AYRO is an electric vehicle company that is too designs and manufacture vehicles to enable sustainable fleets. It delivers big value to expand market where the need for cost-effective, zero emissions, high quality, and technology platform becomes more important in this world. In 2017, a group of executives, investors, and entrepreneurs first introduced Austin electric vehicles that become AEV technologies. The overall concept for this nasdaq ayro at https://www.webull.com/quote/nasdaq-ayro is to create an electric solution for last-mile delivery urban commuting, campus management, and also closed camps transport. At the beginning itself, it commits commercial energy-efficient solutions, solution providing for life cycle sustainability and reduces carbon footprints. Before 2020 only AEV technologies become AYRO. After becoming an AYRO then the company becoming more popular and increasing the stock regularly. Now AYRO is one of the leading companies in certain countries. Therefore everything has time to shine some will shine immediately others will shine gradually.
Due to the pandemic situation, momentum was build for the products. The company made a partnership with the industry leader of Club Car which was a division of Ingersoll Rand. Golf cars were manufactured by Club Car and also UTV for dinner commercial and personal use. This deal makes the company combine with Club Car into a wide network. It makes support to deploy vehicles with Penn State University and also Princeton University in the test run. There is approximately $620000 backlog that is inactive that includes$58000in orders from the partnership of Gallery Cart. The company’s momentum was stopped by a pandemic and it forced to close the colleges and offices. At the end of 2020, the company gets improved and increase the profit to 21.5% that is more while compared to the competitor company like Tesla where its profit was only 21%. The employees are expecting to improve or maintain this result for the production. The production capacity gets tripled from 200 to 600 cars per month recently. In an overall view of the company growth was an early inning. Overall sales in the full year of 2020 gave $1.1 million in revenue. While comparing this revenue to the current market revenue of $300 million, it seems that the company gets a high valuation to sales ratio. In 2020, a $6.4 million net loss to accompany and it is not a big thing. It has another plan to compensate for this loss and it has a balance sheet to execute the plan simultaneously. They have two equity capital raises and also had one more raise in February that is around$42 million. Totally the company cash was $70 million with very little debt of $234000. For more stocks like, you can check nasdaq bigz at https://www.webull.com/quote/nasdaq-bigz.