Cenntro reported significant revenue growth for Q2 2024, with net revenues increasing 96.4% to $8.3 million compared to $4.2 million in Q2 2023. Vehicle sales rose to $7.1 million, driven by improved sales volume and higher average selling prices from $18,581 to $27,827 per unit. The company sold 255 ECVs during the quarter across multiple models, with strong performance in the North American market generating $4.9 million in revenues.Operating expenses decreased substantially, with selling and marketing expenses down 52.4% to $1.3 million, general and administrative expenses reduced by 17.6% to $7.7 million, and R&D expenses declining 49.2% to $1.1 million. The net loss narrowed to $9.2 million from $14.1 million in Q2 2023, reflecting improved operational efficiency and cost control measures.As of June 30, 2024, Cenntro maintained a solid financial position with $16.2 million in cash and cash equivalents, $7.9 million in accounts receivable, and $41.3 million in inventory. The company continues to focus on strengthening its existing market developments and improving operational efficiency, while expanding its product lineup and geographic presence in key markets.

Cenntro reported significant revenue growth for Q2 2024, with net revenues increasing 96.4% to $8.3 million compared to $4.2 million in Q2 2023. Vehicle sales rose to $7.1 million, driven by improved sales volume and higher average selling prices from $18,581 to $27,827 per unit. The company sold 255 ECVs during the quarter across multiple models, with strong performance in the North American market generating $4.9 million in revenues.Operating expenses decreased substantially, with selling and marketing expenses down 52.4% to $1.3 million, general and administrative expenses reduced by 17.6% to $7.7 million, and R&D expenses declining 49.2% to $1.1 million. The net loss narrowed to $9.2 million from $14.1 million in Q2 2023, reflecting improved operational efficiency and cost control measures.As of June 30, 2024, Cenntro maintained a solid financial position with $16.2 million in cash and cash equivalents, $7.9 million in accounts receivable, and $41.3 million in inventory. The company continues to focus on strengthening its existing market developments and improving operational efficiency, while expanding its product lineup and geographic presence in key markets.