AYRO Gets Additional $2.9 Million Invest in Buy for

The purchase orders for the Club Car Present-day whole $4.9 million to date, demonstrating fast

The purchase orders for the Club Car Present-day whole $4.9 million to date, demonstrating fast expanding desire for the freshly-released, objective-created electric shipping and delivery car or truck in 2021

AUSTIN, TEXAS, Aug. 10, 2021 (World NEWSWIRE) — AYRO, Inc. (NASDAQ: AYRO), a designer and manufacturer of objective-created, quick-haul, and very last-mile shipping and delivery electric powered vehicles (EVs), these days announced the receipt of an additional invest in buy valued at $2.9 million for the 2022 Club Car Present-day. This will come practically two months following the announcement of the preliminary $2 million acquire purchase for the Club Motor vehicle Existing and brings complete orders to $4.9 million to day considering that the product’s introduction in June 2021, demonstrating robust demand for this compact and customizable delivery EV.

The Club Vehicle Present-day fills the hole in between complete-sized trucks and little utility carts, which tends to make it great for minimal-velocity logistics and cargo solutions for universities, dining establishments, governments, hospitals, resorts, sports activities stadiums, and airports. The all-electric powered style is engineered for various configurations – pickup, flatbed, and van box – and extras – ladder rack and Tommy Gate – for fleet flexibility and enhanced productiveness. Showcasing a 50% reduction in excess weight, roughly 49% reduction in yearly functioning charges, and 47% scaled-down footprint as opposed to classic fuel- or diesel-run vans or vans, the Club Car Recent is a sensible substitute from a lot of points of watch. This purpose-crafted EV is presently offered, which is significantly faster than competing professional electric vehicles set to hit the marketplace up coming 12 months. After its start in North The us in June, the Club Motor vehicle Latest introduced in Latin The us and the Caribbean to assist the increasing e-commerce market and prevail over neighborhood past-mile shipping and delivery challenges in all those areas.

“We are energized to establish on our effective partnership with Club Auto with this added purchase order for the Club Car or truck Present-day,” claimed Rod Keller, CEO of AYRO. “It is crystal clear that as corporations function to electrify their fleets, there is strong need for the Club Car Latest for its compact style and design, flexibility, and economical selling price.

The Club Car Latest is getting assembled by Karma Automotive at the condition-of-the-artwork Karma Innovation and Customization Center (KICC) in Moreno Valley, California. KICC’s source chain capabilities and sources allow for AYRO to swiftly reply to purchaser and current market requires inspite of field-broad supply chain shortages.

Gallery is customizing the Club Vehicle Latest to help the developing desire for on-board food and retail shipping selections. Their progressive solutions and patent-pending electricity method enable clients to deliver items directly to the level of desire, enabling users to grow their footprint whilst meeting sustainability goals throughout company and bigger instruction campuses, stadiums, resorts, and extra.

Component Fleet Management is also giving the Club Car or truck Current along with its funding, routine maintenance, roadside aid, and other fleet providers and answers.

ABOUT AYRO, INC.

Texas-dependent AYRO, Inc., engineers and manufactures reason-designed electric powered automobiles to permit sustainable fleets. With fast, customizable deployments that meet up with particular consumer demands, AYRO’s agile EVs are an eco-friendly microdistribution substitute to gasoline automobiles. The AYRO Club Automobile Present-day is the only zero-emission, goal-built EV known to AYRO that can be optimized for the requires of any sustainable fleet. AYRO innovates with velocity, discipline, and agility, and was launched in 2017 by entrepreneurs, traders and executives with a enthusiasm for creating sustainable city electrical car or truck remedies for micromobility. For a lot more facts, stop by: www.ayro.com.

