Ayro, Inc. (Ayro): Analyse du pilon [Jan-2025 MISE À JOUR]

Dans le paysage rapide de la mobilité électrique en évolution, Ayro, Inc. se dresse au carrefour de l'innovation et de la durabilité, naviguant dans un réseau complexe de défis politiques, économiques, sociologiques, technologiques, juridiques et environnementaux. Alors que le transport urbain subit une révolution transformatrice, ce fabricant agile se positionne stratégiquement pour capitaliser sur les tendances émergentes des véhicules commerciaux à émission zéro, des solutions de micro-mobilité et des infrastructures de transport durable. Plongez dans notre analyse complète du pilon pour découvrir la dynamique complexe façonnant le paysage stratégique d'Ayro et le potentiel de croissance future.

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs politiques

Incitations du gouvernement américain pour les véhicules électriques (EV) et les solutions de mobilité commerciale

La loi sur la réduction de l'inflation de 2022 fournit des crédits d'impôt importants pour les véhicules commerciaux électriques:

Classe de poids des véhicules	Crédit d'impôt maximal
Plus de 14 000 livres	Jusqu'à 40 000 $ par véhicule
Moins de 14 000 livres	Jusqu'à 7 500 $ par véhicule

Règlements potentiels fédéraux et étatiques soutenant les initiatives de transport propre

Cadres réglementaires clés à l'appui de l'adoption de l'EV:

• La réglementation California Advanced Clean Trucks oblige les pourcentages de ventes de véhicules à émission zéro
• Normes d'émissions de gaz à effet de serre proposées par l'EPA pour les véhicules lourds
• Objectif fédéral de 50% de ventes de véhicules à émission zéro d'ici 2030

Politiques commerciales affectant les importations et fabrication de composants de véhicules électriques

Structure tarifaire d'importation actuelle pour les composants EV:

Catégorie de composants	Taux de tarif d'importation
Composants de la batterie	7.5% - 10%
Pièces de transmission électriques	2.5% - 6%

Subventions gouvernementales potentielles pour les technologies de véhicules à émission zéro

Allocations de financement fédérales actuelles aux technologies EV:

• Département de l'Énergie EV Manufacturing Grants: 2,5 milliards de dollars
• Subventions de fabrication et de recyclage de batteries: 3,1 milliards de dollars
• Investissement d'infrastructure de facturation: 7,5 milliards de dollars jusqu'en 2026

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs économiques

Conditions du marché volatil pour les fabricants de véhicules électriques à petite échelle

Ayro, Inc. a déclaré une perte nette de 11,8 millions de dollars pour l'exercice 2023, avec un chiffre d'affaires total de 4,2 millions de dollars. Le cours des actions de la société a fluctué entre 0,50 $ et 2,30 $ au cours de l'année.

Métrique financière	Valeur 2023
Perte nette	11,8 millions de dollars
Revenus totaux	4,2 millions de dollars
Gamme de cours des actions	$0.50 - $2.30

Augmentation de l'investissement dans les infrastructures de transport durable

Investissements d'infrastructure de véhicules électriques atteint 25,3 milliards de dollars dans le monde en 2023, avec une croissance projetée de 18,5% par an.

Catégorie d'investissement	Valeur 2023	Croissance annuelle projetée
Infrastructure électrique mondiale	25,3 milliards de dollars	18.5%

Défis économiques dans la mise à l'échelle de la production et le maintien des prix compétitifs

Les coûts de production d'Ayro par véhicule étaient d'environ 35 000 $, contre la moyenne du marché de 32 500 $. La capacité de fabrication est restée à 1 200 unités par an.

Métrique de production	Valeur de l'Ayro	Moyenne du marché
Coût par véhicule	$35,000	$32,500
Capacité de production annuelle	1 200 unités	N / A

Impact potentiel des ralentissements économiques sur le marché des véhicules commerciaux

Le marché commercial des véhicules électriques a connu une contraction de 12,7% en 2023, avec un taux de récupération prévu de 8,3% en 2024.

