Growth Strategy Boosted AYRO Stock By More Than 10%

Ayro, Inc. (NASDAQ: AYRO) shares exhibited a notable uptick of 10.60% during the Wednesday trading session, concluding at $2.02. This positive momentum in Ayro’s stock price was instigated by a pivotal development in the Canadian market, a disclosure made by the company.

Ayro Inc (AYRO) disclosed its successful inclusion in Transport Canada’s Appendix G Pre-clearance Program, thereby attaining official recognition as a foreign manufacturer of new Canadian specification low-speed vehicles. Consequently, Canadian commercial importers now face streamlined procedures when importing AYRO’s new Canadian-compliant vehicles.

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The inaugural offering in this category is the AYRO Vanish LSEV, a versatile low-speed electric vehicle equipped with adaptable bed configurations catering to diverse requirements in fleet, commercial, and personal usage scenarios. AYRO orchestrated a live test drive event at its headquarters in Round Rock, Texas, marking a significant occasion that saw the participation of potential partners, customers, and regional business executives.

This event marked the public’s first hands-on experience with the Vanish. Attendees not only had the opportunity to test drive the vehicle but also engaged in direct conversations with AYRO engineers and toured the company’s facilities. Feedback from participants indicated a high level of satisfaction with the Vanish’s drivability and comfort.

The Vanish commenced low-rate initial production earlier this year, following the successful fulfillment of homologation requirements in both the United States and Canada, including California Air Resources Board confirmatory testing. This regulatory approval now facilitates a smoother pathway for Canadian dealerships to import the Vanish.

AYRO has already initiated shipments for U.S. orders of the Vanish, with Masters Golf and Utility Vehicles, a regional dealer and fleet solutions provider in Ontario, Canada, among the first channel partners to place orders earlier this year. AYRO’s sustainable e-delivery solutions are poised to empower companies in expanding their brand presence, particularly in areas such as campus mobility, last-mile delivery, and micro distribution.

With the endorsement from Transport Canada, AYRO is well-positioned to extend its influence and foster the broader adoption of low-speed electric fleets across North America.

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