Cenntro Inc (NASDAQ: CENN) is an electric commercial vehicle company that designs and sells light-duty electric cargo vans, utility vehicles, and specialty electric vehicles primarily for urban logistics, last-mile delivery, and off-road applications. Revenue comes from vehicle sales, with models including the Logistar 100, Logistar 200, Logistar 260, Avantier Series, and the Teemak off-road utility series. The company operates an asset-light manufacturing model, producing semi-knock-down vehicle kits at facilities in China for local final assembly elsewhere, and contracting third-party OEM manufacturers including Seres, Chery, and JMC for completed vehicles and kits. Beyond vehicles, Cenntro has developed Level 2 AC chargers (7kW, 10kW, 22kW) and Level 3 DC chargers (120kW) with EU CE and US ETL certification, and a mobile energy storage and charging product line ranging from 3kWh to 209kWh currently in validation as of the 10-K filed 2026-04-15. The company also has development-stage programs in methanol-based hydrogen generation and solid-state battery manufacturing. The EU market is an active sales geography, with 27 LS260 units sold in the EU during FY2025.

Revenue model

Transactional vehicle sales to commercial customers, with ancillary revenue from EV charger sales. Commercial-scale sales of mobile energy storage and charging units are expected to commence in 2026 per the 10-K filed 2026-04-15. No subscription or recurring revenue model is described in the filing excerpts.

Products and services

Logistar 100 (compact cargo van, 74-mile range, 525kg payload), Logistar 200, Logistar 260 (7.5 cubic meter cargo van, EU type approved, 27 units sold in EU FY2025), Avantier Series (urban electric vehicles, EU type approved), Teemak M2 (off-road utility vehicle, North American market, anticipated Q4 2026 launch), electric shuttle bus (under development, derived from LS450 platform), electric yard logistics and sightseeing platform vehicles (under development), Level 2 AC chargers (7kW/10kW/22kW, EU CE and US ETL certified), Level 3 DC charger (120kW), mobile energy storage and charging units (3kWh to 209kWh, UL 9540, UL 1973, FCC Part 15, CE certified, in validation as of filing date), methanol-based hydrogen generation systems (development stage), solid-state battery manufacturing capability (development stage).

Customers and end markets

Commercial operators in urban logistics, last-mile package delivery, courier and parcel services, trades and maintenance services, hospitality and catering, facility management, yard logistics, off-road utility, and sightseeing and passenger transport. No specific customer names or concentration data are disclosed in the filing excerpts.

Value-chain role

Vehicle designer and brand owner operating an asset-light model. Manufactures semi-knock-down kits at China facilities and distributes them for local final assembly under a distributed manufacturing model. Contracts tier-one OEM manufacturers (Seres, Chery, JMC) to produce completed vehicles and kits to Cenntro design and specifications. Also provides technology and vehicle modules to OEM contractors in some arrangements.

Geographic exposure

Manufacturing base in China. Active vehicle sales in the EU market (27 LS260 units sold in EU FY2025). North American market targeted for Teemak M2 launch anticipated Q4 2026. Energy storage and charging products certified to both US and EU standards.

Source: SEC 10-K, filed 2026-04-15

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