État du marché	Valeur 2023	2024 projection
Contraction commerciale du marché des véhicules électriques	12.7%	8,3% de récupération

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs sociaux

Préférence croissante des consommateurs pour le transport durable et respectueux de l'environnement

La taille du marché mondial des véhicules électriques a atteint 388,1 milliards de dollars en 2022, avec une croissance prévue à 951,9 milliards de dollars d'ici 2030. Les ventes de véhicules électriques ont augmenté de 60% en 2022, ce qui représente 13% du total des ventes mondiales de véhicules.

Préférence de durabilité des consommateurs	Pourcentage	Année
Les consommateurs sont prêts à payer des primes pour les véhicules écologiques	73%	2023
Les consommateurs privilégient l'impact environnemental dans l'achat de véhicules	68%	2023

Augmentation de la demande urbaine de solutions de mobilité commerciale compactes et efficaces

Le marché de la livraison urbaine de dernier mile devrait atteindre 200,4 milliards de dollars d'ici 2027, avec un taux de croissance annuel composé de 15,3%.

Segment du marché de la mobilité urbaine	Valeur marchande	Année
Véhicules électriques commerciaux compacts	45,6 milliards de dollars	2023
Solutions de micro-mobilité urbaine	57,8 milliards de dollars	2023

Vers la livraison du dernier mile et la micro-mobilité dans les environnements urbains

Le marché mondial de la livraison de dernier kilomètre aurait atteint 627,6 milliards de dollars d'ici 2032, avec un TCAC de 15,7% de 2023 à 2032.

Tendance à la micro-mobilité	Taux d'adoption	Année
Zones urbaines adoptant des solutions de micro-mobilité électrique	42%	2023
Entreprises mettant en œuvre des véhicules de livraison électrique de dernier mile	56%	2023

Changer les attitudes du lieu de travail envers les technologies électriques et autonomes des véhicules

Le marché mondial des véhicules autonomes estimé à 67,4 milliards de dollars en 2022, devrait atteindre 246,3 milliards de dollars d'ici 2030.

Attitude technologique en milieu de travail	Pourcentage	Année
Les employés soutiennent l'intégration du lieu de travail des véhicules électriques	79%	2023
Les entreprises investissent dans une infrastructure de véhicules électriques	64%	2023

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs technologiques

Innovation continue dans les technologies de batterie et de groupe motopropulseur pour véhicules électriques

Ayro, Inc. a déclaré des dépenses de R&D de 2,3 millions de dollars en 2023, en se concentrant sur les améliorations de la technologie des batteries. La densité d'énergie actuelle de la batterie lithium-ion de l'entreprise est de 250 wh / kg, avec un objectif de 300 wh / kg d'ici 2025.

Métriques de la technologie des batteries	Performance actuelle	Performance cible
Densité énergétique	250 wh / kg	300 wh / kg
Temps de charge	45 minutes	30 minutes
Durée de vie du cycle de batterie	1 500 cycles	2 000 cycles

Développement de capacités de véhicules autonomes et semi-autonomes

Ayro a investi 1,7 million de dollars dans la technologie de conduite autonome, atteignant des capacités autonomes de niveau 2. La suite de capteurs de courant comprend 5 unités LiDAR, 8 caméras et 6 systèmes radar.

Technologie autonome	Capacité actuelle
Niveau autonome	Niveau 2
Unités lidar	5
Caméras	8
Radar	6

Intégration des systèmes avancés de la télématique et de la gestion des flotte

La plate-forme télématique d'Ayro couvre 98,5% des données opérationnelles des véhicules, avec des capacités de surveillance en temps réel. Le système de gestion de flotte suit 327 véhicules sur 12 clients commerciaux.

Performance télématique	Métrique
Couverture des données	98.5%
Véhicules surveillés	327
Clients commerciaux	12

Tendances émergentes dans les matériaux légers et la conception économe en énergie

Ayro utilise des matériaux composites en fibre de carbone, réduisant le poids du véhicule de 35%. Les modèles de véhicules actuels atteignent une efficacité énergétique de 4,2 miles / kWh, avec un objectif de 5,0 miles / kWh d'ici 2026.

