Cenntro Unveils Two New Electric Vehicles at IAA Transportation

Herne/Freehold – 19 September 2022 – Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, together with its subsidiary Cenntro Automotive Europe GmbH, unveiled two new all electric commercial vehicles at IAA Transportation 2022 in Hannover, Germany. The two new vehicles, the Logistar 260 (LS260) and the Logistar 100 (LS100), join the LS product line now available globally in Class 1 to Class 4.

The LS260 defines a new size in the van segment (Vehicle Class N1). With a length of 5.5 metres, a width of 1.85 metres and a height of 2 metres, it offers a load capacity of 7.5 cubic metres, two side loading doors and convenient rear doors with a cargo opening of up to 270°. Together with a payload of around 1,280 kilograms and a range of up to 270 kilometres, the LS260 is aimed at a wide range of applications for skilled trades, courier, express and parcel services, logistics solutions and facility management.

“The LS 260 rounds out Cenntro’s commercial vehicle line-up, providing fleets and businesses with best-in-class EV technology that supports the most robust operating cycles,“ stated Peter Wang, Chairman and Chief Executive Officer of Cenntro at the vehicles world premiere.

The first deliveries of the all-electric commercial vehicle are planned for the first quarter of 2023 in Europe, followed by market launches in Asia, the Caribbean and South America. The LS260 is currently undergoing homologation tests in the EU. Cenntro expects the vehicle to meet all standards and requirements and thus to receive EU type approval by the end of 2022.

The LS 100, is a versatile, compact, light cargo van purpose-built to serve diverse commercial applications, especially in population-dense urban areas. The vehicle has a range of 74 miles (WLTP), 1151 lbs. of payload, and a cargo capacity of 73.3 cubic feet. The combination of its cargo space and multiple entry points at the side and rear of the vehicle make this small city runabout ideal for a wide range of applications such as fast delivery and tradesmen's emergency services, hospitality and facility management.

The LS100 completed all homologation tests in compliance with the standards and requirements of the European Union (EU) in July and received type approval from the EU in August. As a result, the LS100 is eligible for sale in all 27 EU member states and other countries that adopt EU vehicle homologation standards.

“Our goal is to offer our customers adaptable electric vehicles that meets the requirements of different industries and application areas,” stated Gregory Hancke, Senior Vice President Operations of Cenntro Automotive Europe.

The entire Cenntro product range will be on display at IAA Transportation alongside the LS100 and LS260 including the German-built electric transporter Metro, the larger Logistar 200 as well as the Logistar 400 Class 4 truck, shown for the first time outside the U.S. For the specialized urban transporters Metro and Logistar 200, the company is also presenting new bodies that provide innovative solutions. Completing the product display is the Antric One Cargobike, a four-wheeled e-cargo bike especially tailored to delivery services and the transportation of general cargo over the last mile. The Antric uses an innovative trolley system in combination with a low loading platform.

Cenntro’s product portfolio is at the IAA Transportation 2022 in Hall 13, Stand E51 and at the open-air site at Stand L51.

About Cenntro Electric Group

Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric light and medium-duty commercial vehicles. Cenntro’s purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro plans to lead the transformation in the automotive industry through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. As of December 31, 2021, Cenntro has sold or put into service more than 3,700 vehicles in over 25 countries across North America, Europe, and Asia. For more information, please visit Cenntro’s website at: www.cenntroauto.com.