• State-Wide Tour Allows Hands-On Experience with New Low-Speed Electric Vehicle

ROUND ROCK, TX / ACCESSWIRE / July 25, 2023 / 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, announces it will be hosting a roadshow across the state of Texas to showcase the 2023 AYRO Vanish (the "Vanish"), the Company's new utility low-speed electric vehicle ("LSEV").

Beginning on August 2, 2023, the AYRO team will be traveling to cities across Texas to provide potential and current partners, dealers, and customers the opportunity to learn more about the Vanish and experience it in-person with hands-on demos, test drives, and Q&As. Applications for various use cases including those in medical, corporate and education campuses, hotels and resorts, stadiums and arenas, governments and municipalities, airports and more will be demonstrated and discussed.

"AYRO's design of the award-winning Vanish has been hailed for its functionality, creativity, and innovation, all without sacrificing sustainability," noted Tom Wittenschlaeger, CEO of AYRO. "This roadshow is an opportunity for current and potential partners and select customers to meet our team, ask questions, and experience our cutting-edge design first-hand."

The schedule for the Texas Roadshow is as follows:

All events will take place between 10:00 a.m. - 3:00 p.m. CT.

The Vanish has received incredible response for its innovative design and engineering and two accolades, including the Red Dot Award for Product Design and the Frost and Sullivan North American New Product Innovation Award. AYRO also holds 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.

The utility LSEV reaches speeds of up to 25 mph and features highly adaptable payloads to support both light- and heavy-duty operations. The Vanish features a maximum payload of 1,200 lbs and a range of 50 miles, with an average annual operating savings of up to 50% when compared to a gasoline-powered counterpart.

The Vanish is currently in homologation by both the United States and Canada, including the Federal Motor Vehicle Safety Standards (FMVSS) 500, 141 and 111 and Canada Motor Vehicle Safety Standards (CMVSS) 500. AYRO has also recently announced the Company has initiated testing for California Air Resources Board (C.A.R.B.) Certification, which has been established as the most rigorous zero-emissions vehicle standards in the country.

This event will kick off a series of Roadshow Events across the nation later this year. To learn more about the Texas Roadshow Event and reserve your spot, please visit: https://www.ayro.com/roadshow.

To pre-order and customize the 2023 AYRO Vanish or fleet of Vanish vehicles online, please visit: https://build.ayro.com/.

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.

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