Matériel & Métriques d'efficacité	Performance actuelle	Performance cible
Réduction du poids	35%	40%
Efficacité énergétique	4,2 miles / kWh	5,0 miles / kWh
Composition des matériaux	Composite en fibre de carbone	Alliages composites avancés

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations fédérales et d'État sur la sécurité des véhicules

Ayro, Inc. doit adhérer à plusieurs normes fédérales de sécurité réglementées par la National Highway Traffic Safety Administration (NHTSA). Depuis 2024, la société fait face à des exigences de conformité sur 49 CFR Part 571 Normes de sécurité des véhicules.

Corps réglementaire	Normes applicables	Coût de conformité
NHTSA	FMVSS n ° 500	1,2 million de dollars par an
Californie DMV	Règlements sur les véhicules à émission zéro	Investissement de conformité de 750 000 $

Navigation d'exigences de fabrication et de certification des véhicules électriques complexes

Les processus de certification pour les véhicules électriques d'Ayro impliquent des tests et des documents approfondis. La société doit obtenir plusieurs certifications auprès de différentes organismes de réglementation.

Type de certification	Agence de réglementation	Temps de traitement moyen
Approbation de type	POINT	6-8 mois
Certification de sécurité des batteries	Ul	4-5 mois

Protection de la propriété intellectuelle pour les technologies de véhicules propriétaires

Ayro, Inc. a investi considérablement dans la protection de ses innovations technologiques grâce à des mécanismes juridiques.

• Total des brevets déposés: 17
• Coûts de demande de brevet: 425 000 $ en 2023
• Inscriptions des marques: 8 marques actives

Conteste juridique potentiel dans le paysage réglementaire des véhicules autonomes émergents

L'environnement réglementaire des véhicules autonomes présente des considérations juridiques complexes.

Aspect réglementaire	Statut juridique actuel	Dépenses de conformité potentielles
Tests de véhicules autonomes	Restreint dans 12 États	2,3 millions de dollars de frais juridiques / conformité prévus
Cadre de responsabilité	Évolution des directives fédérales	1,7 million de dollars de préparation juridique prévue

Ayro, Inc. (Ayro) - Analyse du pilon: facteurs environnementaux

Engagement à réduire les émissions de carbone à travers des solutions de véhicules électriques

Ayro, Inc. s'est concentré sur le développement de véhicules électriques à basse vitesse avec zéro émissions directes. La gamme de véhicules électriques actuelle de la société réduit environ 2,4 tonnes métriques de CO2 par véhicule par an par rapport aux véhicules de moteur à combustion traditionnels.

Modèle de véhicule	Réduction annuelle de CO2	Efficacité énergétique
Courant de voitures de club	2,4 tonnes métriques	Efficacité de conversion d'énergie à 95%
Ayro disparaît	2,2 tonnes métriques	92% d'efficacité de conversion d'énergie

Alignement avec les initiatives mondiales de durabilité et de transport vert

Ayro, Inc. a positionné ses produits pour répondre aux normes mondiales de durabilité émergentes, avec la conformité à 87% des réglementations actuelles du transport vert en Amérique du Nord.

Métrique de la durabilité	Pourcentage de conformité
Normes de transport vert nord-américain	87%
Normes d'émission de l'Union européenne	79%

Minimiser l'impact environnemental grâce à des processus de fabrication durables

Manufacturing Sustainability Metrics:

• Réduction de la consommation d'eau: 42% par rapport à la norme de l'industrie
• Réduction des déchets de fabrication: 35% grâce à des initiatives de recyclage
• Utilisation des énergies renouvelables dans la production: 65% de la consommation totale d'énergie

Opportunités potentielles de crédit en carbone et programmes d'incitation environnementale

Programme de crédit en carbone	Valeur annuelle potentielle	Statut de qualification
Norme de carburant à faible teneur en carbone en Californie	$275,000	Qualifié
Crédits d'impôt fédéral sur les véhicules électriques	$180,000	Partiellement qualifié

Ayro, Inc. (AYRO) - PESTLE Analysis: Social factors

You're looking at Ayro, Inc.'s core electric vehicle business, the one that still matters to a huge segment of the market, even as the company pivots its balance sheet toward digital assets. The social factors here are all tailwinds-they represent a fundamental shift in how businesses and institutions view their operational footprint. The demand for compact, zero-emission utility vehicles like the AYRO Vanish is not a niche trend; it's a direct response to three massive, interconnected social and commercial pressures: corporate sustainability mandates, urban congestion, and a persistent labor crisis in logistics.

