Cenntro Announces Key Changes to the Board of Directors


FREEHOLD, NJ–(BUSINESS WIRE)–Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric utility vehicles , today announced the appointment of Dr. Yi Zeng to the board of directors and the resignation of Justin Davis Rice from the company’s board of directors.

Dr. Yi Zeng has held several leadership positions and brings over 30 years of experience in industry, research and education to Cenntro. Previously, he was a non-executive director of Range Resources Pty. Ltd (listed on both the London and Australian Stock Exchanges), Managing Director of Lomon (Australia) Pty Ltd, Asia-Pacific Regional Marketing Director of Titaniu and Senior Scientist at BHP Exploration. & Mining Technology, Melbourne, Australia. Dr. Zeng completed a PhD in Applied Geophysics at Victoria University of Wellington, New Zealand, which was the cornerstone of a prestigious academic study in geophysics, a postgraduate degree at the Geothermal Institute of University of Auckland, New Zealand, and a Masters in Applied Geophysical Exploration from Chengdu College of Geology, China.

“Mr. Davis Rice was instrumental to our Board of Directors while serving as Chairman and Board Member of Naked Brand Group, and we appreciate his continued service with Cenntro following the purchase transaction. last year’s successful stock event,” said Peter Wang, CEO of Cenntro Electric Group. “His service will be greatly missed and I am deeply grateful for his important contributions.”

“We are now privileged to welcome Dr. Zeng to the Board of Directors, an accomplished leader with strong managerial and technical expertise having held various technical and research positions in global companies. We believe his vast experience will be instrumental as we continue to focus on expanding our line of electric utility vehicle businesses and our presence in key North American, European and Asian markets.

Dr. Yi Zeng has been appointed for a term until the society’s 2023 annual meeting.

About Cenntro Electric Group Ltd.

Centro Electric Group Ltd. (or “Cenntro”) (NASDAQ: CENN) is a leading designer and manufacturer of light and medium electric utility vehicles (“ECV”). Cenntro’s purpose-built ECVs are designed to serve a variety of organizations in support of municipal services, last mile delivery and other commercial applications. Cenntro plans to lead the transformation of the automotive industry through scalable, decentralized production and intelligent driving solutions enhanced by the Cenntro iChassis. As of December 31, 2021, Cenntro has sold or put into service more than 3,700 vehicles in more than 25 countries in North America, Europe and Asia. For more information, please visit the Cenntro website at: www.cenntroauto.com.

Forward-looking statements

This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States 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”. , “want”, “aim”(s)”, “may”, “should”, “expect”, “estimate(s)”, “project(s)”, “forecast(s)”, ” positioned”, “approximately”, “potential”, “objective”, “strategy”, “outlook” and similar expressions. Examples of forward-looking statements include, among others, statements regarding assembly and distribution capabilities, distributed generation and fully digitized 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 those expressed or implied. in this communication. For additional risks and uncertainties that could affect Cenntro’s forward-looking statements, please see the information contained in Cenntro’s public filings with the SEC, including “Risk Factors” in Cenntro’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which can be viewed at www.sec.gov.


Contact with Investor Relations:

chris tyson

MZ North America


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