Here's the scoop:
- The electric vehicle industry is blowing up. As a whole, its focus is almost exclusively on straight to consumer vehicles—notice your neighbor rocking a humming EV while they drink a matcha tea? Well unfortunately, everyone needs to benefit from electric vehicles but cannot afford to pay for the luxury.
- AYRO targets the low speed electric vehicle market, and are establishing themselves as an industry leader. The market for low speed EV's is projected to reach more than $23.9 billion by 2026.
Biden's Administration to Support EV Adaptation
Biden wants to replace government vehicle fleets with electric vehicles ASSEMBLED in the US. Guess what car company is both electric AND made here in the states? Yep, AYRO. The electric car revolution has already begun and 2021 could be a super-charged year for the electric vehicle stocks. Global warming concerns keep pestering countries across the world and Biden has stated that he wants to make green energy initiatives a top priority for the country. To further increase electric vehicle production, the use of government funding and tax initiatives can benefit EV makers and our portfolios.
The industry is young and growing quickly. The amount of pure-play electric vehicle manufacturers compared to traditional automakers is very low. But traditional automakers are also producing electric vehicles and investing millions to keep up. Do you really think Ford and Mercedez Benz are going to get swept aside? I don't. On January 28, General Motors reported that it plans to end production of all diesel and gasoline-powered cars, trucks and SUVs by 2035.
- Rejoined Paris Agreement on climate change just after the inauguration.
- Administration has been ordered to revise vehicle-fuel emission standards. Trump had previously cut down emission standards, weakening the climate rules in favor of fossil fuel producers.
- Consumers can get a federal tax credit of up to $7,500 on the purchase of an all-electric or plug-in hybrid EV.
- "Cash for Clunkers" rebate program encourages car buyers in America to trade their older vehicles for new EV's.
- Biden has promised public investment of $400 billion in clean energy to boost battery technologies and electric vehicles.
The new wave in delivery services has certainly accelerated the use of digital transformation in the restaurant. The problem is that many business owners won't be able to continue or even afford to pay for the services in the long haul. Also, outsourcing the delivery elements removes the restaurant's control of its customer's experience which can be harmful to their reputation. So, the real question stands - are there any other convenient and safe options apart from partnering with these restaurant delivery companies?
AYRO has developed a solution to help aid restaurant and service businesses with a more sustainable and cost-effective delivery fleet of vehicles. The company designs and manufactures compact, purpose-built, automotive-grade electric vehicles to allow restaurants to have their food delivery services in-house. The company’s AYRO 311X is a 3-wheeled EV designed for quick service delivery and last-mile services that offer businesses a more economical solution compared to outsourcing such services. [Benzinga, AYRO Offers Last-Mile Solutions For The Food Delivery Boom]
- Bullish pennant pattern
- Increased volume in January, needs to hold this upper area in the last few candles. A drop back to 6 would break the trend.
- Low float: 11.67m float shares. Tesla, NIO and other EV names can ignite momentum. That's really my angle, I'm looking for it be propped up. I'm not investing in the company.
- PT: 10+
I'll be speculating AYRO and hoping to catch a bigger dip but I'll start accumulating at these levels. I think it's ready for a high upside move soon given the electric vehicle shift poised for the year. I also believe this is a name that will run off of momentum from Tesla and NIO, two enormous electric vehicle names in the sector. I'm a trader, not investor. It's not that deep.
**Not a financial advisor. Articles are opinion only.
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