Brief: Cenntro Electric Group Expands Global Production Capacity With Acquisition Of Advanced Manufacturing Facility In China

Cenntro (The)

13/05/2022 23:23

May 13 (Reuters) - Cenntro Electric Group Ltd  CENN.O :
    * CENNTRO ELECTRIC GROUP EXPANDS GLOBAL PRODUCTION CAPACITY
WITH
ACQUISITION OF ADVANCED MANUFACTURING FACILITY IN CHINA
    * CENNTRO ELECTRIC GROUP LTD - PURCHASE PRICE OF
APPROXIMATELY
$19.5 MILLION
    * CENNTRO ELECTRIC GROUP LTD - NEW 474,000 SQUARE FOOT
FACILITY
WILL ALLOW CENNTRO TO EXPAND ITS PRODUCTION CAPACITY
    * CENNTRO ELECTRIC GROUP LTD - NEW FACILITY IS EXPECTED TO
BEGIN
TRIAL PRODUCTION IN Q3 OF 2022
    * CENNTRO ELECTRIC GROUP - NEW FACILITY WILL HAVE EXPECTED
CAPACITY OF 50,000 VEHICLES ANNUALLY ONCE FULLY OPERATIONAL

Source text for Eikon:  ID:nBw9nrFWza 
Further company coverage:  CENN.O 

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