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NEWS
LOBO EV Technologies Expands Robotic Lawn Mower Business in the U.S. and Australia with Strategic Manufacturing and Distribution Agreement
Monday, 16th December at 8:00 am
WUXI, China, Dec. 16, 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, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. ("Capital Fortress"), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO's business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers.
Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO's robotic lawn mowers and other innovative products in the U.S. and Australia. LOBO will supply products and components to Capital Fortress in Complete Knock Down (CKD) form, enabling efficient local assembly and distribution. This strategic collaboration enhances LOBO's ability to penetrate key markets effectively while prioritizing operational efficiency.
"This partnership represents an exciting opportunity to grow LOBO's footprint in two of the most dynamic markets for robotic and electric-powered equipment," said Huajian Xu, CEO of LOBO. "We are confident that by leveraging local manufacturing and distribution expertise, we can enhance our market responsiveness and deliver sustainable, high-quality solutions to our customers."
Monday, 16th December at 8:00 am
WUXI, China, Dec. 16, 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, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. ("Capital Fortress"), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO's business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers.
Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO's robotic lawn mowers and other innovative products in the U.S. and Australia. LOBO will supply products and components to Capital Fortress in Complete Knock Down (CKD) form, enabling efficient local assembly and distribution. This strategic collaboration enhances LOBO's ability to penetrate key markets effectively while prioritizing operational efficiency.
"This partnership represents an exciting opportunity to grow LOBO's footprint in two of the most dynamic markets for robotic and electric-powered equipment," said Huajian Xu, CEO of LOBO. "We are confident that by leveraging local manufacturing and distribution expertise, we can enhance our market responsiveness and deliver sustainable, high-quality solutions to our customers."
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