Cenntro Electric Group Announces Delivery of More than 250 Autonomous Driving Delivery Vehicles

Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it has delivered more than 250 autonomous delivery vehicles in China to Zelos (Suzhou) Technology Co., Ltd. (“Zelos”).

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Zelos Autonomous Delivery Vehicles (Photo: Business Wire)

Cenntro’s Zhejiang Cenntro Machinery Co., Ltd. has manufactured and delivered more than 250 autonomous driving delivery vehicles to Zelos, which sells and operates autonomous driving vehicles for urban delivery throughout various cities in China. In conjunction with the cooperation with Zelos, Cenntro has successfully manufactured and provided fully tested autonomous delivery vehicles for commercial deployments on city streets. Powered by Cenntro’s iChassis technology and platform, utilizing autonomous driving software developed by Zelos, these vehicles are prepared to meet the demands of urban delivery, with the ability to navigate traffic in real time and arrive to their destinations as scheduled.

“The delivery of more than 250 autonomous driving delivery vehicles is a significant milestone for Cenntro. To date, Cenntro has manufactured and delivered many autonomous driving delivery solutions for real-life commercial deployments in this class,” said Peter Wang, Chairman and CEO of Cenntro. “We will see more and more autonomous driving delivery vehicles on the road for the last-mile delivery needs. We are very happy to see that our iChassis technology has been adopted and used in real-life applications.”

About Zelos Technology

Zelos (Suzhou) Technology Co., Ltd. was established in August 2021, focusing on the research and development and large-scale application of artificial intelligence and chip technology, and it is a leading company in the world with standardized products and applications for open-road pure driverless implementation.

For more information, please visit www.zelostech.com.cn/EN/.

About Cenntro Electric Group Ltd.

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 plans to lead the transformation in the automotive industry 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 10K/A filed with the Securities and Exchange Commission on July 6, 2023 and which may be viewed at www.sec.gov.

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