Avantier has Received Approval for Commercial use in Europe and a Passenger Version to be Available in Central America

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that its wholly owned subsidiary, Avantier Motors Company, will launch a new vehicle product line of electric micro-cars intended for urban use. The Avantier is a 3-door hatchback and will initially launch in Europe and Central America.

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Avantier (Photo: Business Wire)

In Europe, the Avantier has received approval for commercial use under EU L7e Type approval. A passenger version of the Avantier will be available in Central America.

The two-seat Avantier’s compact design offers driver comfort with a well-appointed and spacious interior. Powered by a PMS electric motor and a 13.9 kWh LiFePO4 battery pack, the Avantier has a range of 170 km (106 miles) and a top speed of 90 km/h. The Avantier is intended for city commercial use for fast delivery and related services and, in select markets, for passenger transport.

“In cities across the globe, the way we travel is being redefined. Through Avantier Motors we can offer a solution that delivers zero emissions via a highly efficient electric drive system, on an ample chassis with a surprisingly spacious interior,” said Peter Wang, Chairman and CEO of Cenntro. “The environment calls for OEMs to rethink how we combine innovation and technology to bring forward new solutions that support the movement of goods, service and, where market approved, passengers.”

Vehicle Features: Rear Engine Rear Wheel Drive, Macpherson Independent Suspension (front), Tri-link Non-Independent Suspension Read (read), EPS, ABS, Disc/Drum Brakes, Regenerative Braking, AC, Heat, Air bags, Electric Windows, Rear Camera, Reverse Sensors, Hill Assist

About Cenntro Electric

Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric 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.

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