SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2023

SUBSEQUENT EVENT [Abstract]

SUBSEQUENT EVENT

NOTE 23 - SUBSEQUENT EVENT

On February 16, 2024, CEGL issued a press release announcing the Supreme Court of New South Wales, Australia (the “Court”) made orders to approve CEGL’s proposed scheme of arrangement in relation to which CEGL will redomicile from Australia to the United States (the “Scheme”). Under the Scheme, CEGL will become a subsidiary of Cenntro Inc. (the “HoldCo”), a United States company incorporated in accordance with the laws of the State of Nevada for the purpose of effecting CEGL group’s redomiciliation to the United States.

The Company has evaluated subsequent events through the date of issuance of the consolidated financial statements, there were no other subsequent events with material financial impact on the consolidated financial statements.