ABOUT CLUB Car

With around 60 decades of expertise of innovation and design in manufacturing little-wheel motor vehicles, Club Car or truck is a foremost manufacturer of gasoline and electric powered golf, utility and own transportation vehicles. Founded in 1958, the Club Car product or service portfolio has grown to incorporate a great deal a lot more than golf vehicles, now encompassing autos for commercial and buyer markets, created with an uncompromised desire for excellent general performance. As an business chief in electrification and sustainability, Club Car is proud to be on the forefront of environmentally responsible Zero Emission Auto (ZEV) technologies. For far more information and facts, stop by www.clubcar.com.

ABOUT GALLERY

With 40 decades of working experience as the foremost producer of cell foodstuff, beverage, and merchandising carts and kiosks for use in stadiums, arenas, airports, browsing malls, and campuses, Gallery is revolutionary the use of personalized electric powered motor vehicles for retail and concession supply in these environments. Primarily based in Denver, Colorado, the loved ones-run organization has manufactured additional than 30,000 carts for about 5,000 venues in all 50 states and around the world. Find Gallery on the web at www.gallerycarts.com.

Forward Seeking STATEMENTS

This push launch could have ahead-wanting statements. These forward-wanting statements include known and unidentified risks, uncertainties and other aspects which might induce actual effects, performance or achievements to be materially different from any predicted potential final results, functionality, or achievements. Terms this sort of as “anticipate,” “believe,” “could,” “estimate,” “expect,” “may,” “plan,” “will,” “would” and their opposites and identical expressions are meant to detect ahead-on the lookout statements and include the intended use of internet proceeds from the registered immediate providing. These kinds of forward-on the lookout statements are based mostly on the beliefs of administration as perfectly as assumptions designed by and information and facts presently accessible to management. Significant elements that could trigger actual benefits to vary materially from all those indicated by these types of ahead-seeking statements involve, with no limitation: AYRO has a history of losses and has under no circumstances been lucrative, and AYRO expects to incur supplemental losses in the foreseeable future and may possibly never ever be profitable the sector for AYRO’s items is producing and may well not develop as envisioned and AYRO, appropriately, may possibly hardly ever meet up with its qualified generation and revenue goals AYRO’s minimal working background will make analyzing its organization and long run prospective clients challenging and may perhaps raise the chance of any expenditure in its securities AYRO may well expertise lessen-than-anticipated industry acceptance of its cars developments in different technologies or enhancements in the internal combustion motor might have a materially adverse result on the need for AYRO’s electric powered cars the marketplaces in which AYRO operates are extremely aggressive, and AYRO could not be profitable in competing in these industries AYRO relies on and intends to carry on to count on a one third-get together supplier for the sub-assemblies in semi-knocked-down for all of its motor vehicles AYRO might develop into subject to merchandise liability statements, which could damage AYRO’s economical issue and liquidity if AYRO is not capable to efficiently defend or insure from such statements improves in costs, disruption of offer or lack of raw components, in particular lithium-ion cells, could harm AYRO’s business enterprise AYRO will be necessary to raise additional funds to fund its operations, and these funds increasing may possibly be high priced or hard to attain and could dilute AYRO stockholders’ possession pursuits, and AYRO’s lengthy phrase capital necessities are matter to quite a few threats AYRO may fall short to comply with environmental and safety laws and laws and AYRO is matter to governmental export and import controls that could impair AYRO’s capacity to compete in international industry due to licensing specifications and issue AYRO to legal responsibility if AYRO is not in compliance with applicable regulations. A dialogue of these and other elements with regard to AYRO is established forth in our most the latest Annual Report on Form 10-K and subsequent reports on Type 10-Q. Ahead-looking statements discuss only as of the day they are produced and AYRO disclaims any intention or obligation to revise any ahead-on the lookout statements, whether or not as a final result of new information and facts, potential gatherings or otherwise.

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Media Inquiries:
AYRO, Inc.
Chelsea Lauber
Media Relations Get hold of
[email protected]

Club Auto
Trent Bailey
704-430-6759
[email protected]

Gallery Carts
Holly Sprague
[email protected]

Trader Inquiries:
AYRO, Inc.
CoreIR
Joseph Delahoussaye III
Vice President of Investor Relations
516-222-2560
[email protected]