NAKD - Cenntro to merge with Naked produces and delivers light urban delivery vehicle to European markets

EV technology company with advanced, market-validated commercial vehicles, Cenntro Automotive reported production and shipment of 628 the newly launched model Logistar 200, or LS200, a light urban delivery vehicle purpose-built to foray into the European streets. European and American customers have indicated strong demand for its new models. The company also reaffirmed its 2022 guidance to deliver a minimum of 20K vehicles. "With the working capital injection from the merger with Naked Brand (NASDAQ:NAKD), and the market demand for our vehicles, we are confident that we will meet our production guidance of 20K vehicles next year. We are well positioned for accelerated growth in 2022 and beyond," Cenntro's Chairman and CEO Peter Wang commented. Cenntro Automotive entered into a definitive merger agreement with Naked in August. NAKD shares trading 2.4% higher premarket.

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Cenntro, to merge with Naked, produces and delivers light urban delivery vehicle to European markets