Company continues to actively create market opportunities for vehicle sales for the Vanish while leveraging $48 million cash position to optimize shareholder value
ROUND ROCK, TX / ACCESSWIRE / January 10, 2024 / AYRO, Inc. (NASDAQ:AYRO) ("AYRO" or the "Company"), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro distribution, micromobility and last-mile delivery, announces its upcoming participation in the 2024 PGA Show January 24-26, 2024, in Orlando, Florida. Those attending the 2024 PGA Show can find AYRO at Booth No. 2373.
"The PGA Show is an important opportunity to demonstrate our newest technology to an audience we have long considered among our best customers," said David Hollingsworth, AYRO's Operating Division's interim President. "We will continue to leverage these marketing opportunities and the $48 million in cash we have on our balance sheet to create optimal shareholder value over time."
AYRO will be featuring its low-speed electric vehicle (LSEVs) the Vanish.
The Vanish, which is available for order and through select partners in the U.S. and Canada, is a purpose-built utility LSEV unlike any other on the market.
About PGA Golf Exhibitions
Each year this exclusive trade-only event, gathers golf industry leaders and PGA of America Golf Professionals to network and test the newest products, programs, and ideas to inspire innovation, create solutions, and build business and passion for the game, according to pgashow.com. The PGA Show, PGA Buying & Education Summit are organized by PGA Golf Exhibitions (part of RX) and the PGA of America. Since its inception in 1954, the PGA Show has grown into the largest annual business event for the global golf industry. The PGA Show Buying & Education Summit connects the industry mid-season and drives business leading up to the annual PGA Show. Learn more at PGAShow.com and follow us on "X", Instagram and Facebook.
About AYRO
AYRO designs and produces zero emission vehicles and systems that redefine the very nature of sustainability. Our goal is to craft solutions in a way that leaves minimal impact on not only carbon emissions, but the space itself. From tire tread, fuel cells, sound, and even discordant visuals, we apply engineering and artistry to every element of our product mix. The AYRO Vanish is the first in this new product roadmap. For more information, visit ayro.com.
Forward Looking Statements
This press release may contain forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to be materially different from any expected future results, performance, or achievements. Words such as "allow," "anticipate," "believe," "can," "could," "estimate," "intend," "expect," "may," "plan," "will," "would" and their opposites and similar expressions are intended to identify forward-looking statements and include the development and launch of the AYRO Vanish. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: AYRO's success depends on its ability to complete the development of and successfully introduce new products; AYRO may experience delays in the development and introduction of new products; the ability of AYRO's suppliers to deliver parts and assemble vehicles; the ability of the purchaser to terminate or reduce purchase orders; AYRO has a history of losses and has never been profitable, and AYRO expects to incur additional losses in the future and may never be profitable; AYRO may be unable to replace lost manufacturing capacity on a timely and cost-effective basis, which could adversely impact its operations and ability to meet delivery timelines; the market for AYRO's products is developing and may not develop as expected and AYRO, accordingly, may never meet its targeted production and sales goals; AYRO's limited operating history makes evaluating its business and future prospects difficult and may increase the risk of any investment in its securities; AYRO may experience lower-than-anticipated market acceptance of its vehicles; developments in alternative technologies or improvements in the internal combustion engine may have a materially adverse effect on the demand for AYRO's electric vehicles; the markets in which AYRO operates are highly competitive, and AYRO may not be successful in competing in these industries; AYRO may become subject to product liability claims, which could harm AYRO's financial condition and liquidity if AYRO is not able to successfully defend or insure against such claims; increases in costs, disruption of supply or shortage of raw materials, in particular lithium-ion cells, chipsets and displays, could harm AYRO's business; AYRO may be required to raise additional capital to fund its operations, and such capital raising may be costly or difficult to obtain and could dilute AYRO stockholders' ownership interests, and AYRO's long term capital requirements are subject to numerous risks; AYRO may fail to comply with evolving environmental and safety laws and regulations; and AYRO is subject to governmental export and import controls that could impair AYRO's ability to compete in international market due to licensing requirements and subject AYRO to liability if AYRO is not in compliance with applicable laws. A discussion of these and other factors with respect to AYRO is set forth in our most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q. Forward-looking statements speak only as of the date they are made and AYRO disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Inquiries:
Forum Communications
Nick Kastner
678-943-3859
nick@forumspeaks.com
Investor Inquiries:
CORE IR
Louie Toma
516-222-2560
investors@ayro.com
SOURCE: AYRO, Inc.
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