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 this time that via its partnership with GLV Ventures (GLV) it has secured its first buy order from one of many prime three automotive producers in america.
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 methods that redefine the very nature of sustainability. Our objective is to craft options in a approach that leaves minimal affect 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 info, go to www.ayro.com.
Ahead-Wanting Statements
This press release could comprise 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 completely different from any anticipated future outcomes, efficiency, or achievements. Phrases similar 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 presently out there to administration. Necessary elements that would trigger precise outcomes to vary materially from these indicated by such forward-looking statements embrace, with out limitation: AYRO’s success is dependent upon its potential to finish the event of and efficiently introduce new merchandise; AYRO could expertise delays within the improvement and introduction of latest merchandise; the power of AYRO’s suppliers to ship components and assemble automobiles; the power 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 extra losses sooner or later and will by no means be worthwhile; AYRO faces dangers related to litigation and claims; AYRO could also be unable to interchange 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 creating and will 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 will enhance the danger of any funding in its securities; AYRO could expertise lower-than-anticipated market acceptance of its automobiles; developments in different applied sciences or enhancements within the inner combustion engine could have a materially hostile impact on the demand for AYRO’s electrical automobiles; the markets during which AYRO operates are extremely aggressive, and AYRO is probably not profitable in competing in these industries; AYRO could turn out to be 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, specifically lithium-ion cells, chipsets and shows, may hurt AYRO’s enterprise; AYRO could also be required to boost extra capital to fund its operations, and such capital elevating could also be expensive 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 potential to compete in worldwide market as a consequence 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 elements with respect to AYRO is ready forth in our most up-to-date Annual Report on Kind 10-Okay and subsequent reviews on Kind 10-Q. Ahead-looking statements converse 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 info, future occasions or in any other case.
For investor inquiries:
CORE IR
buyers@ayro.com
516-222-2560
SOURCE: AYRO, Inc.
View the unique press release on accesswire.com