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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 present a corporate overview at the LD Micro Main Event XV from October 25-27, 2022, at the Luxe Sunset Boulevard Hotel, Los Angeles. CEO Tom Wittenschlaeger will speak on October 25 at 2:30 PM PT in Track 5. The presentation can be watched by registering here. AYRO specializes in electric delivery vehicles for micro distribution and mobility. The company aims to provide sustainable e-delivery solutions that enhance brand value and user experience.
AYRO announces the appointment of David E. Hollingsworth as Chief Financial Officer, effective August 23, 2022. Hollingsworth, who previously served as interim CFO since January 2022, brings 16 years of financial experience, having improved reporting and inventory controls during his tenure. CEO Tom Wittenschlaeger expressed confidence in Hollingsworth's ability to support the company's growth strategy within the Low Speed Electric Vehicle industry, particularly with the upcoming AYRO Z platform. Hollingsworth holds an MBA and a bachelor's in accounting.
AYRO, Inc. (Nasdaq: AYRO), based in Texas, will announce its second quarter 2022 financial results on August 11, 2022, before market open. The Company focuses on designing and manufacturing electric vehicles for micro distribution and last-mile delivery. AYRO’s management will conduct a live conference call at 8:30 a.m. ET the same day to discuss financial results and corporate developments. Callers can join via phone or through a webcast accessible on their website. The replay will be available until November 11, 2022.
AYRO, Inc. (Nasdaq: AYRO) reported first-quarter financial results for 2022, showcasing record revenue of approximately $1.03 million, a 30% year-over-year and 26% sequential increase. The net loss decreased significantly to $4.6 million, down from $7.8 million in Q4 2021. The company holds $63.5 million in cash and has no debt. Development of the AYRO Z light-duty electric truck is on track for a year-end 2022 launch, with the first prototype in fabrication. AYRO anticipates continued revenue growth despite global supply chain challenges.
AYRO, Inc. (Nasdaq: AYRO) will report its first quarter 2022 financial results on May 2, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET to discuss the results and corporate updates. Interested parties can join by dialing in or via a live webcast. AYRO specializes in electric delivery vehicles designed for micro distribution and last-mile delivery, providing sustainable solutions to enhance brand value and user experience.
AYRO, Inc. (Nasdaq: AYRO) announced that CEO Thomas Wittenschlaeger will present a corporate overview at the Planet MicroCap Showcase 2022 from May 3 – 5, 2022, at The Bally’s Hotel & Casino, Las Vegas.
The presentation is scheduled for May 4 at 5:30 PM PT. A webcast link is available for online viewers. Wittenschlaeger will also hold one-on-one meetings with attendees. AYRO focuses on electric vehicles for micro distribution and last-mile delivery.
AYRO, Inc. (Nasdaq: AYRO) reported record revenue of $813,291 for Q4 2021, marking a 4% year-over-year increase and a substantial 45% sequential rise. The net loss narrowed by 35% from the previous quarter, with expectations of continued improvement in Q1 and Q2 2022. The company ended 2021 with $69.2 million in cash and no debt. AYRO is developing the AYRO Z light-duty electric utility truck, targeting a launch by year-end 2022, enhancing its market position. CEO Thomas Wittenschlaeger emphasized a focus on cost management and innovation despite supply chain challenges.
AYRO, Inc. (Nasdaq: AYRO) announces its year-end 2021 financial results will be reported on March 23, 2022, before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss the results and corporate developments, followed by a Q&A session. Interested parties can join by dialing specific numbers or via a live webcast accessible through AYRO's website. AYRO specializes in all-electric delivery vehicles aimed at sustainable logistics solutions, focusing on micro distribution and last-mile delivery.
AYRO, a designer of electric purpose-built delivery vehicles, announced that CEO Thomas Wittenschlaeger will present at the Q1 Investor Summit Conference virtually on March 9, 2022, at 8:45 AM ET. The company focuses on micro distribution and last-mile delivery solutions, aiming to provide sustainable fleets. Wittenschlaeger will also be available for one-on-one meetings during the event. For registration, interested parties can follow the link in the press release.
AYRO, Inc. (Nasdaq: AYRO) has provided a strategic update as of February 17, 2022, focusing on initiatives to enhance its supply chain by shifting from Asia to North America, aimed at reducing delivery times and costs. The demand for low-speed vehicles (LSVs) for food delivery is strong, supported by partnerships with Club Car and Gallery Carts. AYRO has cut senior staff expenses by 40% to control costs. As of September 30, 2021, AYRO maintains a healthy cash position of $77M with no debt. The company anticipates record revenue in Q4 2021 and continues to evaluate capital deployment options.
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