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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) announced a new purchase order worth $2.9 million for its Club Car Current electric delivery vehicle, bringing total orders to $4.9 million since June 2021. This reflects strong market demand for the vehicle, which combines electric efficiency with customizable configurations. The Club Car Current is positioned for diverse use across various sectors such as universities and airports. With significant reductions in operating costs and weight compared to traditional vehicles, AYRO aims to capitalize on the growing demand for sustainable fleet solutions.
AYRO, Inc. (Nasdaq: AYRO) announced it will report its second quarter 2021 financial results on August 11, 2021, before market open. CEO Rod Keller and CFO Curt Smith will host a conference call at 8:30 a.m. ET to discuss the results and company updates, followed by a Q&A session. Interested parties can listen in via phone or through a live webcast accessible on the AYRO website. A replay of the webcast will be available until November 11, 2021. AYRO specializes in manufacturing electric vehicles designed for sustainable fleets.
AYRO, Inc. (Nasdaq: AYRO) announced that CEO Rod Keller will present at the Access to Giving Virtual Investor Conference from July 13 to 15, 2021. His presentation is scheduled for July 13 at 3:30 PM ET, with one-on-one meetings available throughout the event. AYRO specializes in light-duty electric vehicles for last-mile delivery, designed for sustainable fleets. Interested parties can register for the conference and request meetings via email. Founded in 2017, AYRO focuses on eco-friendly urban electric vehicle solutions.
On July 1, 2021, Karma Automotive's Innovation and Customization Center (KICC) in Moreno Valley, CA, unveiled the first Club Car Current vehicles produced under a contract with AYRO (NASDAQ: AYRO). These electric vehicles aim to bridge the gap between full-sized trucks and small utility carts for low-speed logistics. The partnership combines AYRO's market intelligence with KICC's manufacturing capabilities to deliver customizable electric delivery vehicles. The Club Car Current is CARB certified, showcasing zero emissions, and aligns with Karma's Climate Pledge goals to achieve net-zero carbon by 2040.
Gallery Carts has announced a partnership with OnCampus Brands to enhance food service delivery and retail sales using electric vehicles (EVs) in educational institutions. This collaboration aims to provide convenient, sustainable solutions for food service operators on K-12, college, and university campuses. The EVs, engineered by AYRO, offer cost-effective, customizable options, operating on 50% less fuel than gas-powered trucks. They meet sustainability goals and require minimal energy, needing just a standard outlet for charging. This partnership continues Gallery's expansion in the EV market.
AYRO, Inc. (NASDAQ: AYRO) announced an initial purchase order worth $2 million for the Club Car Current electric vehicle, indicating strong demand. This follows the product's launch and addresses the need for last-mile delivery solutions in urban areas. The 2022 model features enhanced safety and comfort, including a 50% weight reduction compared to gas vehicles and certified zero emissions. AYRO collaborates with Club Car for custom configurations, enhancing delivery potential for various industries, and supports sustainability goals.
AYRO, Inc., a designer and manufacturer of electric vehicles, announced that CEO Rod Keller will present a corporate overview at the LD Micro Virtual Invitational XI from June 8-10, 2021. Keller's presentation is scheduled for June 9 at 4:30 PM ET on Track 3. Interested investors can register to watch the presentation here. AYRO focuses on sustainable urban vehicle solutions.
Austin-based AYRO, a manufacturer of electric vehicles designed for short-haul and last-mile delivery, announced participation in the Investor Summit Conference on May 17, 2021. CEO Rod Keller will present at 3:30 PM ET, followed by one-on-one meetings with investors. AYRO's innovative electric vehicles, including the zero-emission AYRO 411 Club Car, cater to sustainable fleet needs, promoting eco-friendly urban solutions. For more details, visit www.ayro.com.
AYRO, Inc. (Nasdaq: AYRO) reported a revenue of $788,869 for Q1 2021, marking a 437% year-over-year increase and the sixth consecutive quarter of revenue growth. Despite a net loss of $5.6 million and an adjusted EBITDA loss of $3.8 million, the company maintains a strong cash position with $91.5 million and minimal debt. Recent agreements with Element Fleet Management and the launch of an Electric Vaccine Vehicle highlight AYRO's strategic partnerships aimed at expanding market reach.
AYRO, Inc. reported its fiscal Q1 2021 results, revealing a revenue increase of 437% year-over-year, totaling $788,869, marking six consecutive quarters of growth. However, the company recorded a net loss of $5.5 million and an adjusted EBITDA loss of $3.8 million. As of March 31, 2021, AYRO held $91.5 million in cash with total debt under $20,000. The company announced significant partnerships, including with Element Fleet Management and the launch of an electric vaccine vehicle to enhance access to COVID-19 vaccinations.
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