AYRO, INC.

What AYRO, INC. does

AYRO, Inc. is a publicly traded designer and manufacturer (NASDAQ: AYRO) of automotive-grade, purpose-built low-speed electric vehicles (LSEVs), headquartered in Round Rock, Texas with a secondary manufacturing facility in Beeville, Texas operated through its GLV Ventures partnership. The company's product portfolio is anchored by the AYRO Vanish — a configurable utility LSEV with multiple swappable payload options (Flatbed, Pickup Bed, Van Box) — and the AYRO Valet, a premium 6-seat people mover; supporting offerings include the Electric Vaccine Vehicle (EVV), AYROSync fleet management telemetry software, EV chargers, and a recently launched AI-driven automated manufacturing robotics service.

The technology platform combines a high-power axial flux electric motor, lithium-ion battery systems with thermal management enabling operation from -20°C to 58°C, and lightweight automotive-grade architecture positioning the vehicles between full-size trucks and golf/utility carts in terms of payload and footprint. AYRO's proprietary SchlagerNull™ philosophy is a trademarked sustainability design framework intended to minimize surface alteration, sound, thermal and visual impact, alongside zero emissions. Vehicle components are primarily sourced from North America and Europe, and the Vanish is CARB-certified with completed U.S./Canada homologation.

AYRO generates revenue through direct sales (online pre-order), authorized dealer partners, strategic OEM co-development (Club Car, Gallery Carts, Karma Automotive), and — as of December 2024 — tier-one supplier relationships with General Motors and a top-three U.S. automotive manufacturer via GLV Ventures. End customers span corporate and enterprise fleets, healthcare and medical campuses, hotels and resorts, food and merchandise delivery, education, urban last-mile logistics, and government/transportation (including a U.S. Embassy in South Asia). The company has never been profitable per disclosed forward-looking statements, burned an estimated $6M annually against a 2024 target, and held $37M in cash as of June 30, 2024 against a $1.20M April 2026 market capitalization.

Name

AYRO, INC.

Legal name

AYRO, Inc.

Website

https://ayro.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

AYRO, Inc. designs and manufactures low-speed electric vehicles (LSEVs) including the Vanish utility vehicle and Valet people mover for enterprise fleet customers, with operations spanning direct sales, dealer networks, and OEM partnerships including a tier-one supplier relationship with General Motors.

Ownership category

akta.pro rank

Product category

Low-Speed Electric Vehicles (LSEV) / Electric Fleet Vehicles

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Motor and Generator Manufacturing (335312)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Motors & Generators (3621)

akta.pro primary industry

Light Electric Vehicles (NEVs/LSEVs/Quadricycles) Manufacturing (IMACAOAC)

akta.pro secondary industries

Automotive Infotainment, Telematics & Connectivity Hardware Manufacturing (TCU/V2X/GNSS) (IMACAJAH), Power Electronics Manufacturing (Inverters/DC-DC/Onboard Chargers) (IMACACAD)

Keywords

• Low-speed electric vehicles
• Utility electric vehicles
• Zero-emission fleet vehicles
• Automotive-grade electric vehicles
• Campus mobility solutions

Headquarters

HQ city

Round Rock

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. LSEV Vehicle Sales: Direct sales of low-speed electric vehicles (LSEVs) including the Vanish utility vehicle and Valet people mover. Vehicles are sold through direct sales, dealer network, and online pre-orders with configurable options and pricing based on specifications.
2. Contract Manufacturing & Design Services: Engineering and manufacturing services for other OEMs and partners through the GLV Ventures partnership, including design and production of vehicles and components for third parties.
3. Tier One Supplier Revenue: Revenue from serving as a tier one supplier for General Motors and other major automotive manufacturers, providing manufacturing and potentially components.
4. EV Accessories and Chargers: Sales of high-technology EV chargers and accessories, including precision assembly using robotic equipment for automated manufacturing.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

AYRO designs and manufactures automotive-grade, purpose-built low-speed electric vehicles (LSEVs), centered on the AYRO Vanish utility LSEV and the AYRO Valet 6-seat people mover. The company also provides contract manufacturing and design services through its GLV Ventures partnership (including tier one supply to General Motors), high-technology EV chargers, the AYROSync fleet management telemetry software, and AI-driven automated manufacturing through its Robotics Division.

