Cenntro Electric Group to Showcase LS400 Commercial Electric Vehicle at Upcoming Industry Events

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the Company will showcase its Logistar™ 400 (“LS400”) series all electric, purpose-built Class 4 vehicle at several important industry events including the New York City Fleet Show, the Global Fleet Conference and the Fleet Forward Tour Chicago event.

The 33rd Annual NYC Fleet Show will be held Thursday, May 26, 2022 from 9am to 2pm at the Unisphere at Flushing Meadows Corona Park, Queens, New York. The NYC Fleet show highlights vehicles and equipment with alternative fuels and emissions-reducing technologies. For more information visit www1.ysc.gov.

Global Fleet Conference to be held June 7-9, 2022, in Hollywood, Florida. Now in its ninth year, the Global Fleet Conference is an innovative event designed exclusively for decision makers and managers from the world’s largest multinational commercial fleets. In addition to education sessions and displays, the event includes a ride and drive. Cenntro, a Silver sponsor of the conference, will showcase the LS400 and its off-road vehicle in the Ride and Drive. For more information visit www.globalfleetconference.com.

Fleet Forward Tour Chicago will be held June 16, 2022. The one-day regional event, of which Cenntro is a Gold sponsor, allows fleet operators to experience and drive commercial EV products. Cenntro’s LS400 will be included in the event’s ride and drive. For more information visit www.fleetforwardthetour.com.

Cenntro Electric Group’s LS™ 400 is a Class 4 truck designed primarily for urban delivery and freight covering two significant markets including urban delivery fleets and upfitters. Ideal for the various demands of today’s challenging delivery market, the LS™ 400 can be used by courier services for last mile delivery or cab over/forward trucks for box delivery and cutaway delivery vans.

“With our continued global expansion, these events are must-attend destinations for many private and public fleet and logistics operators, and we are looking forward to both displaying our incredible vehicles and offering the opportunity for test drives to interested customers,” said Peter Wang, Chief Executive Officer of Cenntro Electric Group Limited. “We look forward to allowing attendees to discover and test our all electric, purpose-built Class 4 vehicle designed to serve the last-mile urban delivery market.”

Management will also be available for one-on-one meetings with industry analysts and institutional investors during the events. Portfolio managers and analysts who wish to request a meeting should email their request to IR@cenntroauto.com or contact MZ Group at 1-949-491-8235.

About Cenntro Electric Group Ltd.

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.

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.

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