Press Event to Unveil Production iChassis on January 5, 2023

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it will showcase the world premiere of five new vehicles at the upcoming 2023 Consumer Electronics Show (CES®), one of world’s largest technology trade shows taking place January 5-8, 2023 in Las Vegas. The new vehicles join what is quickly becoming the most comprehensive All Electric Commercial vehicle lineup available worldwide. Vehicles making their world premiere include the recently announced LM864H, a Class 8 Hydrogen Fuel Cell vehicle, the Logistar 300, an All-Electric Class 3 van, and the iChassis product line of three open-platform, fully programmable vehicles designed for automated and autonomous driving.

Cenntro will host a press event on January 5^th to showcase its full product line, unveil its three vehicle production versions of the iChassis and discuss its full product strategy at a press event scheduled for 10:00 AM on January 5, 2023, in Booth 5840.

The press event will be streamed live and available here.

LM864H Brings Zero Emissions for the Long Range

The LM864H is a 6x4 semi-tractor representing Cenntro’s first entry into hydrogen fuel cells and its first heavy-duty truck. The semi-tractor’s electric motors are fully powered by high-efficiency sustainable hydrogen fuel cells with eight 210-liter banks that convert hydrogen into electric power by combining it with oxygen, producing only water as its only byproduct. The LM864H will be available in 3Q of 2023.

LS 300 to bring All Electric Van to Logistics and Vocational Industry

The LS 300 is a Class 3 vehicle and will be available in two variations: as a van and a truck. The range and capacity of the LS300 will make it a strong contender in the commercial EV market for last mile delivery and urban services. The LS300 is equipped with a 118kWh lithium iron phosphate (LFP) battery, a maximum speed of 62 mph and the range of 273 miles (440 km). The van version features four doors for easy access and the truck variation can be upfitted with different configurations that can meet the needs for multiple applications.

Cenntro Full Product Line on Display in Booth 5840

Cenntro’s exhibit at Booth 5840 in the West Hall will be a 10,000 square feet display of its complete All Electric Commercial product line. The exhibit will include the full Logistar line which features the versatile compact cargo van, the LS100, the multi-purpose LS200 available in van or box truck configurations, the segment defining LS260 van and the Class 4 LS400 purpose-built for last mile delivery and urban services. Cenntro will also showcase its Off-Road Vehicle offerings, the TeeMak, and the Antric One, an auto grade four wheeled e-cargo bike purpose-built for delivery services and general cargo transport.

iChassis Open a Gateway for Open Platform Autonomy

Cenntro's production version, state of the art All Electric iChassis series will revolutionize how the industry defines autonomy and open up new possibilities for commercial applications. The open-platform, fully programmable iChassis series has been designed for automated and autonomous driving. Unlike other industry offerings, Cenntro’s iChassis opens innovation to third-parties to develop their own software and design hardware to control and maneuver the vehicle and to develop new applications that are unique to their needs.

About Cenntro Electric

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 has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.