Item 1.02 Termination of a Material Definitive Agreement.

As previously reported on Current Report on Form 8-K filed on September 1, 2020, LMP Automotive Holdings, Inc., a Delaware corporation (the "Company") previously entered into an Asset Purchase Agreement on August 28, 2020 (the "APA") with Beckley Buick-GMC Auto Mall, Inc., a West Virginia corporation ("BBGAM"), King Coal Chevrolet Co., a West Virginia corporation ("KCC") and Hometown Preowned Vehicles, Inc., a West Virginia corporation ("HPV" and, together with BBGAM and KCC, the "WV Sellers"), to acquire an 85% interest in certain of the WV Sellers' assets related to the ownership and operation of certain new and used Buick, GMC, Chevrolet, Hyundai, Kia and Subaru motor vehicle dealerships located in West Virginia. On December 31, 2021, the Company's acquisition of the WV Sellers' Hyundai motor vehicle dealership was terminated in accordance with the terms of the APA. The Company did not incur any material termination penalties pursuant to such termination. The description of the APA and the transactions contemplated thereby are incorporated by reference to the Company's Current Report on Form 8-K filed on September 1, 2020.


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