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Cenntro Inc (CENN) news hub provides investors and industry professionals with centralized access to official announcements and strategic developments from this innovative electric commercial vehicle manufacturer. Track all corporate updates through verified press releases and market-moving news related to Cenntro's emission-free transportation solutions.
This resource aggregates essential information including product launch announcements, strategic partnerships, and operational expansions across Cenntro's global markets. Users gain timely insights into the company's Metro, Logistar, and Neibor vehicle lines while monitoring progress in sustainable automotive technology.
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Cenntro Electric Group Limited (NASDAQ: CENN) has acquired a 474,000 square foot manufacturing facility in Changxing, China, for $19.5 million. This acquisition aims to enhance production capacity, targeting an annual output of 50,000 vehicles once operational. The facility, built in 2018, is expected to bolster Cenntro's manufacturing capabilities and assist in obtaining ISO 9000 certification. The trial production is projected to start in Q3 2022, aligning with the company's expansion into new markets.
Cenntro Electric Group Limited (CENN) has formed an alliance with Nuvve Holding Corp. (NVVE) to provide a comprehensive electrification solution for commercial fleets. This collaboration was announced at the Advanced Clean Transportation Expo and aims to simplify the transition to electric vehicles (EVs) by offering bundled Nuvve charging packages alongside Cenntro's U.S. product lineup. The partnership will integrate Cenntro vehicles into Nuvve's Electric Vehicle Charging Infrastructure Hub, enhancing fleet efficiency and supporting grid stability through vehicle-to-grid (V2G) capabilities.
Cenntro Electric Group Limited (NASDAQ: CENN) will showcase its all-electric Logistar™ 400 (LS400) at the Advanced Clean Transportation Expo from May 9-12, 2022, in Long Beach, California. The LS400 is designed for urban delivery and freight, appealing to courier services and upfitters. The exhibit will provide opportunities for test drives, enhancing engagement with potential customers. Management will also hold one-on-one meetings with analysts and investors during the event to discuss company developments and future strategies.
Cenntro Electric Group Limited (NASDAQ: CENN) will hold its Annual General Meeting on
Cenntro Electric Group Limited (NASDAQ: CENN) reported a 57.1% increase in net revenue for 2021, reaching $8.6 million compared to $5.5 million in 2020. The company sold 918 electric vehicles, marking a 30% rise from the previous year. Gross profit soared 164% to $1.5 million with a gross margin of 17.5%. However, the company faced increased operating expenses of $18 million, leading to a net loss of $16.4 million. As of December 31, 2021, cash reserves stood at $261.1 million.
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
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.