Cenntro Secures 500-Unit Metro MR Order For Japan, Shares Surge 8%

Cenntro Inc. CENN, a leading innovator in electric commercial vehicles, saw its shares rise following the announcement of a significant milestone: a 500-unit order for its Metro MR vehicles designed exclusively for the Japanese market.

This order, secured by Zhejiang Cenntro Machinery Co., Ltd., highlights the company’s ability to deliver high-quality, market-specific solutions that meet Japan’s rigorous standards. The Metro MR, a purpose-built electric delivery vehicle, addresses the challenges of densely populated cities like Tokyo and Osaka.

Backed by a bank letter of credit, the order showcases Cenntro’s operational and financial reliability. Deliveries are set for early 2025, positioning the company for further growth in the region.

Cenntro CEO Peter Wang stated, “Our Metro MR is an ideal electric delivery vehicle for urban centers like Tokyo and Osaka. This milestone not only strengthens our presence in Japan but could lead to additional orders and expanded market share.”

Cenntro remains committed to innovation and creating value for shareholders, addressing the rising demand for sustainable commercial vehicles globally.

Price Action: CENN shares are trading higher by 8.41% at $1.16 at the last check Thursday.

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