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AYRO, Inc. (NASDAQ: AYRO), founded in 2017 and headquartered in Round Rock, Texas, is a progressive company specializing in the design and manufacture of light-duty, emissions-free electric vehicles. AYRO's core business revolves around developing sustainable transportation solutions for urban and community transport, local delivery, and closed campus mobility. Their product line includes notable models like the AYRO 311, a versatile 3-wheeled vehicle for both professional and personal use; the Club Car 411, designed for low-speed logistics and cargo services on campuses; and the AYRO 511 4×4 concept vehicles.
AYRO's mission is to redefine sustainability through innovative electric vehicles. Their latest offering, the AYRO Vanish, leverages a new Common Core Chassis design platform, making it adaptable for various applications. This low-speed electric vehicle (LSEV) has garnered significant attention, especially after receiving all necessary regulatory certifications and entering Low-Rate Initial Production (LRIP). The Vanish is already in use by hospitality provider Cruising Kitchens and has been approved for easy import into Canada.
AYRO's commitment to innovation is underscored by their recent achievements, including the recognition of their first revenue from Vanish sales and the award of four additional patents. Financially, AYRO maintains a strong balance sheet with nearly $48 million in cash and marketable securities, positioning them well for future growth. The company is focused on optimizing its production processes to transition from LRIP to full production and aims to reach break-even per-unit costs by the second half of 2024.
Recent news highlights AYRO's strategic moves, such as their first fleet order for a Fortune 100 retailer and their inclusion in Transport Canada's Appendix G Pre-clearance Program, facilitating easier import of their vehicles into Canada. Additionally, AYRO's feature on the Viewpoint television series hosted by Dennis Quaid will further showcase their commitment to sustainable transportation solutions.
For more information, visit www.ayro.com.
AYRO, Inc. (Nasdaq: AYRO) will release its first quarter 2021 financial results on May 13 before the market opens. CEO Rod Keller and CFO Curt Smith will host a conference call at 8:30 a.m. ET to discuss the results and corporate developments. Interested parties can join the call or access a live webcast via AYRO's website. A replay will be available until August 13, 2021. AYRO designs electric vehicles aimed at sustainable urban mobility, emphasizing their commitment to eco-friendly transport solutions.
AUSTIN, April 15, 2021 (GLOBE NEWSWIRE) -- AYRO, Inc. (Nasdaq: AYRO) announced participation in the Benzinga Cleantech Small Cap Conference on April 22, 2021. CEO Rod Keller will present at 1:30 pm ET and join an EV Panel at 12:40 pm ET, discussing the 'Micromobility Revolution.' Attendees can book one-on-one meetings with management via investor relations. Registration for the conference and panel is available online. AYRO focuses on manufacturing electric vehicles for sustainable fleets, promoting zero-emission transportation alternatives.
AYRO, Inc. (Nasdaq: AYRO) reported an 80% increase in revenue for fiscal year 2020, totaling $1.6 million. However, the company faced a net loss of $11.2 million, which widened from $8.6 million in FY2019. Total cash surged to $36.5 million against $0.6 million a year earlier. Significant corporate strides include a strategic partnership with Element Fleet Management and the expansion of its Austin facility to enhance production capacity from 200 to 600 EVs/month. AYRO aims to lead in purpose-built electric vehicles focusing on commercial fleet solutions.
AYRO, Inc. (Nasdaq: AYRO) reported an 80% increase in revenue for FY2020, reaching $1.6 million, compared to $0.9 million in FY2019. However, the company also faced a net loss of $11.2 million, widening from $8.6 million the previous year. AYRO’s total cash increased significantly to $36.5 million from $0.6 million in FY2019, with minor debt of $0.02 million. Key milestones included a reverse merger with DropCar, a partnership with Karma Automotive, and the launch of an electric vaccine vehicle (EVV) aimed at enhancing vaccine distribution.
AYRO, Inc. (Nasdaq: AYRO), a designer and manufacturer of light-duty electric vehicles, will report its year-end 2020 financial results on March 31, 2021, before market opening. A conference call hosted by CEO Rod Keller and CFO Curt Smith will take place at 8:30 a.m. ET on the same day to discuss these results and corporate updates. Interested participants can listen via teleconference or live webcast. The conference replay will be available until June 30, 2021. AYRO is committed to providing sustainable fleet solutions through its innovative electric vehicle offerings.
AYRO, Inc. (Nasdaq: AYRO) has partnered with Element Fleet Management to support the deployment of electric delivery vehicles (EVs) over the next four years. Element, the world's largest pure-play automotive fleet manager, will provide fleet management services, financing, and consulting for AYRO's EVs. This collaboration aims to enhance client satisfaction and support large-volume deployments essential for businesses needing efficient, eco-friendly delivery solutions. The partnership targets clients initially in the U.S. and Canada, with potential global market expansion.
AYRO, Inc. (Nasdaq: AYRO), a manufacturer of electric vehicles, announced that CEO Rod Keller will present at the Maxim Group’s Inaugural Emerging Growth Virtual Conference on March 17-18, 2021. Investors can access the presentation post-registration and request one-on-one meetings with Keller after the conference. AYRO specializes in purpose-built electric vehicles aimed at sustainable fleets, including the AYRO 411 Club Car and AYRO 311 EV, which offer eco-friendly alternatives for logistics and urban transport.
AYRO has announced the launch of the Electric Vaccine Vehicle (EVV) in partnership with Element, Club Car, and Gallery Carts to enhance vaccine delivery amid ongoing distribution challenges. The EVV is designed for efficient, zero-emissions transportation of vaccines and testing. Key features include medical-grade storage, a compact size for better accessibility, and the ability to operate without specialized charging infrastructure. This initiative aims to improve access to vaccines for high-risk populations, especially in areas lacking transportation options.
AYRO, Inc. (NASDAQ: AYRO) announced a registered direct offering of 4,400,001 shares of common stock at $9.50 per share, raising approximately $41.8 million before expenses. Investors will also have the option to purchase an additional 3,300,001 shares at $11.50 per share within a year. The offering is expected to close around February 16, 2021. Proceeds will be used for working capital and general corporate purposes.
AYRO, Inc. (Nasdaq: AYRO) announced a registered direct offering of 3,333,334 shares of common stock at $6.00 per share, expecting to raise approximately $20 million before fees. The company will grant warrants for another 3,333,334 shares at $6.93, which are exercisable after six months. The offering is set to close around January 27, 2021. Proceeds will be used for working capital and corporate purposes. This offering follows a shelf registration declared effective by the SEC.
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