AYRO: Surges on $300 mln deal to produce delivery EVs
29/09/2020 14:39
Sept 29 (Reuters) - ** Texas-based electric vehicle
maker AYRO Inc AYRO.O jumps ~19% to a near one-month high of
$3.40 after announcing collaboration with Karma Automotive LLC
to produce EVs in a deal valued over $300 mln
** Co set to make over 20,000 delivery electric vehicles
through 2023 with Karma; Karma to help co design, engineer and
manufacture EVs in southern California factory urn:newsml:reuters.com:*:nL1N2GQ01Y
** Deal comes after California presses cos to transition to
EVs and restaurants seek larger EV delivery fleet to meet with
increasing demand during lockdown
** AYRO looks to post its best session in nearly three
months
** Stock down 35% YTD
(Reporting by Supriya Rangarajan in Bengaluru)
((SupriyaR1@thomsonreuters.com; +1 646 223 8780;))