AYRO and Masters Golf Carts Announce Partnership for AYRO Vanish

This is the first partnership under AYRO's new Dealer Program.

ROUND ROCK, TX / ACCESSWIRE / January 17, 2023 / AYRO, Inc. (NASDAQ:AYRO) ("AYRO" or the "Company"), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro distribution, micromobility and last-mile delivery, announces its partnership with Masters Golf and Utility Vehicles, a dealer and fleet solutions provider for the Ontario Province of Canada.

Masters Golf and Utility Vehicles is based in Oshawa, Ontario, and provides versatile golf and compact utility cart solutions, ranging from customized vehicles to full-scale fleet solutions and currently holds 700 rental vehicles in its fleet inventory.

"This new partnership is key for AYRO as it makes the AYRO Vanish available throughout Ontario and in nearby Toronto," said AYRO CEO Tom Wittenschlaeger. "Ontario has the largest population and largest opportunity for business applications for the AYRO Vanish in all of Canada. In addition the City of Toronto is seeking to transition its government fleet vehicles to electric, which also aligns with our product and vehicle offerings."

AYRO's Dealer Program will allow the Vanish and future products to be brought to additional markets, including fleet and operations managers for facilities in education, corporate and medical campuses, hotels and resorts, golf courses, stadiums, marinas, governments, municipalities and urban delivery. The program offers a range of benefits for prospective dealers including:

• Territory exclusivity
• Extensive training and support
• First right of refusal on future AYRO products
• Volume purchase discounts
• In-house financing program with 180-day floor planning and no interest for select dealers.

"The timing of this new partnership with AYRO is perfect," said Joe Labriola, owner and dealer principal for Masters Golf and Utility Vehicles. "Utility and commercial needs in our province currently outweigh multi-passenger vehicles. AYRO products and vehicles provide the ideal solution for our range of customers."

With Masters Golf and Utility Vehicles becoming AYRO's first official dealer, pre-orders for the AYRO Vanish for Masters' customers will begin within weeks.

"We're excited that Masters Golf and Utility Vehicles is our first official dealer and partner for the AYRO Vanish," said Terry Kahl, AYRO's vice president of dealer and distributor sales and channel developments. "The team at Masters is wonderful and should be a great partner for AYRO for years to come."

About AYRO

AYRO designs and produces zero emission vehicles and systems that redefine the very nature of sustainability. Our goal is to craft solutions in a way that leaves minimal impact on not only carbon emissions, but the space itself. From tire tread, fuel cells, sound and even discordant visuals, we apply engineering and artistry to every element of our product mix. The AYRO Vanish is the first in this new product roadmap. For more information, visit ayro.com.

Media Inquiries:

Nick Kastner
Forum Communications
678-943-3859
nick@forumspeaks.com

Investor Inquiries:

Joey Delahoussaye
CORE IR
516-222-2560
investors@ayro.com

SOURCE: AYRO, Inc.

Released January 17, 2023