AYRO Announces Third Quarter European Market Expansion with Strategic Partner Club Car - Seite 2

About Club Car and Ingersoll Rand:

Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands – including Club Car, work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $13 billion global business committed to a world of sustainable progress and enduring results. Club Car has been one of the most respected names in the golf industry for more than half a century and its product portfolio has grown to include much more than golf cars, now encompassing consumer and commercial utility vehicles, multi-passenger shuttle vehicles, rough-terrain and off-road utility vehicles and street legal low-speed vehicles for commercial and consumer markets. Club Car is part of Ingersoll Rand, and is based in Augusta, GA. For more information, visit www.ingersollrand.com or www.clubcar.com.

About AYRO, Inc.

Texas-based AYRO, Inc., (ayro.com), 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 the emerging leaders of safe, affordable, efficient and sustainable logistical transportation. AYRO was founded in 2017 by entrepreneurs, investors, and executives with a passion to create sustainable urban electric vehicle solutions for Campus Management, Last Mile Delivery, Urban Commuting, and Closed Campus Transport. Discover more about AYRO, Inc. at ayro.com, emailing [e-mail] or by calling [phone].

On December 19, 2019, AYRO entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with DropCar, Inc., a Delaware corporation (“DropCar”), and ABC Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of DropCar (“Merger Sub”), pursuant to which, among other matters, and subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement, Merger Sub will merge with and into AYRO, with AYRO continuing as a wholly owned subsidiary of DropCar and the surviving corporation of the merger (the “Merger”). In connection with the Merger, DropCar intends to sell substantially all of its current assets, change its name to AYRO and AYRO’s business is intended to become the sole business of the combined company following the Merger.