CENN - Cenntro Electric to end channel partner distribution in the US

• Cenntro Electric Group ( NASDAQ: CENN ) announced a strategic action to assemble its Metro product in-house and market Metro directly to its own distributors in the United States.
• Company will now have full control over the production and sale of the Metro EV model and will end channel partner distribution in the US.
• Currently, Metro is sold in Europe, Japan, Korea, Singapore and Israel. Since 2018, the vehicle has been sold through channel partners in the US but will now be sold directly by Cenntro.
• "The Metro was Cenntro's launch vehicle. We have been very pleased by its global market acceptance. Now, we will assemble and distribute our Metro product directly in US to assure the product quality, reduce the overhead, improve customer satisfaction and enhance our brand recognition." said Peter Wang, Chairman and CEO. "

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