ROUND ROCK, TX / ACCESSWIRE / December 16, 2024 / AYRO, Inc. (NASDAQ:AYRO) (“AYRO” or the “Company”), a designer and producer of electrical, purpose-built supply automobiles and options for micro distribution, micro-mobility, and last-mile supply, introduced at the moment that by way of its partnership with GLV Ventures (GLV) it has secured its first buy order from one of many high 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 automobiles and programs that redefine the very nature of sustainability. Our objective is to craft options in a means that leaves minimal impression on not solely carbon emissions, however the house itself. From tire tread, gas cells, sound, and even discordant visuals, we apply engineering and artistry to each factor 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 might include forward-looking statements. These forward-looking statements contain identified and unknown dangers, uncertainties and different elements which can trigger precise outcomes, efficiency or achievements to be materially totally different from any anticipated future outcomes, efficiency, or achievements. Phrases equivalent to “anticipate,” “believe,” “could,” “estimate,” “intend,” “expect,” “may,” “plan,” “will,” “would” and their opposites and related expressions are supposed to establish forward-looking statements and embrace 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 data at the moment out there to administration. Necessary elements that might trigger precise outcomes to vary materially from these indicated by such forward-looking statements embrace, with out limitation: AYRO’s success is determined by its means to finish the event of and efficiently introduce new merchandise; AYRO might expertise delays within the growth and introduction of recent merchandise; the flexibility of AYRO’s suppliers to ship elements and assemble automobiles; 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 exchange misplaced manufacturing capability on a well timed and cost-effective foundation, which might adversely impression its operations and skill to satisfy supply timelines; the marketplace for AYRO’s merchandise is creating and should not develop as anticipated and AYRO, accordingly, might by no means meet its focused manufacturing and gross sales objectives; AYRO’s restricted working historical past makes evaluating its enterprise and future prospects tough and should enhance the danger of any funding in its securities; AYRO might expertise lower-than-anticipated market acceptance of its automobiles; developments in various applied sciences or enhancements within the inner combustion engine might have a materially opposed impact on the demand for AYRO’s electrical automobiles; the markets through which AYRO operates are extremely aggressive, and AYRO is probably not profitable in competing in these industries; AYRO might grow to be topic to product legal responsibility claims, which might hurt AYRO’s monetary situation and liquidity if AYRO isn’t in a position to efficiently defend or insure in opposition to such claims; will increase in prices, disruption of provide or scarcity of uncooked supplies, specifically lithium-ion cells, chipsets and shows, might 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 tough to acquire and will dilute AYRO stockholders’ possession pursuits, and AYRO’s long run capital necessities are topic to quite a few dangers; AYRO might fail to adjust to evolving environmental and security legal guidelines and rules; and AYRO is topic to governmental export and import controls that might impair AYRO’s means to compete in worldwide market attributable to licensing necessities and topic AYRO to legal responsibility if AYRO isn’t in compliance with relevant legal guidelines. A dialogue of those and different elements with respect to AYRO is ready forth in our most up-to-date Annual Report on Type 10-Okay and subsequent stories on Type 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 because of new data, future occasions or in any other case.
For investor inquiries:
CORE IR
buyers@ayro.com
516-222-2560
SOURCE: AYRO, Inc.
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