AYRO, Inc. (AYRO) has released an update.
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AYRO, Inc. implemented an internal restructuring on January 31, 2024, aimed at increasing efficiency and better aligning with strategic goals. The restructuring included significant position eliminations within sales, marketing, and manufacturing. Despite these changes, the management team is dedicated to advancing the AYRO Vanish, their primary electric vehicle project. The restructuring is expected to enhance efficiencies and reduce operating expenses. As of the end of September 2023, AYRO reported having roughly $47.9 million in financial assets and 4,890,137 shares of common stock issued.
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For a comprehensive understanding of the announcement, you can read the full document here.
