Cenntro’s LS 200 EV model complements all EU vehicles

FREEHOLD, NJ, November 16, 2021 (GLOBE NEWSWIRE) – Cenntro Automotive (“Cenntro,” the “Company” or “We”), a commercial electric vehicle technology company providing advanced and market-validated commercial vehicles, has the pleasure to announce that its vehicle Logistar 200 (“LS 200”) has carried out all homologation tests in accordance with EU standards and requirements to obtain vehicle type approval N1. The LS 200 can now be sold and registered in all 27 EU countries as well as any other country that adopts EU vehicle homologation standards. The LS 200 is a versatile light electric utility vehicle customized for urban delivery and urban services, legitimate on the road.

Under the regulation of the European Commission, there are four general categories of vehicles in the European Union and each category includes more than one type. In general, category N refers to motor vehicles with at least four wheels and intended for the transport of goods.1. Vehicles intended for the transport of goods with a maximum mass not exceeding 3.5 tonnes are classified in type N1, which distinguishes light commercial vehicles from heavy or industrial types. Only vehicles that meet all the specific metric requirements for certain types of vehicles can be approved. Obtaining the N1 type approval means that the vehicle can access all concessions and incentives depending on the countries allowed by the N1 type approval.

“We are delighted that our LS 200 has completed all N1 type approval tests in the European Union and Cenntro is now ready to embark on an exciting new stage of growth in the EU market,” said Peter Wang, Chairman and CEO of Cenntro. “I am proud of our team’s efforts to take this important step earlier than expected. Obtaining N1 type approval for our LS 200 is proof that the advanced safety, cutting edge technology and premium customer experience we offer are recognized and are now also certified, thus making Cenntro a position of leader in the commercialization of a multi-billion dollar market in intra-urban urban transport across the European Union. Our LS 200 vehicles are now available for sale in 27 EU countries and any other country that meets EU vehicle standards. We are confident that we will see rapid sales and distribution in the European market and look forward to further developing our global presence while delivering value to all shareholders. “

About Centro Automotive Group

A commercial EV technology company with advanced, market-validated utility vehicles, which has entered into a definitive merger agreement with Naked Brand Group Limited (NASDAQ: NAKD) with Cenntro shareholders to own approximately 70% of the combined entity on a fully diluted basis. Cenntro is leading the transformation of the automotive industry through scalable, decentralized production and fully digital autonomous driving solutions powered by the Cenntro iChassis. Cenntro sold and delivered 3,300 commercial electric vehicles to more than 26 countries as of December 2020. For more information about the company, please visit www.cenntroauto.com.

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1 Source: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32018R0858

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