AYRO Inc. (NASDAQ:AYRO) is moving in range after Karma Innovation and Customization Centre announced production of the first Club Car Current vehicles under the contract manufacturing deal with AYRO. The light-duty electric cars production will fill the gap between small utility carts and full-sized trucks of logistics and cargo services in urban and campus settings. AYRO and Karma had previously announced the partnership to produce vehicles under the agreement.
Karma’s arrangement with AYRO is part of its ongoing B2B initiatives leveraging KICC and AYRO’s OEM capabilities and expertise to offer design, engineering, and manufacturing services to customers in the automobile industry. Combining AYRO’s end-user, engineering expertise, market intelligence, and KICC’s development experience and manufacturing capabilities will enable the companies to deliver light-duty electric delivery truck acts in the US.
Club Car Current has been an engineer for several accessories and bed options for fleet versatility. Karma CEO Lance Zhou said they are delighted to have the first of the Club Car vehicles roll out of their facility. So in the coming months, AYRO is stock to watch.
On Thursday, AYRO stock jumped 2.25% to $4.99 with more than 4.49 million shares, compared to its average volume of 1.36 million shares. The stock has moved within a range of $ 4.7700 – 5.2300 after opening the trade at $5.16. Over the past 52-week, the stock has been trading within a range of $2.4800 – 11.5000.