AYRO Gets Supplemental $2.9 Million Obtain Purchase for Club Vehicle Existing EV | News

The invest in orders for the Club Auto Recent full $4.9millionto day, demonstrating fast raising

The invest in orders for the Club Auto Recent full $4.9millionto day, demonstrating fast raising demand from customers for thenewly-launched,goal-builtelectric shipping car or truck in 2021

AUSTIN, TEXAS, Aug. 10, 2021 (World NEWSWIRE) — AYRO, Inc. (NASDAQ: AYRO), a designer and producer of objective-crafted, limited-haul, and last-mile shipping electrical autos (EVs), today declared the receipt of an supplemental buy order valued at $2.9 million for the 2022 Club Car Recent. This will come almost two months right after the announcement of the initial $2 million buy order for the Club Car Present and provides total orders to $4.9 million to date because the product’s introduction in June 2021, demonstrating strong need for this compact and customizable shipping EV.

The Club Vehicle Latest fills the hole among whole-sized vehicles and compact utility carts, which helps make it ideal for low-pace logistics and cargo products and services for universities, dining establishments, governments, hospitals, resorts, sporting activities stadiums, and airports. The all-electric powered layout is engineered for multiple configurations – pickup, flatbed, and van box – and components – ladder rack and Tommy Gate – for fleet flexibility and increased productivity. That includes a 50% reduction in excess weight, around 49% reduction in yearly running charges, and 47% scaled-down footprint when compared to classic fuel- or diesel-powered vans or vans, the Club Vehicle Current is a smart replacement from quite a few factors of view. This purpose-developed EV is now out there, which is considerably faster than competing professional electric powered vehicles established to strike the sector future calendar year. Just after its launch in North The usa in June, the Club Auto Present-day released in Latin The us and the Caribbean to assistance the escalating e-commerce industry and overcome community past-mile shipping issues in those people regions.

“We are energized to develop on our productive partnership with Club Car or truck with this extra buy buy for the Club Car or truck Recent,” stated Rod Keller, CEO of AYRO. “It is crystal clear that as businesses function to electrify their fleets, there is robust need for the Club Motor vehicle Recent for its compact design and style, flexibility, and affordable cost.

The Club Car or truck Recent is becoming assembled by Karma Automotive at the condition-of-the-artwork Karma Innovation and Customization Middle (KICC) in Moreno Valley, California. KICC’s offer chain abilities and methods enable AYRO to quickly reply to customer and market place needs in spite of sector-extensive provide chain shortages.

Gallery is customizing the Club Motor vehicle Latest to aid the developing need for on-board foodstuff and retail delivery choices. Their revolutionary remedies and patent-pending ability method let prospects to deliver products specifically to the point of demand, enabling end users to expand their footprint when assembly sustainability objectives across company and higher training campuses, stadiums, accommodations, and far more.

Aspect Fleet Management is also supplying the Club Automobile Recent along with its financing, upkeep, roadside help, and other fleet products and services and remedies.

ABOUT AYRO, INC.

Texas-dependent AYRO, Inc., engineers and manufactures purpose-designed electric cars to allow sustainable fleets. With speedy, customizable deployments that satisfy particular consumer demands, AYRO’s agile EVs are an eco-helpful microdistribution choice to gasoline vehicles. The AYRO Club Vehicle Recent is the only zero-emission, goal-created EV identified to AYRO that can be optimized for the needs of any sustainable fleet. AYRO innovates with pace, self-control, and agility, and was founded in 2017 by entrepreneurs, investors and executives with a enthusiasm for generating sustainable urban electric powered car or truck solutions for micromobility. For a lot more details, check out: www.ayro.com.

ABOUT CLUB Motor vehicle

With around 60 years of encounter of innovation and layout in creating little-wheel autos, Club Automobile is a foremost manufacturer of gas and electric golf, utility and personal transportation autos. Launched in 1958, the Club Car merchandise portfolio has grown to consist of a lot a lot more than golfing vehicles, now encompassing vehicles for commercial and buyer markets, designed with an uncompromised wish for top-quality general performance. As an field chief in electrification and sustainability, Club Vehicle is happy to be on the forefront of environmentally liable Zero Emission Auto (ZEV) systems. For much more information, visit www.clubcar.com.

ABOUT GALLERY

With 40 several years of practical experience as the primary maker of mobile meals, beverage, and merchandising carts and kiosks for use in stadiums, arenas, airports, buying malls, and campuses, Gallery is pioneering the use of custom electric cars for retail and concession shipping in these environments. Based mostly in Denver, Colorado, the relatives-operate organization has produced much more than 30,000 carts for around 5,000 venues in all 50 states and around the globe. Find Gallery on the internet at  www.gallerycarts.com.

Forward Looking STATEMENTS

This press launch may possibly consist of ahead-hunting statements. These ahead-wanting statements include recognised and mysterious hazards, uncertainties and other variables which could bring about actual benefits, effectiveness or achievements to be materially diverse from any predicted long term results, performance, or achievements. Terms these as “anticipate,” “believe,” “could,” “estimate,” “expect,” “may,” “plan,” “will,” “would” and their opposites and equivalent expressions are meant to recognize forward-wanting statements and incorporate the intended use of net proceeds from the registered immediate featuring. These forward-looking statements are based mostly on the beliefs of management as properly as assumptions manufactured by and data at the moment offered to administration. Essential components that could induce real results to vary materially from individuals indicated by this sort of forward-wanting statements incorporate, with no limitation: AYRO has a background of losses and has hardly ever been financially rewarding, and AYRO expects to incur more losses in the potential and may in no way be successful the industry for AYRO’s items is establishing and may possibly not develop as envisioned and AYRO, accordingly, may possibly in no way meet its specific generation and sales aims AYRO’s minimal functioning history makes analyzing its company and upcoming prospective buyers challenging and may improve the hazard of any expenditure in its securities AYRO may well knowledge lower-than-predicted market acceptance of its motor vehicles developments in option technologies or advancements in the inner combustion engine may perhaps have a materially adverse outcome on the need for AYRO’s electric automobiles the marketplaces in which AYRO operates are hugely aggressive, and AYRO might not be successful in competing in these industries AYRO depends on and intends to keep on to count on a single 3rd-occasion provider for the sub-assemblies in semi-knocked-down for all of its cars AYRO may well become subject to product or service legal responsibility statements, which could hurt AYRO’s money condition and liquidity if AYRO is not equipped to successfully protect or insure from this kind of promises boosts in expenditures, disruption of offer or scarcity of uncooked elements, in individual lithium-ion cells, could harm AYRO’s company AYRO will be demanded to elevate more funds to fund its operations, and these cash boosting may perhaps be pricey or tough to get and could dilute AYRO stockholders’ possession pursuits, and AYRO’s very long phrase capital specifications are subject to a lot of threats AYRO may possibly fail to comply with environmental and security guidelines and polices and AYRO is subject to governmental export and import controls that could impair AYRO’s means to contend in global current market owing to licensing specifications and matter AYRO to legal responsibility if AYRO is not in compliance with applicable legal guidelines. A discussion of these and other things with respect to AYRO is set forth in our most current Annual Report on Variety 10-K and subsequent stories on Type 10-Q. Forward-seeking statements speak only as of the date they are created and AYRO disclaims any intention or obligation to revise any forward-wanting statements, no matter whether as a result of new info, upcoming events or in any other case.

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Media Inquiries: AYRO, Inc. Chelsea Lauber Media Relations Call [email protected]

Club Motor vehicle Trent Bailey 704-430-6759 [email protected]

Gallery Carts Holly Sprague [email protected]

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