10 High Growth EV Stocks to Invest In

4. Cenntro Inc. (NASDAQ:CENN)

Average 5-Year Revenue Growth: 54.32%

Cenntro Inc. (NASDAQ:CENN) is a company that designs, manufactures, distributes, and offers services for commercial vehicles that run on hydrogen or electricity. The company’s commercial vehicles are made to assist city services, last-mile delivery, and other commercial applications for a range of fleet and municipal organizations. The business has also unveiled an open-platform, programmable, all-electric iChassis platform for automated and self-driving cars. The company’s largest geographic revenue comes from vehicle sales in the US, although it is also present in Europe, Asia, and other regions. It is ranked among the High Growth Stocks.

The business saw tremendous growth in 2024, as seen by its net sales, which rose from $10.4 million in 2023 to $31.3 million, a 200.2% year-over-year increase. Strong market penetration was shown by the significant growth in U.S. sales volume, which went from just $0.4 million to $19.3 million the year before. Cenntro Inc. (NASDAQ:CENN)’s operational efficiency helped it reduce its adjusted EBITDA loss from $39.3 million in 2023 to $28.2 million.

During the year, 1,122 electric commercial vehicles were sold, including 145 Logistar 400 Class 4 vehicles in the U.S. (compared to just one in 2023), 492 Avantier vehicles in Europe and South America (compared to 97), and 911 iChassis units (compared to 303). These sales show that demand is growing globally and that key product lines are gaining traction.