USA/Germany: Cenntro Acquires Majority Interest of Tropos Motors Europe
Freehold/New Jersey-based Cenntro Electric Group Ltd., a leading electric vehicle technology company, recently announced to have entered into an agreement with MOSOLF SE & Co. KG, one of Europe’s largest automotive logistics and service providers, to acquire a 65 percent equity interest in Tropos Motors Europe GmbH, a wholly owned German subsidiary of Mosolf. In the course of the acquisition, Tropos will be rebranded to Cenntro Automotive Europe GmbH.
Tropos Motors Europe assembles and distributes light electric commercial vehicles, based on Cenntro’s Metro® model, in Europe under the brand “ABLE“. Following the closing of the acquisition, it is anticipated that Tropos will assemble and distribute the full line of Cenntro’s products for the EMEA market. In addition, Cenntro has added important models to its range of light and medium-heavy electric commercial vehicles. Thanks to this partnership, it will be possible for the companies to better serve customer requirements in the tourism, amusement park and zoo sectors (among others) in the future. (eap)
