AYRO Appoints New Management Team to Redesign and Modernize Lower-Cost Low-Speed ​​Electric Vehicle Page 1

Appoints new president of the operating division and new CFO

ROUND ROCK, TX / ACCESSWIRE / August 21, 2024 / AYRO, Inc. (NASDAQ:AYRO) (“AYRO” or the “Company”), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro-distribution, micro-mobility and last-mile delivery, today announced that it has named Joseph Ramelli as AYRO’s new Chief Financial Officer and Gilbert Villarreal as President of AYRO’s operating subsidiary.

Joseph Ramelli has extensive experience in various management roles, including chief executive officer, chief financial officer and president. Mr. Ramelli also has more than 15 years of experience in various roles at investment firms. AYRO believes that Mr. Ramelli’s management and capital markets experience will be instrumental in managing AYRO’s strong cash position and maintaining prudent financial rigor as AYRO continues to commercialize its innovative electric vehicles while controlling costs and maximizing earnings.