Establishes Cenntro Motors France with Headquarters in Lyon
Nevada’s Cenntro Motor Corp, purveyor of the Kombi line of battery electric utility trucks, has acquired SITL-Brandt Motors, of Lyon, France. A French court has approved the $50 million buy, which Cenntro says “will result in the creation of a new company, Cenntro Motors France, which will serve as the European headquarters and operations of Cenntro Motor Group.”
“SITL-Brandt has long been recognized for quality and innovation,” Cenntro executive VP Marianne McInernery said in a release.
“The all-electric Citélec commercial truck is an illustration of the innovative spirit that defines SITL-Brandt and the entire Grand Lyon region,” she said. “It is a good complement to our Kombi all-electric utility vehicle. SITL-Brandt’s employees are instilled with passion and commitment; it is an honor to bring them into the Cenntro Motor family.”
“The acquisition of SITL-Brandt positions Cenntro to become the global leader in electric light commercial utility vehicles.”
Battery Packs and R&D in France
Cenntro Motors France will become the European headquarters for Cenntro Motor Group, complementing the company’s global headquarters in Sparks, Nev. and its operations in China.
Cenntro says it will invest $20 million into SITL-Brandt “and envisions the establishment of a new battery packaging company to produce advanced battery packs for the electric vehicle market in Europe.” Cenntro says too that it will establish a research and design center in Lyon to support all of the Cenntro’s automotive divisions.
“Lyon is ideally located to serve as a strategic location from which to distribute Cenntro products and bring commercial customers across Europe a range of electric utility vehicles that offer performance, value and quality to meet diverse needs,” Cenntro says.
Contact information is only available to premium subscribers. Click here to purchase a subscription.
Source: Cenntro Automotive with Fleets & Fuels follow-up