California Air Resources Board Certifies the Cenntro LS400 All-Electric Class 4 Electric Commercial Vehicle

Opens Vehicle to Sales and Incentive Programs Across the U.S.

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV and alternative fuel technology company with advanced, market-validated electric commercial vehicles, today announced that its All-Electric Class 4 Logistar 400 (“LS400”) received certification from the California Air Resources Board (“CARB”) as a zero-emission vehicle in the state of California.

The certification is awarded to vehicle manufacturers who meet specific emissions standards in compliance with CARB regulations. In December 2022, the LS400 received a certificate of conformity from the Environmental Protection Agency.

The certification also clears the way for the LS400 to be considered for the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”). Vehicles permitted into the HVIP program are eligible for monetary vouchers to reduce the total cost for the purchaser.

California as well as 14 other states have adopted vehicle standards under Section 177 of the Clean Air Act, which requires additional approvals beyond EPA regulations. Having received credentials from CARB and the EPA, Cenntro can now sell its LS400 in every state throughout the U.S.

“This is an important certification for Cenntro. As a next step, we will continue our efforts for consideration in all incentives programs to further support the adoption of the LS400 into fleets large and small,” said Peter Wang, Chairman and CEO. “This certification takes on greater significance with CARB’s recent Advanced Clean Truck regulation, which will require that all local delivery and governments fleets must be zero emissions by 2036.”

The Class 4 LS400 is designed primarily for urban delivery and freight covering two significant markets including city delivery fleet and upfitters. The vehicle can be upfit to serve a variety of applications and offers a payload of 7705 pounds, a charge time of under 1.5 hours and a range of 84-115 miles.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230626848346/en/