Cenntro Inc. - CENN STOCK NEWS

Cenntro Electric Group (NASDAQ: CENN) has announced the launch of the new Logistar 260, an all-electric commercial van tailored for trades, logistics solutions, and facility management applications. Initial deliveries to Europe are slated for Q1 2023, with plans for subsequent launches in Asia, the Caribbean, and South America. The LS 260 boasts dimensions of 5.50m in length, 1.85m in width, 2m in height, and a cargo capacity of 7.5 cubic meters. Compliance with EU standards is expected by the end of 2022. The vehicle will debut at the IAA Transportation Exhibition in Hannover, Germany from September 20-25.

Cenntro Electric Group (NASDAQ: CENN) has commenced production of its Logistar 100, a light electric commercial van, with deliveries set to begin in September 2022 to Europe, and plans for further expansions to Asia, the Caribbean, and South America. The LS100 features a range of 74 miles and a payload capacity of 1,151 lbs. It has successfully passed all necessary EU homologation tests, allowing it to be sold across all 27 EU member states. The vehicle will debut at the IAA Transportation Exhibition in Hanover, Germany, from September 20-25.

Cenntro Electric Group Limited (NASDAQ: CENN) announced its participation in various industry trade shows to showcase its all-electric Class 4 Logistar 400 (LS 400). Key events include the American Public Works Association Trade Show from August 28-31, 2022, in Charlotte, NC, and the Annual Sustainable Fleet Show from August 30-September 1, 2022, in Durham, NC. The LS 400 is designed for various applications, offering a payload capacity of 5,600 pounds and a range of up to 124 miles on a single charge.

Cenntro Electric Group Limited (NASDAQ: CENN) has announced a strategic shift to assemble and market its Metro electric vehicle (EV) directly in the United States. This decision allows the company to establish direct control over production and sales, enhancing product quality and customer satisfaction. Initially launched in 2017, the Metro has gained international traction, now sold in over 26 countries. Chairman and CEO Peter Wang highlights this move as a means to improve operational efficiency and strengthen brand recognition.

Cenntro Electric Group Limited (NASDAQ: CENN) announces the establishment of Cennatic Power Inc., a U.S. subsidiary dedicated to manufacturing advanced lithium-ion batteries for electric commercial vehicles. A lease has been signed for a 10,436 square meter facility in Monterrey, Mexico, with trial production expected in the first half of 2023. This strategic move aims to reduce supply chain dependency on China and enhance the company’s battery technology, thereby accelerating development and reducing costs.

Cenntro Electric Group Limited (NASDAQ: CENN) announced a strategic investment of EUR 2.5 million ($2.55 million) in Antric GmbH, acquiring a 25% stake. This includes EUR 1.25 million in cash and a convertible loan, valuing Antric at EUR 10 million. Cenntro will manufacture Antric's Antric One e-cargo bike in Germany and market it globally. The e-cargo bike, designed for delivery services, boasts a capacity of 2.3 cubic meters and a payload of 300 kg, enhancing Cenntro's EV product lineup.

Cenntro Electric Group Limited (NASDAQ: CENN) announced participation in two investor conferences in August 2022. CEO Peter Wang and CFO Edmond Cheng will attend the J.P. Morgan Auto Conference on August 9-10 in New York, where they will present at 2:20 p.m. ET. The second event is the D.A. Davidson Big Sky Summit in Big Sky, MT, from August 21-23. The management team will hold one-on-one meetings with institutional investors at both conferences. Cenntro has sold over 3,700 electric vehicles across 25 countries as of December 31, 2021.

Cenntro Electric Group Limited (NASDAQ: CENN) has been added to the Russell 2000®, Russell 3000®, and Russell Microcap® Indexes effective June 24, 2022. This milestone reflects the company's significant growth over the past year. The Russell 3000® Index includes the largest 3,000 U.S. companies, while the Russell 2000® is comprised of 2,000 small-cap companies. Membership in these indexes is crucial for investment managers, as over $12 trillion in assets are benchmarked against them. This change is expected to enhance Cenntro's visibility and attract more institutional investors.

Cenntro Electric Group Limited (NASDAQ: CENN) has announced a partnership with Princeton NuEnergy, Inc. to enhance sustainability in the electric vehicle (EV) sector. The partnership aims to recycle lithium-ion battery materials, thus promoting a closed-loop supply chain and contributing to net-zero emissions. PNE's innovative recycling processes can reduce costs by up to 44% and recover over 95% of critical elements while utilizing less energy and emitting 70% less CO2 than traditional methods. This collaboration highlights the importance of efficient battery recycling in addressing material shortages.