January 5-8. This marks Cenntro's first hydrogen fuel cell vehicle and heavy-duty truck. Weighing 25 tons, the LMH864 is suitable for short- and long-haul applications, utilizing sustainable hydrogen fuel cells to produce only water as a byproduct. Expected availability is in Q3 2023 in North America and Europe, catering to the demand for zero-emission logistics.
Cenntro Electric Group Limited (NASDAQ: CENN) has launched six new EV Centers in Spain, Italy, Poland, Turkey, Morocco, and the Dominican Republic, expanding its global distribution system. These centers support sales, deliveries, and after-market services and integrate a cloud-based parts distribution system for efficient operation. The CEO, Peter Wang, emphasized that these centers are critical for scaling operations, reducing logistics costs, and minimizing downtime for customers. This move signals Cenntro's commitment to growing its electric vehicle market share and enhancing customer service.
Cenntro Electric Group Limited (NASDAQ: CENN) will debut its production iChassis at CES 2023 on January 4. This event, held in Las Vegas from January 5-8, showcases innovative electric commercial vehicles designed for urban logistics and zero-emission applications. The iChassis allows for automated driving and is expected to drive new applications in commercial sectors. Investor meetings will be conducted at Booth 5840, featuring a complete range of Cenntro's electric vehicle line.
Cenntro Electric Group Limited (NASDAQ: CENN) has completed the construction of a 10,436 square meter facility for its U.S. subsidiary, Cennatic Power Inc., which will produce advanced lithium-ion batteries for electric commercial vehicles. The facility in Monterrey, Mexico, is set to begin trial production in the first half of 2023, aiming to reduce dependency on foreign supply chains. This initiative aligns with the new Inflation Reduction Act, potentially qualifying Cenntro's EVs for tax credits. The technology promises enhanced battery performance and cost efficiencies.
Cenntro Electric Group Limited (NASDAQ: CENN) has announced the completion of its production transition at its Herne, Germany facility following its acquisition of Cenntro Automotive Europe. The facility has started assembly of the Metro and TeeMak models, expanding its manufacturing capabilities. Cenntro has also launched two new vehicle models, the Logistar 100 and Logistar 260, and begun deliveries of the Logistar 200 across Europe. This strategic move aligns with market demands, aiming to enhance capacity and customer service.
Cenntro Electric Group Limited (NASDAQ: CENN) has begun shipping its Logistar 200 (LS200), a multi-purpose light electric commercial vehicle, to European markets. Over 170 vehicles have already been sold and delivered. The LS200, designed for urban delivery, has a one-ton payload and 247 cubic feet of cargo space. CEO Peter Wang expressed satisfaction with the positive market reception and aims to enhance sales and service infrastructure amidst supply chain challenges. This launch supports Cenntro's commitment to zero-emission vehicles and expanding its electric commercial vehicle portfolio.