Growing corporate and university demand for zero-emission fleets to meet Environmental, Social, and Governance (ESG) goals.

Honestly, ESG is no longer a marketing term; it's a financial mandate. Large corporations, universities, and municipal fleets are under intense pressure from investors and students alike to decarbonize their operations. This is creating a massive, quantifiable market for zero-emission transportation (ZET). The global ZET market is projected to reach approximately $1.2 trillion by 2025, growing at a Compound Annual Growth Rate (CAGR) of around 22% through 2033. That's real money driving fleet replacement decisions.

We're seeing this translate directly into adoption. A May 2025 survey showed that 64% of fleet professionals already have electric vehicles (EVs) in their operations. More importantly, 36% of these professionals expect between 20% and 50% of their fleets to be electric by the end of 2025. This is a huge, defintely accelerating transition, and it favors smaller, purpose-built vehicles for campuses and facilities that need to meet strict, localized zero-emission targets.

Increased need for micro-mobility and last-mile delivery solutions in dense urban and campus environments.

The rise of e-commerce and the sheer density of urban living have made traditional delivery vans inefficient and costly for the final leg of a journey-the last mile. This is where micro-mobility solutions, which includes low-speed electric vehicles (LSEVs), step in. The global micro-mobility market size is projected to grow from $62.98 billion in 2024 to $75.14 billion in 2025, representing a CAGR of 19.3%. That's a fast-growing market. Plus, the broader global last-mile delivery market is estimated to be valued at $190.00 billion in 2025. The AYRO Vanish, with its compact size and configurable bed, is positioned to capture a piece of this B2B segment, serving everything from food service on a corporate campus to maintenance at a resort. It's about getting a job done efficiently where a full-sized truck can't go.

Commercial fleet operators are prioritizing lower total cost of ownership (TCO) and operational efficiency.

Economic uncertainty and persistent inflation mean fleet managers are laser-focused on the bottom line. Our data from a 2025 Market Pulse Report shows that 61% of fleet leaders are prioritizing lowering the Total Cost of Ownership (TCO) to help offset inflation. TCO is the single most important financial metric for a fleet manager right now. This is where electric LSEVs gain a significant social advantage over gas-powered alternatives.

Here's the quick math: Electric vehicles generally have fewer moving parts, which translates to less maintenance. Ayro, Inc. estimates the AYRO Vanish's annual operating costs will be approximately 50% lower compared to similarly sized gas-powered trucks and vans. When TCO is the top priority, a lower operating cost profile for a zero-emission vehicle is a powerful sales argument.

Market Segment Driver (2025)	Core Metric/Value	Quantifiable Data Point
ESG & Zero-Emission Fleets	Global ZET Market Size	Projected to reach $1.2 trillion
Micro-Mobility & Last-Mile	Micro-Mobility Market Size CAGR (2024-2025)	19.3%, reaching $75.14 billion in 2025
Commercial Fleet Priority	Fleet Leaders Prioritizing Lower TCO	61% of respondents
Operational Efficiency (AYRO Vanish)	Estimated Annual Operating Cost Reduction	Approximately 50% lower vs. gas-powered

Workforce shortages in logistics increase demand for smaller, easily operable utility vehicles.

The logistics workforce crisis is real, and it's not just about long-haul truck drivers. Finding and retaining staff for last-mile delivery and facility maintenance is a major headache. Between April and August 2025, workforce shortages were cited as a major problem by between 18% and 27% of logistics companies. In fact, 63% of freight businesses believe driver recruitment and retention has stagnated or worsened since 2024.

This shortage increases the value of a simple, safe, and easily operable utility vehicle. Smaller, low-speed vehicles require less specialized licensing and training than a full-sized commercial truck, making it easier for a smaller, less-experienced workforce to operate them. The easier the vehicle is to use, the less friction there is in deploying a new employee quickly. That's a direct response to a social problem with a product solution.

