Smart Chassis Platform Demand Continues to Drive Expansion in China

FREEHOLD, N.J., February 07, 2025--(BUSINESS WIRE)--Cenntro Inc. (NASDAQ: CENN) ("Cenntro" or "the Company"), a pioneering innovator in electric commercial vehicles, with advanced, market-validated, and purpose-built vehicle and smart technology products, today announced that it delivered more than 1,000 autonomous driving delivery vehicles incorporating the iChassis 100 in the 2024 calendar year to third-party contractors in China.

The iChassis 100 is a smart chassis platform designed and manufactured by Cenntro, serving as a foundational component for autonomous commercial vehicles. To support large-scale production, Cenntro developed dedicated autonomous vehicle production lines and testing facilities, enabling the manufacture of various autonomous commercial vehicles.

In 2024, Cenntro produced and delivered over 1,000 autonomous delivery trucks utilizing its smart chassis platform for third-party contractors. Following its initial production phase in 2023, the Company experienced strong demand for its iChassis platform and autonomous vehicle manufacturing capabilities, both in China and abroad. The company believes this achievement underscores the growing demand for Cenntro’s advanced, market-validated, and purpose-built autonomous vehicle platforms.

Reflecting on this achievement, Peter Wang, CEO of Cenntro Inc., stated:
"Following the pilot production of our iChassis products, we witnessed significant demand from third-party contractors in China. Our autonomous vehicle production capabilities and iChassis platforms are being embraced by this growing industry, and we are pleased with the strong reception."

At present, Cenntro exclusively manufactures autonomous commercial vehicles for third-party contractors in China where the Company intends to expand its footprint, integrating their proprietary autonomous driving software and hardware.

About Cenntro

Cenntro (NASDAQ: CENN) is a pioneering maker and provider of electric commercial vehicles ("ECVs"). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. 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 10-K filed with the Securities and Exchange Commission on April 1, 2024 and which may be viewed at www.sec.gov.

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Contacts

Investor Relations Contact:
Chris Tyson
MZ North America
CENN@mzgroup.us
949-491-8235

Company Contact:
PR@cenntroauto.com
IR@cenntroauto.com