AUSTIN, TX / ACCESSWIRE / August 21, 2020 / AYRO, Inc. (NASDAQ:AYRO), a manufacturer of light-duty, urban and short-haul electric vehicles (EVs), today announced an initial order from Club Car for nine Club Car 411 electric vehicles to serve a military medical campus in the Northeast United States. This is the first Club Car 411 deployment that will serve a major medical center. The initial order has already been deployed and includes an opportunity for additional follow-on orders.
With this order, AYRO and Club Car are supporting the customer's goal to replace the facility's existing gas-powered vehicles with quieter, emissions-free alternatives that can achieve the diverse operational requirements of a medical campus. The Club Car 411 EVs will be used by various crews to perform facility and campus maintenance services and installations year-round and to transport a wide variety of equipment and parts.
Rod Keller, Chief Executive Officer of AYRO, Inc., commented, "We are pleased to announce this order, and are particularly proud that our zero-emissions Club Car 411 vehicles will be deployed on this campus to serve our recovering military personnel. Given our ability to deliver purpose-built solutions and deliver them quickly, medical facilities are just one of the many different venues and types of campuses that can benefit from the environmental, operational and economic solutions that the Club Car 411 provides. With over 6,000 hospitals in the U.S.(aha.org), we are excited to deploy our first all-electric trucks and vans into this market."
Club Car acts as AYRO's exclusive 411 distribution partner. A Club Car dealer closed the transaction and will provide service and maintenance support.
About AYRO, INC.
Texas-based AYRO, Inc. designs and delivers compact, emissions-free electric fleet solutions for use within urban and short-haul markets. AYRO's vehicles are capable of accommodating a broad range of commercial requirements. AYRO was founded in 2017 by entrepreneurs, investors, and executives with a passion to create sustainable urban electric vehicle solutions for Campus Management, Last Mile & Urban Delivery and Closed Campus Transport. For more information, visit: www.ayro.com.
About Ingersoll Rand and Club Car
Ingersoll Rand Inc. (IR), driven by an entrepreneurial spirit and ownership mindset, is committed to helping make life better. We provide innovative and mission-critical industrial, energy, medical and specialty vehicle products and services across 40+ respected brands designed to excel in even the most complex and harsh conditions where downtime is especially costly. Our employees connect to customers for life by delivering proven expertise, productivity and efficiency improvements. For more information, visit www.IRCO.com.
With over 60 years of experience of innovation and design in producing small-wheel vehicles, Club Car is a leading manufacturer of gas and electric golf, utility and personal transportation vehicles. Founded in 1958, the Club Car product portfolio has grown to include much more than golf cars, now encompassing vehicles for commercial and consumer markets, built with an uncompromised desire for superior performance. As an industry leader in electrification and sustainability, Club Car is proud to be on the forefront of environmentally responsible Zero Emission Vehicle (ZEV) technologies. For more information, visit www.clubcar.com
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 "anticipate," "believe," "could," "estimate," "expect," "may," "plan," "will," "would" and their opposites and similar expressions are intended to identify forward-looking statements and include the intended use of net proceeds from the registered direct offering. 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 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; the market for AYRO's products is developing and may not develop as expected; 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 relies on and intends to continue to rely on a single third-party supplier for the sub-assemblies in semi-knocked-down for all of its vehicles; 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, could harm AYRO's business; AYRO will 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 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 the Quarterly Report on Form S-10 for the quarterly period ended June 30, 2020, filed by AYRO on August 14, 2020. 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.
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SOURCE: AYRO, Inc.