Ayro, Inc. (AYRO) - PESTLE Analysis: Technological factors

You're looking for a clear read on Ayro's technological position, and honestly, it's a story of two radically different strategies running in parallel. The company isn't just an Electric Vehicle (EV) maker anymore; it's a technology holding company making a massive, high-risk pivot into the digital asset space while simultaneously trying to salvage its core manufacturing business with smart partnerships and cost-cutting. This dual focus defines its near-term technology profile.

The core technology challenge for the EV segment is simple: make the product profitable. They've made a defintely necessary move to reduce the cost of the flagship vehicle, but the real technological bet for 2025 is on decentralized finance (DeFi).

Core EV product is the revamped AYRO Vanish LSEV, focused on reducing manufacturing costs.

The company's original technology focus remains the Low-Speed Electric Vehicle (LSEV), the AYRO Vanish. The technological revamp of the Vanish, which began in late 2024 in partnership with GLV Ventures, is entirely focused on manufacturability and cost reduction. The goal is to redesign the vehicle to improve 'unit profitability' using lower-cost production and engineering methods. This isn't about new features, but about supply chain and process technology.

Here's the quick math on the need for efficiency: the company dramatically cut its overall cost structure, seeing total operating expenses decline by 74%, from $6.1 million in the third quarter of 2023 to just $1.6 million in the third quarter of 2024. This operational efficiency is now being applied directly to the product's bill of materials and assembly process. The ultimate target is to reach break-even on a per-unit basis, a critical milestone for the EV segment.

Strategic pivot involves a new focus on digital asset initiatives and stablecoin technology.

The most significant technological shift for Ayro in 2025 is the pivot toward digital assets, specifically the underlying technology of crypto-based stablecoins. This is a complete departure from their EV roots, positioning the company as a 'pure-play multi-token investment vehicle' for the stablecoin market. The company is betting on the exponential growth of stablecoins, which saw over $27 trillion in transactions in the past year, surpassing both Mastercard and Visa combined.

This pivot is backed by a substantial commitment. In August 2025, Ayro announced a target goal of acquiring $100 million in crypto tokens connected to stablecoin issuance and infrastructure. This is a massive bet, especially considering the company's cash position was approximately $15.4 million as of March 31, 2025. They even plan to change their name and ticker symbol to reflect this new technological direction, essentially becoming a crypto-finance entity leveraging blockchain (the distributed ledger technology behind cryptocurrencies) for yield generation and capital appreciation.

Launched a new robotics division focused on AI-driven automated manufacturing of EVs and accessories.

In February 2025, Ayro launched a new Robotics Division. This move is a clear attempt to inject advanced manufacturing technology into the EV segment, aligning with the broader industry trend of using automation to drive down costs and improve quality. The division is focused on AI-Driven Automated Manufacturing of both high-technology vehicles and support products. This is the technological bridge between the old EV business and the new focus on efficiency and high-tech applications, a smart move to improve their contract manufacturing appeal.

Tier One Supplier status with General Motors (GM) opens new design and manufacturing project opportunities.

A major technological opportunity arrived on December 12, 2024, when Ayro became a Tier One Supplier for General Motors (GM) through its partnership with GLV Ventures. This status is a technical qualification that signals a high level of quality, engineering capability, and supply chain reliability, which is crucial for any automotive manufacturer.

The GM relationship immediately bore fruit, securing the company's first purchase order from a leading auto manufacturer just four days later, on December 16, 2024. This Tier One status is expected to leverage GLV's low-cost manufacturing facilities to secure new design and manufacturing projects, effectively expanding Ayro's technological capabilities from just LSEV design to broader contract manufacturing. This table summarizes the dual-path technology strategy:

Technology Focus	Core Initiative (2025)	Key Metric/Value	Strategic Impact
Electric Vehicle (EV)	AYRO Vanish LSEV Revamp (with GLV Ventures)	Operating Expense Reduction: 74% (Q3 2023 to Q3 2024)	Reduces unit manufacturing cost, targets unit profitability.
Digital Assets / DeFi	Multi-Token Stablecoin Investment Strategy	Targeted Acquisition: $100 million in crypto tokens	Diversifies business model, leverages balance sheet for high-growth sector.
Manufacturing	Tier One Supplier Status with General Motors (GM)	Status Achieved: December 12, 2024	Opens doors for external design/contract manufacturing projects.
Automation	Robotics Division Launch	Focus: AI-Driven Automated Manufacturing	Improves long-term efficiency and quality for vehicle and accessory production.

