AYRO (NASDAQ:AYRO) stock was getting a boost on Thursday after the company revealed new Club Car Current electric vehicles (EVs).
These new vehicles are being manufactured by Karma Innovation and Customization Center (KICC) for AYRO as part of an agreement. The new EVs being shown off are light-duty transports meant for last-mile deliveries.
AYRO’s new Club Car Current EVs come with a variety of options for customers to choose from. That includes different bed configurations. Among these are van box, pickup truck with sides, and flatbed options.
According to AYRO, its new Club Car Current EVs are low speed, which means they won’t be making long journeys. Instead, it believes the format will make them perfect for deliveries in campus settings and urban areas.
Rod Keller, CEO of AYRO, had the following to say about the news moving the company’s stock today.
“Karma is helping us meet strong demand from our fleet customers in delivering the initial run of vehicles from their Moreno Valley facility despite supply chain hurdles impacting production for the rest of the industry. These purpose-built electric vehicles are fully customizable, affordable and available now, delivering on our brand promise to provide real-world solutions that meet the needs of businesses of all types.”
AYRO stock is seeing heavy trading on Thursday following today’s news. As of this writing, more than 3 million shares of the stock have changed hands. That’s more than double the company’s daily average trading volume of about 1.4 million shares.
AYRO stock was up when trading started today but has slowly dropped throughout the day. As of this writing, the stock is down slightly from yesterday’s close.
Investors looking for more EV news will want to keep reading!
InvestorPlace offers a wide variety of stock market coverage and that includes the latest EV news. A few examples today include what to expect from XPeng (NYSE:XPEV), why Chinese EV stocks are heading higher, as well as the top EV stock picks for the year. You can find all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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