Product overview

AYRO, INC. designs and produces zero-emission low-speed electric vehicles (LSEVs) and sustainable fleet solutions. The product portfolio centers on two core vehicles: the AYRO Vanish (utility LSEV for cargo/delivery with multiple bed configurations) and the AYRO Valet (6-seat premium people mover). Supporting offerings include the Electric Vaccine Vehicle (EVV) for mobile medical applications, AI-driven automated manufacturing services through the Robotics Division, and EV chargers. The company also offers AYROSync fleet management software for telemetrics. AYRO serves diverse markets including corporate/medical campuses, hotels/resorts, food/merchandise delivery, education, urban delivery, and government/transportation.

Differentiator

Problem solved

Functional benefit

Brands

• AYRO Vanish: The AYRO Vanish is a utility low-speed electric vehicle (LSEV) with lightweight architecture designed to limit vehicle weight and maximize payload capacity. It is a configurable LSEV supporting campus mobility, last-mile delivery, and micro distribution needs.
• AYRO Valet

Products and services

• AYRO Vanish Utility low-speed electric vehicle (LSEV) with a lightweight, purpose-built architecture designed for last-mile delivery, micro distribution, and campus/facility mobility. Features swappable payload configurations including flatbed, pickup bed, and van box options, and offers up to 1,200 lbs (LSEV) / 1,800 lbs (Non-LSV) payload, greater than 50 miles of range, and CARB-certified zero-emission operation.
• AYRO Valet Premium 6-seat low-speed electric vehicle (LSEV) designed to transport patrons, team members, or visitors in style within campuses, resorts, and facilities. Built with the same automotive-grade components as the AYRO Vanish and configured for limited-speed environments.
• Electric Vaccine Vehicle (EVV) All-electric mobile vaccine and medical delivery vehicle designed to enable flexible, safe, and efficient transport and delivery of vaccines and testing supplies, especially for last-mile healthcare outreach.
• EV Chargers High-technology EV chargers assembled using robotic precision equipment as part of the Robotics Division. First purchase order received from an external client in February 2025.
• AYROSync Fleet Management Software Scalable telemetry software enabling efficient, collaborative fleet deployment through real-time vehicle tracking, telemetrics, and fleet data analytics for AYRO LSEV operators.
• AI-Driven Automated Manufacturing (Robotics Division) AI-driven automated manufacturing services for EVs and supporting accessories using robotic equipment for precision assembly, expanded beyond single-vehicle production capabilities.

Quantifiable outcome

• 50% lower annual operating costs compared to gas-powered counterparts
• +5 more outcomes

Named customers9 records

Segments8 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature7 records

Partnerships

Six partnerships are on record, tiered core, minor and major.

