Cenntro Inc. (NASDAQ: CENN)

Cenntro Inc. is an emerging designer manufacturer distributor and service provider of commercial vehicles powered by electricity or hydrogen. The company focuses on the design development production distribution and aftermarket support of electric and hydrogen fuel cell vehicles for fleet municipal and last mile delivery applications. As of the date of the filing Cenntro offers six series of commercial vehicle models including Metro Logistar Teemak Avantier iChassis and Antric One along with a hydrogen powered Class 8 semi tractor under development.

Cenntro generates revenue primarily through the sale of fully assembled commercial vehicles and vehicle kits that are distributed for local assembly. The company also earns income from the sale of spare parts through its cloud based parts distribution system and from providing aftermarket service and support to its customers. Additionally Cenntro leverages its asset light distributed manufacturing and original equipment manufacturing models to reduce capital expenditure while delivering vehicles to end users.

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Cenntro positions itself as a niche player in the electric commercial vehicle sector with a focus on cost effective modular designs and an asset light manufacturing approach. The company states that the global ECV market has few mature competitors able to deliver cost effective and financially viable vehicles which creates an opportunity for Cenntro to capture market share. Its competitive advantages stem from its proprietary lightweight chassis architecture its distributed manufacturing model that reduces capital requirements and its long life electric powertrains that lower operating costs for end users. The firm also highlights its growing patent portfolio covering power systems vehicle electronics and production processes as a barrier to entry for rivals.

The company serves fleet operators municipal agencies last mile delivery providers and commercial logistics firms. Specific customers include QEV Technologies S L and the Japanese channel partner HW Electro which sells to various logistics and transportation companies in Japan.