Vehicle Development and Production - As of December 31, 2024, the company has developed six series of commercial vehicle models and has begun production and delivery of these models into global markets[29] - The company has introduced the iChassis™ platform for autonomous driving applications and is developing hydrogen-powered heavy-duty vehicles to meet market demand[30] - The company has begun making its own battery packs and is preparing for battery cell production to enhance its supply chain capabilities[31] - The company has launched subsidiaries in various countries, including Colombia and Italy, to expand its global presence and market reach[63][64] - By the end of 2023, the company has launched seven ECV models available for commercial offering, including Metro MB, Avantier α and c, Logistar 100, Logistar 200, Logistar 260, Logistar 400, and Teemak[157] - In 2024, the company launched five new EV models: Avantier Ex, Avantier Commuter, Logistar 210, Logistar 300, and Logistar 450, enhancing its vehicle lineup and providing more options for customers[158] Market Trends and Projections - The global electric vehicle (EV) market was valued at approximately USD 561.3 billion in 2024 and is projected to reach approximately USD 1.58 trillion by 2030, representing a compound annual growth rate (CAGR) of 19% from 2023 to 2030[80] - The global electric commercial vehicle (ECV) market is projected to reach revenues of USD 623.3 billion in 2024, with a steady annual growth rate (CAGR 2024-2028) of 9.82%, reaching USD 906.7 billion by 2028[80] - The global hydrogen vehicle market is forecasted to grow at a CAGR of 31.94% from 2025 to 2032, reaching approximately USD 19.92 billion by 2032[86] Financial Performance - The company reported revenues of approximately $31.3 million for the year ended December 31, 2024, with significant losses from operations amounting to $55.3 million for the same period[203][205] - The revenue breakdown for 2024 shows the United States contributing $20,888,931 (66.7%), Europe $5,719,353 (18.3%), Asia $4,579,104 (14.6%), and others $110,004 (0.4%) compared to 2023[165] Research and Development - Approximately USD 94.4 million has been spent on R&D since 2013, developing ten vehicle models[116] - The company has invested approximately $94.4 million in research and development activities since inception, focusing on developing energy-efficient electric commercial vehicles (ECVs)[205] - As of December 31, 2024, the company holds 125 discovery patents, 10 design patents, and 86 innovation patents granted by the Chinese Patent Office, with additional applications pending[200] Manufacturing and Supply Chain - The company has established an asset-light, distributed manufacturing model, allowing for local assembly of vehicle kits to reduce capital investment[32] - The company has established a supply chain with over 500 suppliers, aiming to localize key components in North America and the European Union to support growth[192][193] - The new manufacturing facility in Changxing, acquired for approximately $19.5 million, is expected to support the production of 50,000 vehicles annually once fully operational[184] Distribution Strategy - The company has shifted its distribution strategy to combine wholly-owned EV Centers with local distribution channels to improve operational efficiencies and market share[33] - The company has shifted its distribution model, with channel partners accounting for approximately 2.1% of sales in 2024, down from 22.2% in 2023, following the acquisition of TME and the establishment of EV Centers[211] - The company has established a hybrid distribution model, opening eleven EV centers mainly in the US and EU throughout 2023[148] - The company is shifting towards local distribution channels to improve service quality and reduce operational costs[127] Regulatory and Market Challenges - The establishment and training of staff at EV Centers may require more time and resources than anticipated, potentially affecting performance and service quality[221] - The company does not provide charging solutions for channel partners or their customers, relying on third parties to ensure charging availability, which may impact vehicle attractiveness in certain markets[225] - The battery capacity of ECVs is expected to decline by up to 20% over six years under normal use conditions, which may negatively influence purchasing decisions[226] - The company anticipates challenges in penetrating new geographic markets, requiring substantial investment in time and resources to meet technical and regulatory requirements[224] Product Features and Certifications - The Metro® has passed N1 homologation requirements in Asia and has obtained EU Small Series Type Approval for an annual sales limitation of 1,500 units into the European Union market[96] - The LS300 has a payload of 3,307 lbs and a range of 270 miles, with EPA and CARB certifications received in 2024[105] - The company’s ECVs are designed with a lightweight chassis structure, reducing overall weight and increasing battery efficiency compared to competitors[191] - Hydrogen-powered trucks are expected to offer zero harmful emissions, higher energy density, and faster refueling times compared to battery-electric vehicles, making them suitable for long-haul transportation[161] Employee and Operational Insights - The company has a total of 260 full-time employees, with 64 in research and development and 58 in manufacturing[202] - The management team has extensive experience in the automotive and technology industries, focusing on developing high-quality, light- and medium-duty ECVs[198]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to _______. Commission file number: 001-38544 CENNTRO INC. (Exact name of registrant as specified in its charter) Nevada N/A (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Title of each class: Trading Symbol(s) Name of each exchange on which registered: Common Stock CENN The Nasdaq Capital Market Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to _______. Commission fi ...

Washington, D.C. 20549 For the quarterly period ended: March 31, 2024 OR Commission file number: 001-38544 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification Number) (Address of principal executive offices, including zip code) TradingSymbol(s) If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13( ...

Note - Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Act from their obligations under those Sections. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant has filed a report on and att ...

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will redomicile from Australia to the United States ("U.S.", the “Scheme”), and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada ( ...

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will re-domicile from Australia to the United States ("U.S.", the “Scheme”), and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada ...

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will re-domicile from Australia to the United States ("U.S.", the “Scheme”), and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada ...

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro”, or the “Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, today announced that Cenntro shareholders have voted in favor of the proposed scheme of arrangement in which Cenntro will redomicile from Australia to the United States (“Scheme”), and under which Cenntro will become a wholly owned subsidiary of Cenntro Inc. (“HoldCo”), a United States ("U.S.” ...

FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will re-domicile from Australia to the United States (“Scheme”), and under which Cenntro will become a subsidiary of Cenntro Inc. (“HoldCo”), a new United States ("U.S.") company incorporated in accordance with the laws o ...