ROUND ROCK, TX / ACCESSWIRE / December 16, 2024 / AYRO, Inc. (NASDAQ:AYRO) (“AYRO” or the “Company”), a designer and producer of electrical, purpose-built supply autos and options for micro distribution, micro-mobility, and last-mile supply, introduced immediately that by way of its partnership with GLV Ventures (GLV) it has secured its first buy order from one of many prime three automotive producers in the US.
Josh Silverman, AYRO’s Govt Chairman, commented, “This initial purchase order, which is from a top three automotive OEM, not only represents the first new business opportunity that we have secured since partnering with GLV, demonstrating our intention to leverage their low-cost facilities to expand our focus to securing design and manufacturing projects. It is also indicative of our ability to now generate new sources of revenue. We believe that this organic growth initiative is just the first step in diversifying our business and we look forward to providing further updates, when appropriate.”
About AYRO
AYRO designs and produces zero emission autos and techniques that redefine the very nature of sustainability. Our objective is to craft options in a means that leaves minimal affect on not solely carbon emissions, however the area itself. From tire tread, gas cells, sound, and even discordant visuals, we apply engineering and artistry to each ingredient of our product combine. The AYRO Vanish is the primary on this new product roadmap. For extra data, go to www.ayro.com.
Ahead-Wanting Statements
This press launch could comprise forward-looking statements. These forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger precise outcomes, efficiency or achievements to be materially completely different from any anticipated future outcomes, efficiency, or achievements. Phrases comparable to “anticipate,” “believe,” “could,” “estimate,” “intend,” “expect,” “may,” “plan,” “will,” “would” and their opposites and comparable expressions are supposed to establish forward-looking statements and embody the event and launch of the AYRO Vanish. Such forward-looking statements are based mostly on the beliefs of administration in addition to assumptions made by and knowledge presently accessible to administration. Vital components that would trigger precise outcomes to vary materially from these indicated by such forward-looking statements embody, with out limitation: AYRO’s success is dependent upon its skill to finish the event of and efficiently introduce new merchandise; AYRO could expertise delays within the growth and introduction of recent merchandise; the flexibility of AYRO’s suppliers to ship components and assemble autos; the flexibility of the purchaser to terminate or cut back buy orders; AYRO has a historical past of losses and has by no means been worthwhile, and AYRO expects to incur further losses sooner or later and should by no means be worthwhile; AYRO faces dangers related to litigation and claims; AYRO could also be unable to switch misplaced manufacturing capability on a well timed and cost-effective foundation, which may adversely affect its operations and skill to satisfy supply timelines; the marketplace for AYRO’s merchandise is growing and should not develop as anticipated and AYRO, accordingly, could by no means meet its focused manufacturing and gross sales objectives; AYRO’s restricted working historical past makes evaluating its enterprise and future prospects troublesome and should improve the danger of any funding in its securities; AYRO could expertise lower-than-anticipated market acceptance of its autos; developments in various applied sciences or enhancements within the inner combustion engine could have a materially opposed impact on the demand for AYRO’s electrical autos; the markets wherein AYRO operates are extremely aggressive, and AYRO will not be profitable in competing in these industries; AYRO could develop into topic to product legal responsibility claims, which may hurt AYRO’s monetary situation and liquidity if AYRO just isn’t in a position to efficiently defend or insure towards such claims; will increase in prices, disruption of provide or scarcity of uncooked supplies, particularly lithium-ion cells, chipsets and shows, may hurt AYRO’s enterprise; AYRO could also be required to lift further capital to fund its operations, and such capital elevating could also be pricey or troublesome to acquire and will dilute AYRO stockholders’ possession pursuits, and AYRO’s long run capital necessities are topic to quite a few dangers; AYRO could fail to adjust to evolving environmental and security legal guidelines and laws; and AYRO is topic to governmental export and import controls that would impair AYRO’s skill to compete in worldwide market on account of licensing necessities and topic AYRO to legal responsibility if AYRO just isn’t in compliance with relevant legal guidelines. A dialogue of those and different components with respect to AYRO is ready forth in our most up-to-date Annual Report on Kind 10-Ok and subsequent reviews on Kind 10-Q. Ahead-looking statements communicate solely as of the date they’re made and AYRO disclaims any intention or obligation to revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case.
For investor inquiries:
CORE IR
[email protected]
516-222-2560
SOURCE: AYRO, Inc.
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