Why AYRO's Stock Is Trading Higher Today

AYRO AYRO shares are trading higher after the company completed its factory expansion. The expansion will allow the factory to handle up to 600 electric vehicles per month, compared to only 200 per month before the expansion.

AYRO designs and delivers compact, emissions-free electric fleet solutions for use within urban and short-haul markets. Capable of accommodating a broad range of commercial and consumer requirements, AYRO's vehicles are safe, affordable, efficient and sustainable logistical transportation. Its products are Club Car 411 and AYRO 311.

"Our position within the electric vehicle market should be strengthened by our manufacturing capacity expansion and our presence in Austin," said AYRO CEO Rod Keller. "Tesla is on the verge of finalizing its newest and largest $1 billion 'gigafactory' in Austin, while Hyliion, an Austin-based electric-powered heavy-duty truck company is expected to merge with Tortoise Acquisition Corp. later this year."

AYRO shares were trading 73% higher at $5.67 at the time of publication on Monday. The stock has a 52-week high of $8.18 and a 52-week low of $4.63.