Cenntro Announces Introduction of New Logistar® 210 Model in European and Other Global Markets

Rhea-AI Summary

Cenntro has announced the launch of its new Logistar® 210 (LS210) model, a next-generation light-duty electric commercial van, set to enter European and global markets.

The LS210, with European N1 type approval, replaces the LS200 and complies with the latest EU regulations for cybersecurity and software update management. The vehicle features advanced driver-assistance systems, crash avoidance, lane assist, and offers both left-hand and right-hand drive.

CEO Peter Wang emphasized the company's commitment to developing vehicles that meet market demands and incorporate new technologies.

Positive

• Launch of LS210 in European and global markets.
• Compliance with EU cybersecurity and software update regulations.
• Advanced driver-assistance systems, crash avoidance, and lane assist features.
• Options for left-hand and right-hand drive.
• Commitment to new technologies and market demands.

Negative

• None.

Financial Analyst

The introduction of the new Logistar® 210 (LS210) comes at a pivotal time for Cenntro as it seeks to solidify its position in the competitive electric commercial vehicle market. The achievement of European N1 type approval and compliance with cybersecurity regulations is significant, as these certifications are mandatory for market entry in the EU. This strategic move could potentially increase Cenntro’s market share and revenue streams in Europe.

Short-term perspective: The launch may lead to an initial rise in stock price due to positive investor sentiment driven by compliance with stringent European regulations and the advanced features of the LS210. Long-term perspective: Sustained growth will depend on the vehicle's reception in the market, production efficiency and continued innovation. Financial metrics to watch include revenue growth from European markets and profit margins, which could be impacted by the costs associated with upgrading to meet these regulations.

Market Research Analyst

The European market is a strategic target for Cenntro, given the EU’s strong push towards electric vehicles (EVs) and stringent environmental regulations. The LS210's advanced driver-assistance systems (ADAS) and compliance with cybersecurity standards align well with consumer and regulatory demands. This strategic alignment is important for capturing market share in urban logistics, where light-duty electric vehicles are gaining popularity.

Investors should consider the potential market expansion and increased demand for sustainable urban transportation solutions. Monitoring market penetration, customer feedback and adoption rates in key cities will provide insights into the vehicle’s success. Additionally, Cenntro’s ability to keep pace with evolving regulations and technological advancements will be critical.

Tech Expert

The LS210’s compliance with recent UN regulations on cybersecurity (R155) and software updates (R156) is a significant technical achievement. These regulations ensure that vehicles are equipped with robust cybersecurity measures, which are increasingly important as vehicles become more connected. Additionally, the LS210’s advanced driver-assistance system (ADAS) features such as crash avoidance and lane assist offer enhanced safety for urban transportation, potentially reducing accident rates and improving operational efficiency for businesses.

This compliance not only ensures market entry but also positions Cenntro as a forward-thinking player in the EV market. Investors should look for future certifications and technical advancements that could further solidify Cenntro’s market position and drive technological leadership.

FREEHOLD, N.J.--(BUSINESS WIRE)-- Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric commercial vehicle company with advanced, market-validated, and purpose-built vehicles, today announced its newest Logistar series model, the Logistar® 210 (“LS210”) is to be sold in European and other global markets.

Cenntro Logistar® 210 (Photo: Business Wire)

The LS210 is a next generation commercial van with European N1 type approval and follows Cenntro’s December 2023 approval for the EU’s required Certificate of Compliance for Cybersecurity Management System (UN Regulation number: R155) and Certificate of Compliance for Software Update Management System (UN Regulation number: R156). These certifications provide frameworks and standards for vehicle original equipment manufacturers (“OEMs”) requiring vehicles to be designed with cybersecurity that maintains the safety and security of the vehicle and its passengers.

Cenntro’s LS210, a light duty electric commercial vehicle customized for transporting light goods in urban areas, replaces the LS200 because it meets these new European regulations. The LS210 model comes with advanced features, such as advanced driver-assistance system, crash avoidance, and lane assist. This new LS210 model also provides the option for both left-hand and right-hand drive capabilities, enhanced range and more efficient charging.

“We are working diligently to develop new vehicle models to align with the demands of the market,” said Peter Wang, CEO. “In keeping pace with new technologies, we will continue to develop models with enhanced features and continuously improve vehicle quality to meet the needs of our customers,” Wang concluded.

About Cenntro

Cenntro (NASDAQ: CENN) is a leading 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626765657/en/

Investor Relations Contact:

Chris Tyson

MZ North America

CENN@mzgroup.us

949-491-8235

Company Contact:

PR@cenntroauto.com

IR@cenntroauto.com

Source: Cenntro Inc.

FAQ

What is the new Cenntro Logistar® 210 model?

The Logistar® 210 (LS210) is a next-generation light-duty electric commercial van designed for transporting light goods in urban areas, featuring advanced driver-assistance and safety systems.

When will the Cenntro Logistar® 210 be launched?

Cenntro has announced the launch of the Logistar® 210 in December 2023 for European and other global markets.

What are the key features of the Cenntro Logistar® 210?

The LS210 includes advanced driver-assistance systems, crash avoidance, lane assist, enhanced range, more efficient charging, and options for both left-hand and right-hand drive.

Has the Cenntro Logistar® 210 received any certifications?

Yes, the LS210 has European N1 type approval and complies with the EU's cybersecurity (R155) and software update management (R156) regulations.

What market demands does the Cenntro Logistar® 210 address?

The LS210 meets demands for advanced safety features, compliance with new EU regulations, and efficient urban transportation solutions.