Cenntro’s Avantier Motors Corporation Expands European Offerings with Launch of Avantier Ex and Avantier Commuter Electric Vehicles

Rhea-AI Summary

Cenntro's subsidiary, Avantier Motors , has launched two new electric vehicles for the European market: the Avantier Ex, a mini electric commercial vehicle, and the Avantier Commuter, an entry-level electric passenger car. The expansion follows the successful introduction of the Avantier C in late 2022, which sold over 500 units across Europe. The Avantier Ex is an EU Type L7e vehicle designed for last-mile delivery, while the Avantier Commuter is an EU Type M1 four-seat passenger car targeting urban commuters seeking affordable electric transportation.

Positive

• Successful market penetration with over 500 units of Avantier C sold across Europe
• Product line expansion with two new electric vehicle models
• Strategic entry into both commercial and passenger vehicle segments

Negative

• None.

Insights

Market Research Analyst

The launch of two new electric vehicle models by Cenntro's subsidiary shows moderate market potential but faces significant challenges. While the previous Avantier C's sales of 500 units demonstrates some market acceptance, it's a relatively modest number in the competitive European EV market. The expansion into both commercial (Avantier Ex) and consumer (Avantier Commuter) segments indicates a strategic diversification, but without pricing details or specific performance metrics, it's difficult to assess competitive advantages.

The last-mile delivery sector presents a growing opportunity, particularly with increasing e-commerce demands. However, Cenntro faces intense competition from established automakers and new EV entrants. With a market cap of just $38.8 million, the company's ability to scale production and maintain competitive positioning remains uncertain. The lack of specific sales targets, production capacity details, or financial projections makes this announcement's material impact unclear.

Strong Reception of the Avantier C Signaled Demand for Additional Models

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, announces its wholly owned subsidiary, Avantier Motors Corporation, has launched two new electric vehicle models tailored for the European market; the Avantier Ex, a mini electric commercial vehicle, and the Avantier Commuter, an entry-level electric passenger car. Both models join Avantier’s existing product line as the company continues its mission to revolutionize urban mobility through innovative, sustainable electric vehicles.

Avantier Ex, left, and Avantier Commuter, right (Photo: Business Wire)

Avantier Motors Corporation first introduced the Avantier C mini electric commercial vehicle in late 2022, capturing a substantial European market segment with over 500 units sold across various countries. The strong reception of the Avantier C signaled demand for additional models, leading to the development of the Avantier Ex and Avantier Commuter, each designed to meet specific needs in urban mobility.

The Avantier Ex, classified as an EU Type L7e electric mini commercial vehicle, is purpose-built for neighborhood delivery operations, offering an eco-friendly solution for the growing last-mile delivery sector. Its compact design, similar to the Avantier C, is ideal for navigating urban spaces with ease and efficiency. Meanwhile, the Avantier Commuter, an EU Type M1 electric vehicle, is a four-seat passenger car crafted to meet the demands of urban commuters seeking a sustainable, affordable entry-level electric option.

“We are very happy to announce our new vehicle models for the European market,” said Ethan Chen, President of Avantier Motors. “Our team worked tirelessly to bring these new vehicles to market after the success of the Avantier C. We remain committed to meeting market demands and will continue developing advanced electric vehicle models tailored to evolving transportation needs.”

About Avantier Motors Corporation

Headquartered in New Jersey, Avantier Motors Corporation is a U.S.-based leader in electric vehicle solutions for city and urban mobility. A wholly owned subsidiary of Cenntro Inc., Avantier Motors focuses on the European market, where its first mini electric commercial vehicle launched in 2022. With European Union Type Approval, Avantier has successfully expanded its footprint across Italy, Spain, Germany, France, Poland, and Hungary.

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 8 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/20241105458894/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 new electric vehicles did Cenntro (CENN) launch in Europe?

Cenntro launched two new electric vehicles: the Avantier Ex, a mini electric commercial vehicle for last-mile delivery, and the Avantier Commuter, an entry-level four-seat passenger car.

How many Avantier C vehicles has Cenntro (CENN) sold in Europe since 2022?

Cenntro has sold over 500 units of the Avantier C across various European countries since its launch in late 2022.

What are the vehicle classifications for Cenntro's (CENN) new Avantier models?

The Avantier Ex is classified as an EU Type L7e electric mini commercial vehicle, while the Avantier Commuter is classified as an EU Type M1 electric vehicle.