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Thursday, June 1, 2023

Cenntro Electric Group Ltd (NASDAQ: CENN) Ramps Up Production of Exciting Line of Electric Vehicles EVs (Metro, Teemak, LM864H, and Logistar)

Cenntro Electric Group Ltd (NASDAQ: CENN) is an exciting EV Company trading just over its all-time lows of $0.26 that has a lot of good things going for it including over $200 million cash in the treasury, virtually no debt, production of its own batteries and vehicles currently ramping up and a really exciting line of EV’s including the Metro which is already a big seller and the Teemak™, a really cool off-road electric EV. Cenntro has sold or put into service more than 3,700 vehicles in over 25 countries across North America, Europe, and Asia.  

While institutional ownership in CENN continues to increase the shorts continue to increase their positions too. Cenntro is currently late on its 10k and has received written notice from Nasdaq, they also need to get the price back over $1 to meet minimum listing requirements. CENN does have an enormous investors base who continues to support the stock, accumulating more at current levels who see a really bright future for Cenntro and its stock price. We will be updating on CENN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

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Cenntro Electric Group Ltd (NASDAQ: CENN) operating out of Freehold, New Jersey is a leading designer and manufacturer of electric commercial vehicles. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. Cenntro is led by Peter Wang, a visionary entrepreneur who was recognized as an outstanding Asian American businessman, Peter co-founded UTStarcom in 1991, one of largest Telecom solution providers in Asia at the time of company formation. 

Cenntro began pilot production of its first-generation, U.S. Class 1 (0-6,000 lbs.), electric light-duty commercial vehicle, the Metro®, in 2018. The Metro® is a customizable ECV used in commercial applications such as city services (i.e., street cleaners, firetrucks, food trucks and garbage trucks) and last-mile delivery. With its developed supply chain, relationships with component vendors, the Company’s channel partner network, and its growing manufacturing capacity through new facilities, Cenntro believes it is in position for larger scale production and distribution of the Metro®.  

Centro also developed the Teemak™, an off-road electric commercial vehicle with essentially no homologation requirements in the United States and limited certification requirements, and Logistar™ 200, which is a European Union N1 Class electric commercial vehicle designed to meet the European Union’s city delivery and city service requirements. The Teemak™ first became commercially available in the United States in December 2021. The Logistar™ 200 was homologated in the European Union in January 2022 and first became commercially available in the European market in February 2022. 

Cenntro established a European Operations Center in Dusseldorf, Germany, which provides marketing support, after-market support and spare-parts warehousing for the European market, as well as warehousing services with a logistics company in Budapest, Hungary to house spare parts for its ECVs. Cenntro is also in the process of establishing an assembly facility in Jacksonville, Florida, where it plans to assemble its new Logistar™ 400 and Teemak™ models for sale in the North American market. Centro expects to begin trial assembling operations at the Jacksonville facility by the end of 2022.  

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Cenntro has invested heavily in ECV design and manufacturing processes as well as digitally enabled components, intra-vehicle communication, vehicle control, vehicle automation (vehicle digitization) as well as lithium battery technology.  Centro has developed a prototype system-on-chip for vehicle control and an open-platform, programmable chassis, with potential for both programmable and autonomous driving capabilities. Cennnto also designed and developed in-house a proprietary telematics box (T-Box) which allows its ECVs to send and receive data relating to location, speed, acceleration, braking and battery consumption, among others, to end-users. Additionally, the Company’s engineers have worked closely with some of its suppliers to co-design digitally enabled components in areas such as steering, braking, acceleration and signaling. 

Last year Cennto acquired a 65% equity interest in Tropos Motors Europe GmbH (TME), a wholly owned subsidiary of Mosolf SE & Co. KG for €3.25 million and the assumption of 100% of a shareholder loan from Mosolf to TME in the amount of €11.9 million. TME has a distribution network of 50 dealers in Germany and 13 importers in Europe across sixteen countries, including France, Spain, Portugal, the Netherlands, Belgium, Austria, Italy, Denmark, and the Czech Republic, and also sells directly to major fleet providers. The acquisition expanded Cenntro’s assembly capabilities and distribution network in EMEA and added a strategic customer network in Europe including the TME assembly facility in Herne, Germany. 

The electrification of the global automotive industry has been a major policy focus of governments worldwide. Certain countries, such as the United States, China, Canada, Germany and various other European countries, have announced aggressive EV initiatives designed to reduce carbon emissions, through the replacement of fossil fuels, and have begun incentivizing the development and sale of ECVs through government subsidy programs. The timing is perfect for Cenntro. 

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Currently trading at a $97 million market valuation CENN os is 261,256,254 shares outstanding. As we said the Company has a strong financial position of over $200 million in the treasury and is virtually debt free with growing sales and a really cook lineup of EVs. While the stock has been shorted into oblivion it currently trades right over all-time lows, valuing the Company as worthless since its cash position is larger than its market valuation. CENN has an enormous inventor base who continues to support the stock, accumulating more at current levels who see a really bright future for Cenntro.  Cenntro recently unveiled its Logimax 650 (“LM650”), an ell electric powered Class 6 Truck, at the WasteExpo 2023. Today the Company is presenting at the 34th Annual Equipment & Vehicle Show in Queens, NYC. We will be updating on CENN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

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Disclosure: we hold no position in CENN either long or short and we have not been compensated for this article.

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  1. Cenntro investor base referenced in the article no longer supports the leadership of the company. We the investors want Peter Wang and his c-suite to resign immediately for incompetence.


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