LM650 Class 6 Zero Emission Vehicle to be Showcased Along with Cenntro LS400 Municipal Waste Truck Upfitted by Robostreet

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV and alternative fuel technology company with advanced, market-validated electric commercial vehicles, will unveil the Logimax 650 (“LM650”), an ell electric powered Class 6 Truck, at the upcoming WasteExpo 2023, taking place May 1 - 4 at the Ernest N. Morial Convention Center in New Orleans.

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Cenntro LS400 Municipal Waste Truck Upfitted by Robostreet (Photo: Business Wire)

The LM650 is a medium truck with a total weight of 12 tons and is designed for intracity and short-haul applications. The semi-tractor’s electric motors are fully powered by a 218-kWh lithium-ion phosphate battery pack that will offer 155 miles of range and the ability to DC fast-charge in 1.5 hours.

“We are very pleased to debut the Logimax 650 All Electric Class 6 Truck at WasteExpo 2023, North America’s largest solid waste, recycling, organics and sustainability industry event. The LM650 will allow Cenntro to provide customers with additional choices for zero emissions in a quiet and sustainable vehicle,” said Peter Wang, Cenntro Chairman and CEO. “We understand that no two customers are alike and Cenntro’s ability to provide a full product line of All Electric Commercial vehicles from Class 1 to Class 8 positions our brand well to respond to growing demand for sustainable, zero emissions vehicles.”

The LM650 will be on display with Cenntro’s upfit partner Robostreet in the Robostreet booth #5053 at WasteExpo 2023 where Robostreet will also display a Cenntro LS400 upfit as a 6 cu yard – 8 cu yard electric refuse truck with a sealed hopper and crusher panel to prevent debris fallout. The municipal waste and recycling truck is ideal for cities & municipalities, landfills and transfer stations, Transit authorities, airports and seaports, malls, casinos, amusement parks and educational & sports facilities.

About WasteExpo

WasteExpo is the leading event in North America for waste, recycling and organics professionals from the private and public sector. WasteExpo offers an interactive conference program that dives deep into vital industry topics such as recycling, landfills, fleet management, collections, organics, safety, food waste and recovery, and more. WasteExpo also boasts a robust Exhibit Hall showcasing hundreds of exhibitors and the latest industry solutions. WasteExpo is co-located with the Waste360 Investor Summit, the Waste360 Healthcare Waste Conference and Waste360 Sustainability Talks.

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.

About Robostreet

Robostreet's mission is to revolutionize the waste management industry by introducing zero-emission, driverless and electric garbage trucks that are quieter, safer and smarter than traditional diesel trucks. We are committed to creating a greener, cleaner and more efficient waste collection system that reduces the impact of waste management on the environment and the community. Robostreet trucks are designed to improve safety and reduce noise pollution, making waste collection a more pleasant experience for everyone. Through the integration of cutting-edge technology and innovative design, Robostreet aims to provide an unparalleled waste management solution that is both environmentally responsible and economically viable. www.robo-street.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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