• General MotorscoreOEM/ Whitelabel/ Licensing Partner · 12 December 2024AYRO became a tier one supplier for General Motors through the GLV Ventures partnership. This status positions AYRO to work with one of the largest auto manufacturers in the world, leveraging GLV's low-cost facilities to expand design and manufacturing capabilities. AYRO and GLV intend to supply GM as part of increased scope of their manufacturing efforts.
• GLV VenturescoreStrategic or Co-development Partner · 4 December 2024Partnership with GLV Ventures for lower-cost engineering and manufacturing in the United States. GLV provides low-cost manufacturing facilities in Beeville, Texas with full homologation and certification capabilities. GLV has been producing niche product tooling and vehicle assemblies since 1996 with capabilities including chassis manufacturing, vacuum thermoforming, and carbon fiber production. The partnership enables redesign of Vanish for more cost-effective production.
• Electric Vaccine Vehicle PartnershipminorStrategic or Co-development Partner · 1 January 2021Launch of Electric Vaccine Vehicle (EVV) in 2021 with partners, designed to mobilize flexible, safe, and efficient vaccine and testing delivery. The EVV was launched March 8, 2021.
• Karma AutomotivemajorStrategic or Co-development Partner · 1 September 2020Partnership with Karma Automotive LLC for strategic manufacturing, engineering, and design partnership announced in 2020. The partnership aimed to produce over 20,000 vehicles by end of 2023 valued at over $300 million. Karma began manufacturing the Club Car Current for Austin-based AYRO.
• Gallery CartsmajorStrategic or Co-development Partner · 1 January 2020Partnership with Gallery Carts for mobile hospitality solutions launched in 2020. Gallery Carts is a leading innovator of mobile carts for food, beverage, and retail businesses. The partnership enables AYRO vehicles to serve hot and cold food and beverages at venues including sports stadiums, event venues, and education campuses. Gallery Carts provides support for mobile hospitality vehicles.
• Club CarmajorStrategic or Co-development Partner · 1 May 2019Partnership formed in May 2019 with Club Car for electric vehicle collaboration. Club Car manufactured the Club Car Current in partnership with AYRO, a compact all-electric light delivery truck. Club Car provides service and parts support for AYRO vehicles including 411 and Current product lines.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ICON EV: ICON EV designs and assembles LSVs, golf carts, and electric utility vehicles for both consumer and commercial use. Directly comparable to AYRO in the LSV/campus-utility niche and competitor for hospitality and resort fleet business.
• Cushman (Textron Specialized Vehicles): Cushman builds food-service, utility, and people-mover LSVs widely deployed at resorts, stadiums, and corporate campuses. Shares AYRO's exact target verticals (hospitality, food and beverage, education) and competes head-to-head in shuttle and utility LSEV fleets.
• Tomberlin EV: Tomberlin produces street-legal low-speed electric vehicles for personal, commercial, and fleet buyers. Comparable to AYRO in LSV product category and target customer mix (small fleets, campuses, last-mile), operating with private-company agility rather than big-OEM scale.
• Vantage Vehicle International: Vantage Vehicle International designs and assembles NEVs, LSVs, and electric micro-trucks under several brand names (eGolf, Vantage). Comparable to AYRO in low-speed electric truck niche and target markets of campus mobility and small commercial fleets.
• Club Car: Club Car manufactures golf cars and utility LSVs (including the Current co-developed with AYRO). It is a direct peer in the LSEV/campus-mobility segment with overlapping customers and, despite the partnership, represents competitive overlap in commercial and people-mover applications.
• Garia Utility Vehicles: Garia manufactures premium low-speed electric utility and people-mover vehicles for resorts, communities, and corporate campuses. Directly comparable to AYRO Valet and Vanish in use case, premium positioning, and European-influenced design ethos.

Broad incumbents

• E-Z-GO (Textron): E-Z-GO, owned by Textron, is a leading manufacturer of golf cars and low-speed electric vehicles including ELiTE lithium LSVs. Directly comparable to AYRO in target customer (campuses, resorts, fleets) and product category (LSV), but with far broader distribution, dealer network, and parent-company backing.
• Polaris Commercial / Columbia Vehicle Group: Polaris's commercial business (including Columbia Vehicle Group) delivers electric utility and industrial vehicles used in facility, hospitality, and last-mile fleets. Competes with AYRO in the commercial LSEV space with significantly deeper R&D and a global dealer network.

Emerging players

• Workhorse Group: Workhorse builds electric delivery vehicles and last-mile fleet solutions including the W4 CC and aerospace drone programs. Comparable to AYRO in fleet electrification and last-mile delivery mission, but at much larger vehicle size and broader scope.

Regional players

• Melex (Polaris partner): Melex produces low-speed electric utility vehicles primarily for European resort, hospitality, and industrial customers. Comparable to AYRO in LSEV product category but predominantly serves EMEA geographies, limiting head-to-head U.S. competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AyroInc
• YouTubeyoutube.com/@ayrolsev
• Facebookfacebook.com/ayroinc
• LinkedInlinkedin.com/company/ayroinc
• Instagraminstagram.com/ayro.ev

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AYRO, INC.