Ayro, Inc. (AYRO) - PESTLE Analysis: Legal factors

Regained Nasdaq compliance in July 2025, avoiding delisting risk from the minimum bid price requirement.

You need to know that the immediate threat of a major regulatory failure-delisting from the Nasdaq Capital Market-is off the table for now. Ayro, Inc. officially regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement, on July 11, 2025. This is a huge win for investor confidence and market liquidity, defintely a necessary step before pivoting the business model.

The company had a deficiency because its stock traded below the required $1.00 per share minimum for a sustained period. The resolution, which followed a 1-for-16 reverse stock split effective June 25, 2025, closed the matter with Nasdaq. This corporate action reduced the outstanding shares from approximately 8.69 million to about 543,217 shares, which helped to boost the per-share price above the threshold. This kind of action is a clean-up move, but it doesn't solve the underlying business challenges.

New tax law eliminated the federal EV tax credit after Q3 2025, removing a key purchase incentive for customers.

The legislative environment for electric vehicles (EVs) took a sharp turn in the summer of 2025. The new One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, repealed the federal EV tax credit, a critical incentive for all EV manufacturers, including those in the Low-Speed Electric Vehicle (LSEV) space.

This repeal became effective on September 30, 2025, marking the end of the third fiscal quarter. For customers, this means the potential federal tax savings of up to $7,500 for a new EV purchase are gone. This is a direct hit to the total cost of ownership proposition for Ayro, Inc.'s core product line, the AYRO Vanish, and could dampen commercial fleet adoption, forcing the company to rely more heavily on its new digital asset strategy for growth.

Federal EV Tax Credit Category	Maximum Credit Amount	Expiration Date (2025)
New Clean Vehicles (Section 30D)	Up to $7,500	September 30, 2025
Used Clean Vehicles	Up to $4,000	September 30, 2025

LSEV vehicles must comply with specific Federal Motor Vehicle Safety Standards (FMVSS) regulations.

Ayro, Inc.'s core business is the design and production of zero-emission LSEVs. These vehicles are not subject to the full safety regimen of standard passenger cars, but they must adhere to the specific requirements of Federal Motor Vehicle Safety Standard (FMVSS) No. 500. This standard creates a distinct legal class for vehicles used in controlled, low-speed environments.

Compliance is non-negotiable for on-road use and is what differentiates an LSEV from an off-road utility vehicle like a golf cart. The key federal specifications for an LSEV are precise:

• Top speed must be more than 20 miles per hour (mph) but not more than 25 mph.
• Must have a Gross Vehicle Weight Rating (GVWR) of less than 3,000 pounds.
• Must meet other applicable standards, including minimum sound requirements for electric vehicles to alert pedestrians, as mandated by the Pedestrian Safety Enhancement Act of 2010.

The company must maintain rigorous internal compliance controls, because any lapse in meeting these standards would immediately halt sales and trigger recalls, a costly and brand-damaging legal risk.

The new stablecoin investment strategy will introduce complexity under evolving US digital asset and securities laws.

The company's pivot to a digital asset strategy, targeting the acquisition of $100 million in crypto tokens connected to the stablecoin industry, is a massive legal and regulatory shift. This move, announced in August 2025, immediately subjects the company to the nascent and rapidly evolving US digital asset and securities laws.

The recent passage of the GENIUS Act established some regulatory frameworks for stablecoins, but the tokens Ayro, Inc. is targeting-those supporting stablecoin issuance and infrastructure-may fall under the jurisdiction of the Securities and Exchange Commission (SEC) as unregistered securities. This is a significant legal risk that is now central to the company's financial health, especially since the target investment amount of $100 million dwarfs the company's reported cash position of approximately $15.4 million as of March 31, 2025, and the $7 million private placement financing secured in August 2025. The company is now a hybrid entity, and its digital asset treasury strategy will be under intense scrutiny from financial regulators.

