Cenntro Receives Order for 2,000 Metro Electric Commercial Vehicles in Japan End Customers Include Amazon Fleet and Hana Cupid

Post to Reddit
Do NOT follow this link!

Recently Approved Kei Car Type Order Represents Major Milestone for Sales in Japan

FREEHOLD, N.J., Nov. 29, 2021 (GLOBE NEWSWIRE) --  Cenntro Automotive (“Cenntro”, the “Company” or “We”), a leading EV technology company with advanced, market-validated commercial vehicles, today announced it has received an order of 2,000 Metro (Kei Car Type) electric vehicles from its channel partner in Japan, HW ELECTRO, with deliveries expected to begin in January 2022.

The order follows the recent announcement of Cenntro’s Metro receiving Kei car approval as the first imported, non-Japanese made, all-electric commercial vehicle. The Metro order will be deployed to support last-mile delivery and logistics companies including Amazon Fleet, Amazon’s local delivery partner in Japan, and Hana Cupid, Japan’s largest floral gifting association. Amazon Fleet is currently supported by 2,000 dedicated vehicles in Tokyo and Hana Cupid has a network of 4,500 member stores in Japan.

“HW ELECTRO has established deep relationships with renowned companies in Japan’s transportation and logistics sector. They are an excellent strategic partner to introduce our vehicles throughout the country,” said Peter Wang, Cenntro's Chairman and Chief Executive Officer. “This purchase order represents a significant milestone for Cenntro in Japan, one of our key strategic markets. Japan has historically been a bellwether for new transportation and logistics trends and the initial order for 2,000 vehicles for end customers like Tokyo’s Amazon Fleet and Hana Cupid represents a significant market opportunity. The approval of Cenntro’s Metro electric Kei car ahead of local brands provides us a substantial advantage in the growing last-mile delivery sector in Japan. We expect continued strong interest in the Metro and growing sales momentum ahead.”

HW ELECTRO was an early advocate for "Electric-Mobility-Innovation" in Japan and through its partnership with Autobacs, a leading Japanese vehicle dealership, the firm is confident the Metro, locally called the ELEMO-K, will lead fleets to further integrate EVs into their operations.

About Cenntro Automotive Group

A leading EV technology company with advanced, market-validated commercial vehicles, which has entered into a definitive merger agreement with Naked Brand Group Limited (NASDAQ: NAKD) with Cenntro’s shareholders to own approximately 70% of the combined entity on a fully-diluted basis. Cenntro leads the transformation in the automotive industry through scalable, decentralized production and fully digitalized autonomous driving solutions empowered by the Cenntro iChassis. Cenntro has sold and delivered 3300 commercial EVs in more than 26 countries as of Dec 2020. For more information about the company, please visit www.cenntroauto.com.

For further information:

Investor Contact

IR@cenntroauto.com

Media Contact

PR@cenntroauto.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b33482a1-0309-40cf-9aee-20861ae9d961
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd72f23a-bf47-40a6-8e22-981209d29555


View source version on GlobeNewswire.com