Press Event to Unveil Production iChassis on January 4, 2023

Booth Meetings with Management Available for Institutional Investors, Sell-Side and Industry Analysts

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it will showcase its vehicles at the upcoming 2023 Consumer Electronics Show (CES®), one of world’s largest technology trade shows taking place January 5-8, 2023 in Las Vegas. In conjunction with CES, the Company will also hold a press event on January 4^th to unveil its production version of the iChassis and hold investor meetings at its booth to provide an overview of Cenntro and discuss the future of Mobility.

“CES is the world’s leading event for showcasing the future of sustainable transportation and technology, and we are looking forward to presenting our fleet and iChassis to attendees,” said Peter Wang, Chairman and CEO of Cenntro. “Cenntro is dedicated to delivering Electric Vehicle solutions that municipalities and corporate fleets, both large and small, can utilize to reduce emissions without sacrificing performance. Our purpose-built ECVs are designed to support urban logistics and services, last-mile delivery and other commercial applications purpose-built for the demands of the city.

“Technology has become an integral differentiator in EV vehicles and transportation, and CES® is the most influential tech tradeshow worldwide to unveil Cenntro’s iChassis. The iChassis opens the promise of automated and autonomous driving to new applications and businesses today, moving beyond the roads and bringing autonomy to everyday commercial functions from warehouses to surveillance to mobile vending and delivery. We believe these functions are the sweet spot for adoption of automated and autonomous vehicles and will drive new innovation for the implementation of autonomy,” concluded Wang.

Cenntro Exhibit at Booth 5840

Cenntro’s exhibit at Booth 5840 in the West Hall will be an almost 10,000 square feet display of its complete All Electric Commercial product line. The exhibit will include the full Logistar line which features the versatile, compact cargo van, the LS100, the multi-purpose LS200 available in van or box truck configurations, the segment defining LS260 van and the Class 4 LS400 purpose-built for last mile delivery and urban services. Cenntro will also showcase its Off-Road Vehicle offerings, the TeeMak, and the Antric One, an auto grade four wheeled e-cargo bike purpose-built for delivery services and general cargo transport.

Press Event for All Electric iChassis

Cenntro's production version, state of the art All Electric iChassis, will make its world premiere at a press conference on Tuesday, January 4, 2023 at 12:00 pm at the Mandalay Bay Hotel, the venue for CES Press Conferences. The open-platform, fully programmable iChassis has been designed for automated and autonomous driving. The iChassis opens innovation to third-parties to develop their own software and design hardware to control and maneuver the vehicle and to develop new applications that are unique to their needs.

Investor Meetings & Mobility Dinner

Cenntro’s executive team will hold meetings with institutional investors, sell-side and industry analysts to learn more about the Company and its products at booth 5840 in the West Hall of the Las Vegas Convention Center January 5-8, 2023.

For more information or to request a booth meeting, please contact: ir@cenntroauto.com

About Cenntro Electric

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