News Release

FREEHOLD, N.J.--(BUSINESS WIRE)--Jan. 14, 2025-- Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a pioneering electric commercial vehicle company with advanced, market-validated, and purpose-built vehicles, today announces the order of 200 special edition Logistar® 450P (“LS450P”) electric passenger vans from Spanish vehicle provider QEV Technologies, S.L. (“QEV”).

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Logistar®450P (Photo: Business Wire)

Cenntro has secured a 30% deposit for the first 47 Logistar® 450P units, which are scheduled for delivery in the first calendar quarter of 2025. The LS450P model is a special edition jointly developed by QEV and Cenntro and holding European Union M2 Type Approval. The LS450P’s certification allows the vehicle to be used for short-distance shuttle services or public transportation, positioning it as a potential groundbreaking offering for the European market.

“The LS450P represents an exciting milestone in Cenntro's mission to provide innovative, sustainable transportation solutions,” said Peter Wang, Chairman and CEO of Cenntro. “We are thrilled to collaborate with QEV Technologies on this project and to bring a versatile, eco-friendly solution to European markets.”

The LS450P model is the latest addition to Cenntro's Logistar LS450 model variations. We believe this enhanced passenger transportation application delivers a more versatile and capable solution for a variety of applications while demonstrating Cenntro’s commitment to advancing electric vehicle technology.

Cenntro is confident that the demand for purpose-built electric vehicles, like the LS450 series with LS450P available in EU markets, will continue to grow as governments and businesses across the globe seek sustainable transportation solutions.

About QEV Technologies, S. L.

QEV is a public company trading on Euronext Amsterdam stock exchanges. QEV Technologies has over 20 years of experience in the field of electric mobility and the development of competition and road vehicles. It is committed to the R&D&I of the electric vehicle of the future.

www.qevtech.com

About Cenntro

Cenntro (NASDAQ: CENN) is a maker and provider of electric commercial vehicles (“ECVs”). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. 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 10-K filed with the Securities and Exchange Commission on April 1, 2024 and which may be viewed at www.sec.gov.

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Investor Relations Contact:
Chris Tyson
MZ North America
CENN@mzgroup.us
949-491-8235

Company Contact:
PR@cenntroauto.com
IR@cenntroauto.com

Source: Cenntro Inc.