NEWS
LOBO EV Technologies Establishes U.S. Subsidiary, LOBOAI, to Expand Distribution of Innovative Electric Vehicles and Robotic Lawnmowers
Tuesday, 3rd December at 8:00 am
WUXI, China, Dec. 03, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (NASDAQ: LOBO) ("LOBO" or the "Company"), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, is pleased to announce the formation of its U.S. subsidiary, LOBOAI INC ("LOBOAI"). This strategic move aims to enhance the Company's presence in the United States by focusing on the importation, manufacturing, assembling and wholesale distribution of its cutting-edge robotic lawnmowers, electric golf carts, and AI-assisted mobility scooters for the elderly.
The establishment of LOBOAI underscores LOBO's commitment to delivering innovative and sustainable transportation and automation solutions to the U.S. market. The new subsidiary will serve as a central hub for operations, facilitating efficient distribution channels and providing dedicated support to U.S. customers and partners.
"We are excited to expand our footprint in the U.S. with the launch of LOBOAI," said Huajian Xu, CEO of LOBO EV Technologies Ltd. "This initiative aligns with our strategic vision to bring our products and robotic technologies to a broader audience, promoting eco-friendly and efficient solutions across various sectors."
LOBO EV's product lineup includes:
• Robotic Lawnmowers: Engineered for precision and efficiency, these autonomous mowers utilize advanced navigation systems to deliver immaculate lawn maintenance with minimal human intervention.
• Electric Golf Carts: Designed for performance and sustainability, LOBO's golf carts offer a quiet, emission-free alternative for golf courses and recreational facilities.
• AI-assisted mobility scooter for the elderly: Provides convenient assistance for those with limited mobility within communities. Compared to current models, the new vehicles offer enhanced monitoring features and a more convenient driving experience.
The U.S. subsidiary will also focus on building strong relationships with local distributors and dealers, ensuring that customers receive exceptional service and support. The Company has decided to temporarily halt its projects in Suriname to focus its efforts and resources on improving its business in the U.S. By establishing a direct presence in the U.S., LOBO aims to better understand and meet the unique needs of the American market, fostering innovation and customer satisfaction.
Preliminary forecasts indicate that this venture is expected to contribute more than $5 million to the Company's sales in 2025, reflecting the anticipated demand for LOBO's innovative products in the U.S. market.
Tuesday, 3rd December at 8:00 am
WUXI, China, Dec. 03, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (NASDAQ: LOBO) ("LOBO" or the "Company"), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, is pleased to announce the formation of its U.S. subsidiary, LOBOAI INC ("LOBOAI"). This strategic move aims to enhance the Company's presence in the United States by focusing on the importation, manufacturing, assembling and wholesale distribution of its cutting-edge robotic lawnmowers, electric golf carts, and AI-assisted mobility scooters for the elderly.
The establishment of LOBOAI underscores LOBO's commitment to delivering innovative and sustainable transportation and automation solutions to the U.S. market. The new subsidiary will serve as a central hub for operations, facilitating efficient distribution channels and providing dedicated support to U.S. customers and partners.
"We are excited to expand our footprint in the U.S. with the launch of LOBOAI," said Huajian Xu, CEO of LOBO EV Technologies Ltd. "This initiative aligns with our strategic vision to bring our products and robotic technologies to a broader audience, promoting eco-friendly and efficient solutions across various sectors."
LOBO EV's product lineup includes:
• Robotic Lawnmowers: Engineered for precision and efficiency, these autonomous mowers utilize advanced navigation systems to deliver immaculate lawn maintenance with minimal human intervention.
• Electric Golf Carts: Designed for performance and sustainability, LOBO's golf carts offer a quiet, emission-free alternative for golf courses and recreational facilities.
• AI-assisted mobility scooter for the elderly: Provides convenient assistance for those with limited mobility within communities. Compared to current models, the new vehicles offer enhanced monitoring features and a more convenient driving experience.
The U.S. subsidiary will also focus on building strong relationships with local distributors and dealers, ensuring that customers receive exceptional service and support. The Company has decided to temporarily halt its projects in Suriname to focus its efforts and resources on improving its business in the U.S. By establishing a direct presence in the U.S., LOBO aims to better understand and meet the unique needs of the American market, fostering innovation and customer satisfaction.
Preliminary forecasts indicate that this venture is expected to contribute more than $5 million to the Company's sales in 2025, reflecting the anticipated demand for LOBO's innovative products in the U.S. market.
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