Cenntro Automotive (“Cenntro”, the “Company” or “We”), a leading EV technology company with advanced, market-validated commercial vehicles, today announced its first Logistar 200 vehicles rolled off the production line and are scheduled for December 2021 delivery to European markets.

The Logistar 200, or LS200, is a light urban delivery vehicle purpose-built to navigate European streets. The vehicle has a range of 190 miles, a one-ton payload and a cargo capacity of 247 cubic feet making it ideal for multiple applications including package delivery, hospitality, and catering, transportation, and storage. The initial production run follows the recent announcement that the LS200 completed all homologation tests in compliance with EU standards and requirements making it eligible for sale in all 27 countries in the EU, as well as any other countries that adopt EU vehicle homologation standards.

“We are pleased to announce this production milestone,” said Peter Wang, Cenntro's Chairman and Chief Executive Officer. “The LS200 expands our product offerings and complements the Metro with additional payload and range to meet market demand. The LS200 is a long-awaited EV and responds to customers’ needs, especially for Europe, one of our key markets. The production and availability of the LS200 will allow us to further penetrate the European market where increasing fleet emission standards and incentivization by regulatory bodies is a significant driver of growth in the commercial EV segment.”

About Cenntro Automotive Group

A leading EV technology company with advanced, market-validated commercial vehicles, which has entered into a definitive merger agreement with Naked Brand Group Limited (NASDAQ: NAKD) with Cenntro’s shareholders to own approximately 70% of the combined entity on a fully-diluted basis. Cenntro leads the transformation in the automotive industry through scalable, decentralized production and fully digitalized autonomous driving solutions empowered by the Cenntro iChassis. Cenntro has sold and delivered 3300 commercial EVs in more than 26 countries as of Dec 2020. For more information about the company, please visit www.cenntroauto.com.

For further information:

Investor Contact

IR@cenntroauto.com

Media Contact

PR@cenntroauto.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/42754562-060a-4f37-8d90-b0bdfcc8823chttps://www.globenewswire.com/NewsRoom/AttachmentNg/b517a201-c6f8-43b9-a116-ba048cd8360d

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