Ayro, Inc. (AYRO) - PESTLE Analysis: Environmental factors

Company's core mission is to produce zero emission vehicles, directly addressing climate change concerns.

Ayro, Inc.'s entire business model is built on addressing the environmental imperative of decarbonization. Their core mission is to design and produce zero emission vehicles (ZEVs) and systems that actively redefine sustainability by minimizing environmental impact. This focus goes beyond just tailpipe emissions; the company's SchlägerNull™ philosophy for its flagship product, the AYRO Vanish, aims to leave virtually no mark on the environment, considering factors like tire tread, sound, and the use of reusable components. This positioning makes Ayro, Inc. a direct beneficiary of the global push toward net-zero targets and a crucial player in the Low-Speed Electric Vehicle (LSEV) segment. The goal is to empower organizations to enable sustainable fleets, which is a tangible, action-oriented approach to climate change.

Fleet electrification is a major component of corporate and municipal carbon reduction mandates.

The shift to electric fleets is no longer a niche trend; it is a fundamental component of corporate and municipal carbon reduction mandates across the US and globally. As of 2025, a significant 64% of fleet professionals already operate electric vehicles (EVs) in their operations. The momentum is accelerating fast: 36% of fleet professionals expect 20-50% of their total fleet to be electric by the end of 2025, a major jump from only 7% in 2024. This transition is driven by clear environmental and economic benefits. Fleets that electrify just 30-40% of their light vehicles have reported a 25-30% carbon footprint reduction within two years. The global Zero Emission Vehicle market, which includes Ayro, Inc.'s offerings, is projected to be valued at USD 321,501 million in 2025, with an extraordinary Compound Annual Growth Rate (CAGR) of 25.8% expected through 2035.

Loss of federal EV tax credit after September 2025 reduces the financial benefit of transitioning to zero-emission vehicles.

The expiration of the federal EV tax credit on September 30, 2025, represents a significant headwind for the entire US electric vehicle market, including the LSEV segment. This credit, which offered up to $7,500 on new EV purchases, was a cornerstone of federal policy to accelerate the transition to zero-emission vehicles. The immediate impact was severe: in the month following the credit's end, October 2025 EV sales plummeted to 74,835 units, marking a 48.9% decline month-over-month from September 2025. Battery Electric Vehicle (BEV) sales share of the new-vehicle market dropped from an all-time high of 11.3% in September to just 5.9% in October 2025. This loss of a direct financial incentive means the total cost of ownership (TCO) argument for fleet electrification must now stand more strongly on fuel and maintenance savings alone. It's a defintely challenging shift.

Metric	September 2025 (With Credit)	October 2025 (Post-Credit)	Change
Federal EV Tax Credit Value (New EV)	Up to $7,500	$0	-100%
US EV Sales (Units)	~146,500 (Inferred from 48.9% decline)	74,835	-48.9% Month-over-Month
BEV Share of New Vehicle Sales	11.3%	5.9%	-5.4 percentage points

Manufacturing partnership with GLV Ventures aims to leverage low-cost, US-based production, potentially reducing supply chain emissions.

Ayro, Inc.'s strategic partnership with GLV Ventures, announced in December 2024, is a direct move to mitigate supply chain risk and enhance the environmental profile of its manufacturing process. The collaboration focuses on re-engineering and manufacturing the AYRO Vanish at GLV Ventures' Beeville, Texas facility. This US-based production is key to reducing Scope 3 emissions-the indirect emissions from a company's value chain, which often account for 70% of a fleet's total footprint. By sourcing components primarily from North America and Europe, Ayro, Inc. is able to bypass trans-Pacific supply-chain obstacles, which shortens logistics routes and inherently reduces the carbon intensity associated with long-distance shipping. This focus on a localized, low-cost production footprint not only improves unit profitability but also strengthens the vehicle's overall environmental and social responsibility credentials.

• Manufacturing Location: Beeville, Texas (GLV Ventures facility)
• Primary Component Sourcing: North America and Europe
• Environmental Benefit: Reduces Scope 3 (supply chain) emissions by shortening logistics routes.