Low-Speed EV Manufacturer Begins California Air Resources Board Testing

ROUND ROCK, TX / ACCESSWIRE / June 22, 2023 / 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, today announces the 2023 AYRO Vanish (the "Vanish") has initiated certification testing by the California Air Resources Board (C.A.R.B.), which has established the most rigorous zero-emissions vehicle standards in the country.

C.A.R.B. is the lead agency for climate change programs, with a mission to protect the public from the harmful effects of air pollution, and to develop programs and actions to fight climate change.

Originally established in California in 1967, C.A.R.B. regulations have been adopted by seventeen other states, including Colorado, Connecticut, Delaware, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, as well as Washington D.C.

"We hold ourselves to an unrelenting standard when it comes to quality and sustainability. It's absolutely vital that the Vanish meets the most rigorous safety, environmental and technical requirements available for electric vehicles," noted Tom Wittenschlaeger, CEO of AYRO. "Our mission is not only to produce long-lasting, low-speed electric vehicles but to redefine the core expectations of sustainability and pioneer a new class of zero-emission vehicles."

The Vanish is a utility low-speed electric vehicle (LSEV) with a lightweight architecture that limits vehicle weight and maximizes payload. The Vanish offers highly adaptable configurations and is designed to serve as a sustainable alternative to gas-powered vehicles typically used in commercial fleets. The vehicle first entered homologation in May, for which testing included the Federal Motor Vehicle Safety Standards (FMVSS) 500 and 111 and Canada Motor Vehicle Safety Standards (CMVSS) 500.

Vehicles that undergo C.A.R.B. testing and approval must demonstrate compliance with the California Code of Regulations, Section 1962.2, Title 13 for "Zero Emission Vehicle Standards for 2018 through 2025 Model Year Passenger Cars, Light-Duty Trucks, and Medium-Duty Vehicles."

"It's imperative that we, as an industry, don't permit our zeal for production to eclipse minimizing the impact that these vehicles could ultimately have on the environment," continued Wittenschlaeger. "We're committed to not only abiding by these regulations but to setting the standard for other industry players for years to come."

AYRO has already been honored with two prominent awards in 2023, the Red Dot Award for Product Design and the Frost and Sullivan North American New Product Innovation Award. Additionally, AYRO has secured a design patent and two utility patents for the Vanish and has filed several others, along with numerous foundational patents in the field of sustainability.

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 "anticipate," "believe," "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's failure to meet the continued listing requirements of The Nasdaq Capital Market could result in a delisting of its common stock; 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 impact of public health epidemics, including the COVID-19 pandemic; 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:
Lizzy Harris
Pipit Communications
303-503-1136
lizzy@pipitcommunications.com

Nick Kastner
Forum Communications
678-943-3859
nick@forumspeaks.com

Investor Inquiries:
Joey Delahoussaye
CORE IR
516-222-2560
investors@ayro.com

SOURCE: AYRO, Inc.