Ayro Inc Stock Price, News & Analysis

AYRO, a designer of electric delivery vehicles, served as the inaugural corporate sponsor for the Longhorn Racing Unveiling Event at the University of Texas at Austin on April 22, 2023. During the event, AYRO delivered the keynote address highlighting its commitment to sustainability and engineering education. The Longhorn Racing team, which operates under the Society of Automotive Engineers, showcases student innovation in vehicle design, including combustion, electric, and solar-powered racing cars. AYRO's CEO, Tom Wittenschlaeger, emphasized the importance of supporting future engineers through internships and partnerships with the university, reinforcing AYRO's focus on zero-emission vehicles and sustainable practices.

AYRO, Inc. (NASDAQ:AYRO) will present a corporate overview at the Planet MicroCap Showcase: VEGAS 2023, taking place from April 25-27, 2023, at the Horseshoe Hotel & Casino in Las Vegas, NV. CEO Thomas Wittenschlaeger is scheduled to present on April 26, 2023, at 9:30 AM Pacific Time. Investors and attendees can access the presentation via this webcast link. Additionally, Mr. Wittenschlaeger will hold one-on-one meetings throughout the conference. Interested parties can register for the event here. AYRO focuses on designing zero-emission vehicles and sustainable solutions, aiming to minimize environmental impact. For more about AYRO, visit ayro.com.

AYRO Inc. is set to showcase the 2023 AYRO Vanish at the NAFA Institute & Expo from April 17-19 in Baltimore, Maryland. This event is the largest for fleet and mobility professionals. The Vanish is a utility low-speed electric vehicle (LSEV) designed for micro distribution and last-mile delivery, featuring a lightweight structure that enhances payload capacity. AYRO claims the Vanish provides a sustainable alternative to gas-powered vehicles with 50% lower operating costs. The last-mile delivery market is projected to grow 15.62% by 2027, highlighting the demand for innovative delivery solutions. AYRO aims to connect with industry experts and fleet managers to showcase how the Vanish meets the needs of modern fleet operations.

ROUND ROCK, TX / ACCESSWIRE / March 27, 2023 / AYRO, a designer and manufacturer of electric delivery vehicles, announced that CEO Tom Wittenschlaeger will join a virtual panel on March 30, 2023, at 4:00 PM ET during Maxim Group's Electric Vehicle and Auto Tech Conference. The discussion, moderated by Senior Industrials Analyst Tate Sullivan, will cover future opportunities in the electric vehicle sector amid growing adoption and technological advancements. Investors interested in the panel can register online through M-Vest. AYRO focuses on producing zero-emission vehicles, aiming for sustainable solutions.

AYRO, Inc. (NASDAQ:AYRO) reported a significant improvement in its financial performance for FY2022, with revenues rising 11% to $3.0 million compared to $2.7 million in 2021. The company's net loss decreased to ($22.9) million from ($33.1) million year-over-year. Adjusted EBITDA loss also improved to ($18.5) million from ($25.0) million. AYRO ended 2022 with $48.9 million in cash and no debt. The introduction of the AYRO Vanish, a utility low-speed electric vehicle, and a new dealer program highlight the company's focus on innovation and market expansion. Management anticipates ramping production and achieving sales in the third quarter of 2023.

AYRO, Inc. has been awarded U.S. Patent No. 11609098, marking its second patent of the year, focused on environmental impact cancellation in electric vehicles. This patent supports the company's SchlägerNull™ approach, aimed at creating vehicles with minimal ecological disruption. The patent encompasses technologies for limiting surface, electromagnetic, noise, thermal, and visual impacts. AYRO's CEO, Tom Wittenschlaeger, emphasized that sustainability is central to their design philosophy. The utility patent allows AYRO to exclude others from using the invention for up to 20 years, reinforcing its commitment to innovative and sustainable transportation solutions.

AYRO is set to report its year-end 2022 financial results on March 23, 2023, before the market opens. Management will hold a conference call at 8:30 a.m. ET to discuss the financial outcomes and provide updates on corporate developments. Interested parties can join via a domestic or international phone line, or through a live webcast. A replay of the webcast will be accessible until June 23, 2023, while a telephonic replay will be available until April 6, 2023. AYRO specializes in designing zero-emission vehicles focused on sustainability and innovative engineering.