Welcome to our dedicated page for AYRO news (Ticker: AYRO), a resource for investors and traders seeking the latest updates and insights on AYRO stock.
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 has secured a significant milestone with the issuance of U.S. Patent No. D975591 for the design of the AYRO Vanish, marking its entry into intellectual property protection. This patent is the first among several pending filings, including two additional design patents and six utility patents centered on sustainability. AYRO aims to revitalize the stagnant low-speed electric vehicle (LSEV) market by offering customizable vehicle configurations that blend functionality with innovation. CEO Tom Wittenschlaeger emphasizes the importance of intellectual property in enhancing enterprise value and advancing sustainable solutions.
AYRO, Inc. (NASDAQ:AYRO) has partnered with Masters Golf and Utility Vehicles in Ontario, Canada, marking the first collaboration under AYRO's new Dealer Program. This partnership will allow the AYRO Vanish to be available throughout Ontario and in Toronto, as the city looks to transition to electric fleet vehicles. Masters Golf, based in Oshawa, offers various utility cart solutions and has a fleet of 700 rental vehicles. The Dealer Program provides territory exclusivity, training, volume discounts, and financing options. Pre-orders for the AYRO Vanish will commence soon, signaling growth potential in the region.
AYRO, Inc. (NASDAQ:AYRO) will present a corporate overview at the Sidoti & Co. Micro Cap Virtual Conference on January 19, 2023, at 11:30 am ET. CEO Tom Wittenschlaeger will be available for one-on-one meetings during the event. The conference aims to showcase AYRO's electric delivery vehicles and sustainability-focused solutions. Interested attendees can register for the conference and request a meeting through the provided links. For more details on AYRO's zero-emission vehicles, visit www.ayro.com.
AYRO, Inc. (NASDAQ:AYRO) has completed the pre-production model of the AYRO Vanish, its first low-speed electric vehicle (LSEV) designed for utility applications. This vehicle features an all-aluminum chassis, allowing for both light-duty and heavy-duty configurations. CEO Tom Wittenschlaeger highlighted this milestone as crucial for further development and production planned for 2023. Alongside this, AYRO announced a new dealer program aimed at expanding market reach for the Vanish, targeting sectors like education, corporate, and urban delivery.
AYRO, Inc. announces an exclusive dealer program for its new AYRO Vanish, a low-speed electric vehicle (LSEV), enhancing market reach across North America. The Vanish features a corrosion-resistant all-aluminum chassis, versatile payload options, and is designed for various applications, including fleet operations for education, corporate campuses, and more. Dealers will benefit from territory exclusivity, training, volume discounts, and financing options. Pre-orders for the Vanish will start early next year, with production ramping up in 2023, positioning AYRO for expanded market presence.
AYRO, Inc. (Nasdaq:AYRO) will present a corporate overview at the Planet MicroCap Showcase: Virtual 2022 from December 6-8, 2022. CEO Tom Wittenschlaeger is scheduled to speak on December 7, 2022, at 10:30am ET. Interested parties can attend the conference and request one-on-one meetings with the CEO on the first day. AYRO focuses on designing zero-emission vehicles aimed at sustainable delivery solutions. For further information, visit www.ayro.com.
AYRO, Inc. (NASDAQ:AYRO) reported its 3Q22 financial results, revealing revenue of approximately $373,000 and a net loss of ($5.7) million, an improvement from ($12.0) million in 3Q21. The adjusted EBITDA loss was ($4.8) million, down from ($8.2) million in the prior year. The company holds $55.2 million in cash and marketable securities with no debt. AYRO also launched the Vanish, a new low-speed electric vehicle designed for urban delivery. Manufacturing is expected to ramp up in early 2023.
AYRO, Inc. (NASDAQ:AYRO) will report its third quarter 2022 financial results on November 3, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET for management to review the results and provide updates on corporate developments. Participants can join the call by dialing 1-833-953-2436 (domestic) or 1-412-317-5765 (international), or through a live webcast. AYRO designs zero-emission vehicles aimed at sustainability, and the AYRO Vanish is a key product in their new roadmap.
AYRO, Inc. (NASDAQ: AYRO) announced the launch of the AYRO Vanish, a low-speed electric utility vehicle designed for various applications. This milestone product features lightweight architecture, adaptable bed configurations, and a focus on sustainability, aligning with the growing LSV market, projected to increase by $5.5 billion from 2021 to 2027. The Vanish offers a maximum payload of 1,800 lbs and an estimated range of over 50 miles. Priced around $25,000, it addresses fleet management needs for compact, eco-friendly transport solutions.
FAQ
What is the current stock price of AYRO (AYRO)?
What is the market cap of AYRO (AYRO)?
What does AYRO, Inc. specialize in?
What are some of AYRO's key products?
Where is AYRO, Inc. headquartered?
When was AYRO, Inc. founded?
What recent achievements has AYRO made?
What is the AYRO Vanish?
How is AYRO performing financially?
Has AYRO expanded internationally?
How does AYRO contribute to sustainability?
Where can I find more information about AYRO?
