Cenntro’s reliance on state vouchers shows how far smaller electric truckmakers depend on public funding to reach US fleets
Cenntro has handed over 20 LS450 electric trucks through New York State’s truck voucher scheme, earning more than US$2.44m in revenue. The model now also qualifies for incentives in California and New Jersey, widening the subsidised market available to the New Jersey-based truckmaker as it builds out its US commercial vehicle business.
The New York total works out at roughly US$122,000 per e-truck. Further LS450 deliveries are planned under the New York City Clean Trucks Program, adding a city-level scheme to the state voucher already in use.
Listings under the California Clean Fuel Reward and the New Jersey Zero-Emission Incentive Program open two more states to eligible fleet buyers. Any award still depends on each scheme’s eligibility rules, available funding and approval process, a significant caveat for a company that treats incentive participation as central to growing LS450 sales.
In a statement, Peter Wang, Chairman and Chief Executive of Cenntro, said: “Delivering 20 LS450 trucks under New York State’s incentive program is an important step in expanding our U.S. commercial vehicle business. These programs help lower the upfront investment for eligible customers and support their transition to electric vehicles. With deliveries underway under New York programs and eligibility in California and New Jersey, we see opportunities to bring the LS450 to more fleet operators.”
Source: PR Newswire
Source: www.automotiveworld.com
