AYRO Partners with GLV Ventures for Lower Cost Engineering and Manufacturing Based in the United States
CHECK OUT THE INVESTOR PRESENTATION HERE
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Hello Everyone,
We have a brand new profile that trades on the Nasdaq and is sitting well under a buck right now.
This company operates in one of the hottest sectors of the past 5-10 years and is bridging the gap in a major market with their niche vehicles that fill a void in the sector that has yet to be addressed.
Pull up AYRO immediately.
You are going to want to keep this one on your radar for the rest of the week.
AYRO designs and produces zero emission vehicles and systems that redefine the very nature of sustainability. Their 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. At AYRO, they strive to clarify true sustainability. They are not just about limiting our footprint, but removing our footprint all together – creating limited disruption.
The LSEV (Low-Speed Electric Vehicle) sector refers to a growing market of electric vehicles designed for short-distance travel, typically limited to a top speed of 25 to 35 mph (40 to 56 km/h). These vehicles are popular for use in urban environments, gated communities, resorts, and campuses, where their small size, energy efficiency, and lower cost make them ideal alternatives to conventional cars. LSEVs are typically powered by small battery packs and can be charged via standard outlets, making them accessible for everyday use. As cities become more congested and demand for sustainable transportation grows, the LSEV sector is experiencing expansion, driven by technological advancements, increasing environmental awareness, and government incentives. This niche sector is expected to continue to evolve as part of the broader shift toward electric mobility, with innovations in design, battery technology, and connectivity features.
The AYRO Vanish
The AYRO Vanish is purpose-built, innovative, and highly customizable to meet any need in last-mile delivery, micro distribution, and campus / facility mobility needs.
The lightweight architecture of the AYRO Vanish is designed to limit vehicle weight and maximize payload capacity. The vehicle offers highly adaptable bed configurations to support both light- and heavy-duty needs in a variety of applications.The Vanish is a purpose-built, innovative, and highly customizable LSEV unlike any other on the market to support campus mobility, last-mile delivery and micro distribution needs.
The AYRO Valet (Coming Soon)
AYRO Partners with GLV Ventures for Lower Cost Engineering and Manufacturing Based in the United States
PUBLISHED
DEC 4, 2024 9:15AM EST
Beginning with the Company’s Vanish electric vehicle, AYRO will utilize GLV’s lower cost U.S.manufacturing footprint to add new partnerships and secure new purchase orders
ROUND ROCK, TX / ACCESSWIRE / December 4, 2024 / AYRO, Inc. (NASDAQ:AYRO) (“AYRO” or the “Company”), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro-distribution, micro-mobility, and last-mile delivery, today announced a partnership with GLV Ventures for the engineering and manufacturing of the Company’s electric vehicle, the Vanish. The relationship will launch with the re-engineering and manufacturing of the Vanish in the United States using its original specifications.
Josh Silverman, AYRO’s Executive Chairman, commented, “We are partnering with GLV to redesign the Vanish vehicle to produce a more viable vehicle using lower-cost production and engineering methods, while also ensuring that the vehicle is made in America at GLV’s Beeville, Texas manufacturing facility. We believe that there is a significant market for low-speed EVs, like the Vanish, and we are dedicated to prudent and careful application of capital and resources to optimize its manufacture and distribution, all while ensuring that these vehicles are made in America. While GLV’s low-cost manufacturing should help enable us to redesign the Vanish, improve unit profitability and enhance competitiveness in the global market, our principal objective is to leverage this relationship to secure additional partnerships and drive new orders. We look forward to providing progress updates on this and future projects.”
GLV Ventures has been producing high-quality niche product tooling and production vehicle assemblies since its founding in 1996. GLV has full homologation and certification capabilities from inception to completion. Its capabilities include chassis manufacturing, vacuum thermoforming, carbon fiber and open molding infusion products for exterior body panels on specialty vehicles and other niche product applications. Lower cost tooling, part design, readily available materials and faster tooling times are all value-added aspects of GLV’s offering, which provides the best technology from diversified industries. GLV boasts a successful vehicle department history, deep understanding of worldwide automotive certification and homologation processes, existing production facilities and processes, and established supplier relationships.
NEWS
AYRO Partners with GLV Ventures for Lower Cost Engineering and Manufacturing Based in the United States6 days agoAYRO Appoints New Management Team to Re-Engineer and Revamp a Lower Cost Low-Speed Electric VehicleAug 21, 2024AYRO Reports Year-End 2023 Financial Results and Provides Corporate UpdateApr 9, 2024
AYRO Appoints New Management Team to Re-Engineer and Revamp a Lower Cost Low-Speed Electric Vehicle
Appoints new President of operating division and new CFO
ROUND ROCK, TX / ACCESSWIRE / August 21, 2024 / AYRO, Inc. (NASDAQ:AYRO) (“AYRO” or the “Company”), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro distribution, micro-mobility, and last-mile delivery, today announced that it has appointed Joseph Ramelli as AYRO’s new Chief Financial Officer and Gilbert Villarreal as President of AYRO’s operating subsidiary.
Joseph Ramelli has vast experience in various management roles, including chief executive officer, chief financial officer and president. Mr. Ramelli also has over 15 years of experience in varied roles at investment firms. AYRO believes that Mr. Ramelli’s management and capital markets experience will be instrumental in managing AYRO’s strong cash position and employing prudent financial rigor as AYRO continues to work towards bringing its innovative electrical vehicles to market, while also managing costs and maximizing profits.
Gilbert Villarreal is the founder of GLV Ventures, a leader in the design and production of a variety of vehicles including electric vehicles. GLV Ventures is known for its advanced manufacturing in a timely, cost-effective manner. Founded by Mr. Villarreal, GLV Ventures has operated in the manufacturing and design space for 25 years. GLV and its affiliate, EVESSA, are Tier 1 consulting and manufacturing companies that have produced electric vehicles and non-electric vehicles for several of the leading OEMs and Fortune 100 companies.
Josh Silverman, AYRO’s Executive Chairman, commented, “These high value additions to our management team are exactly what we need to move the Company forward. Gilbert, through his extensive experience in designing and developing electric vehicles in a cost-effective manner, will enable AYRO to offer Vanish at a significantly reduced cost. We believe this minimal lower risk investment in re-engineering our vehicles is an appropriate next step for AYRO. With a strong balance sheet, including $37 million in cash and cash equivalents as of the quarter ended June 30, 2024, we are well positioned to move the Company forward and maximize stockholder value. Redesigning the Vanish to be produced in a more cost-effective manner is the first step towards this goal. We also continue to evaluate other alternatives to maximize stockholder value, including M&A and/or capital investment opportunities.”
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