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LOBO EV Technologies Ltd. Reaches $6 Million Agreement to Supply 5,000 Electric Vehicles to U.S. Market
GlobeNewswire News Roomยท 2025-05-15 13:00
Core Viewpoint - LOBO EV Technologies Ltd. reaffirms its commitment to the U.S. market through a strategic partnership with a local distributor, focusing on electric vehicles for tourism, recreation, and golf courses [1][2]. Group 1: Strategic Partnership and Market Expansion - The partnership involves the local distributor purchasing and distributing 5,000 customized small four-wheeler electric vehicles, estimated to generate approximately $6 million in revenue [2]. - LOBO's phased rollout in the U.S. aims to supply sightseeing shuttles and compact golf carts, with plans to introduce a dual-power vehicle to meet long-range transportation demands [2][3]. Group 2: Financial Projections - The company anticipates full-year 2025 revenue between $28 million and $30 million, with projected net income of approximately $3 million, reflecting a year-over-year revenue growth of up to 41.5% [5]. Group 3: Global Capabilities and Innovation - LOBO plans to enhance its global capabilities by developing intelligent electric vehicle solutions tailored to local needs and establishing an overseas parts sourcing and support framework [3]. - The company is pivoting its strategic focus towards innovation-driven growth in the electric mobility sector amid current tariff challenges [3].