Cenntro Electric Group (NASDAQ:CENN)
Cenntro Electric Group (NASDAQ:CENN), whose shares rose on Wednesday after the first Logistar 100 electric van rolled off its assembly line. The company further expects deliveries on the same to begin in September 2022.
This was Europe’s first small light commercial cargo van on sale Europe before being introduced into other markets in Asia, the Caribbean, and South America. The van has a 74-mile range, and it has a cargo capacity of 73.3 cubic feet, making it suitable for a variety of commercial purposes.
On market opening, shares of CENN shot up to 3%.
The first Logistar 100s, a light electric commercial van, rolled off the assembly line and are scheduled to be delivered starting in September to Europe, followed by launches in Asia, the Caribbean, and South America markets. Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, announced today that its first Logistar 100s had rolled off the production line.
In July, the LS100 successfully completed all homologation tests in accordance with the standards and specifications of the European Union (EU), and in August, the EU granted type approval. The LS100 can therefore be purchased in all 27 EU member states as well as other nations that follow EU vehicle homologation standards.
Peter Wang, Chairman and CEO of Cenntro Electric , remarked that “The Logistar 100 shows our desire to address the needs of an increasingly varied market.” “With the LS100, we are able to better serve customer demands for an adaptable electric car, especially in Europe, one of our core markets. The size and capacity of the LS100 give fleet managers and business owners a truly electric vehicle option to satisfy their needs without compromising on performance or function.”
At the forthcoming IAA Transportation Exhibition, which runs from September 20–25 in Hanover, Germany, the Logistar 100 will have its international debut.
Featured Image: Megapixl @Chagpg
Author Jowi Kwasu 
