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Cenntro’s revenue jumps in 2024 as the U.S. market gains traction

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By Luke Willetts - 27th June 2025

USA – EV startup, Cenntro Electric Group Ltd (CENN)*, based in Freehold, New Jersey, announced its full-year financial results, which included a net loss of USD 34.1 million in 2024 compared with a USD 54.2 million loss the year before (2023). Net revenue was USD 31.3 million in 2024, an increase from USD 22.1 million in 2023. The increase was driven by higher vehicle and spare parts sales, especially in the U.S. market, where sales surged from USD 0.4 million in 2023 to USD 19.3 million in 2024. The company ended 2024 with a Gross Profit of USD 7.6 million compared with a USD 2.3 million loss the previous year. Finally, the adjusted EBITDA was USD 28.2 million in 2024, compared with USD 47.6 million the year before.

Operational highlights

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