CENN

FREEHOLD, N.J., May 16, 2025--(BUSINESS WIRE)--Cenntro Inc. (NASDAQ: CENN) ("Cenntro" or "the Company"), a pioneering innovator in electric commercial vehicles, with advanced, market-validated, and purpose-built vehicle and smart technology products, has reported its financial and operational results for the three months ended March 31, 2025. First Quarter 2025 Financial and Operational Highlights: First quarter 2025 net revenue of $2.1 million decreased 8.5% compared to $2.3 million for the first quarter 2024. Adjusted EBITDA loss for the first quarter of 2025 of ($4.0) million compared to a loss of ($6.4) million for the first quarter of 2024. Sold 129 Electric Commercial Vehicles in the first quarter of 2025, an increase of 34% over the prior year period. Sold 31 Avantier™ vehicles in Europe and South American markets in the first quarter of 2025 compared to 12 vehicles in the first quarter of 2024. Sold 27 iChassis units in the first quarter of 2025 compared to 227 units in the first quarter of 2024. Peter Wang, Chief Executive Officer, commented: "The first quarter of 2025 was underscored by continued international vehicle sales momentum across our product line. During the quarter we sold a total of 129 Electric Commercial Vehicles, compared to 96 vehicles in the prior year period, a 34% improvement. In the first quarter of 2025, our facility in Ontario, CA, assembled and delivered 14 vehicles to customers on the North American west coast. "For the iChassis, we sold 27 units in the first quarter of 2025, although these units are not inclusive of the number of vehicles sold because iChassis is not considered a complete vehicle. The iChassis 100 is a smart chassis platform designed and manufactured by Cenntro, serving as a foundational component for autonomous commercial vehicles. At present, we exclusively manufacture autonomous commercial vehicles for third-party contractors in China, and in the 2024 calendar year we delivered more than 900 autonomous driving delivery vehicles incorporating the iChassis 100 in China. With strong demand for the iChassis platform and autonomous vehicle manufacturing capabilities, we are expanding our footprint in China and abroad. "Several significant orders delivered in the first quarter continued to demonstrate global demand for our purpose-built electric vehicles. In Spain, we received an order for 200 special edition...

FREEHOLD, N.J., April 02, 2025--(BUSINESS WIRE)--Cenntro Inc. (NASDAQ: CENN) ("Cenntro" or "the Company"), a pioneering innovator in electric commercial vehicles, with advanced, market-validated, and purpose-built vehicle and smart technology products, has reported its financial and operational results for the year ended December 31, 2024. Full Year 2024 Financial and Operational Highlights: Year 2024 net revenue of $31.3 million increased 200.2% compared to $10.4 million for the year of 2023. United States ("US") sales volume increased to $19.3 million in the year of 2024 from $0.4 million for the year of 2023. Adjusted EBITDA loss for the year of 2024 of $28.2 million compared to a loss of $39.3 million for the year of 2023. Sold 1,122 Electric Commercial Vehicles in the year of 2024. Sold 145 Logistar™ 400 Class 4 vehicles in the US market compared to 1 vehicle in the year of 2023. Sold 492 Avantier™ vehicles in Europe and South American markets in the year of 2024 compared to 97 vehicles in the year of 2023. Sold 911 iChassis units in the year of 2024 compared to 303 units in the year of 2023. Peter Wang, Chief Executive Officer, illustrated: "The year of 2024 and early 2025 were highlighted by ongoing international growth and new vehicle delivery. During the year we sold a total of 1,122 vehicles across our portfolio, compared to 630 vehicles in the prior year period. For the year ended December 31, 2024, our facility in Ontario, CA, has assembled and delivered over 192 vehicles to customers on the North American west coast. We expect a significant revenue increase in the US market as we continue to shift our strategy to focus on North American sales, and introduction of additional new models in the US market. Additionally, we sold 911 units of our iChassis in year 2024, although these units are not inclusive of the number of vehicles sold because iChassis is not considered a complete vehicle. "For the iChassis, we delivered more than 900 autonomous driving delivery vehicles incorporating the iChassis 100 in the 2024 calendar year to third-party contractors in China. Following its initial production phase in 2023, we experienced strong demand for the iChassis platform and autonomous vehicle manufacturing capabilities, both in China and abroad. This achievement underscores the growing demand for our advanced, market-validated, and purpose-built autonomou...