Cenntro Establishes Assembly and Distribution Facility in Ontario, California to Serve U.S. Markets
July 09 2024 - 8:31AM
Business Wire
New Facility Reinforces Cenntro’s Commitment to
Serve West Coast EV Markets
Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the
Company”), a leading electric commercial vehicle company
with advanced, market-validated, and purpose-built vehicles, today
announced the establishment of a California-based electric vehicle
(“EV”) production and distribution assembly facility to
support expanding sales in the United States (“U.S.”) west
coast market.
Cenntro’s Ontario, California assembly and distribution facility
supports production operations with a strong focus on the U.S. west
coast market. Our California facility has full-scale production
capabilities for the LS400 and Metro vehicle models sold in the
U.S.
As of June of this year, the California facility has assembled
and delivered over three dozen LS400 units to west coast customers.
Production from this facility, with its shortened time from the
port to the facility supports our North American sales initiatives
and provides our west coast customers the opportunity to electrify
their fleet more efficiently. Cenntro will continue production of
the LS400 and Metro vehicle models at its assembly facility in
Howell, New Jersey to serve the east coast of the U.S. while it is
winding down operations at its Jacksonville facility in
Florida.
“With our expanded production capacity in California, Cenntro is
positioned for more efficient delivery our EVs to the west coast
market. With this strategic shift, we intend to continue driving
sales by improving our production capability and providing fleet
customers with the ability to electrify their fleet, reduce their
carbon footprint, and significantly lower their cost of
operations,” said Peter Wang, Chairman and CEO of Cenntro.
About Cenntro
Cenntro (NASDAQ: CENN) is a leading maker and provider of
electric commercial vehicles (“ECVs”). Cenntro's
purpose-built ECVs are designed to serve a variety of commercial
applications inclusive of its line of class 1 to class 4 trucks.
Cenntro is building a globalized supply-chain, as well as the
manufacturing, distribution, and service capabilities for its
innovative and reliable products. Cenntro continues to evolve its
products capabilities through advanced battery, powertrain, and
smart driving technologies. For more information, please visit
Cenntro's website at: www.cenntroauto.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include all statements that are not historical facts.
Such statements may be, but need not be, identified by words such
as "may," "believe," "anticipate," "could," "should," "intend,"
"plan," "will," "aim(s)," "can," "would," "expect(s),"
"estimate(s)," "project(s)," "forecast(s)," "positioned,"
"approximately," "potential," "goal," "strategy," "outlook" and
similar expressions. Examples of forward-looking statements
include, among other things, statements regarding assembly and
distribution capabilities, decentralized production, and fully
digitalized autonomous driving solutions. All such forward-looking
statements are based on management's current beliefs, expectations
and assumptions, and are subject to risks, uncertainties and other
factors that could cause actual results to differ materially from
the results expressed or implied in this communication. For
additional risks and uncertainties that could impact Cenntro’s
forward-looking statements, please see disclosures contained in
Cenntro's public filings with the SEC, including the "Risk Factors"
in Cenntro's Annual Report on Form 10-K filed with the Securities
and Exchange Commission on April 1, 2024 and which may be viewed at
www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20240709407838/en/
Investor Relations Contact: Chris Tyson MZ North America
CENN@mzgroup.us 949-491-8235
Company Contact: PR@cenntroauto.com
IR@cenntroauto.com
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