Learn About LOBO EV: An Electric Vehicle Manufacturer with over 250 Global Distributors
Aug. 5, 2024
LOBO EV (NASDAQ: LOBO) presents an attractive value proposition underpinned by its strategic growth initiatives and solid performance across key segments. With an established track record and a focus on becoming an OEM and ODM leader in the intelligent urban e-bike, e-trike, and off-highway four-wheeled electric vehicles (EVs) market over the next decade, LOBO is poised for significant growth.
In FY 2023, the Company’s two-wheeled e-bike segment accounted for 67% of overall sales, contributing RMB USD $10.3 million in revenue. This performance, coupled with strategic inroads in the three-wheeled EV market, which generated USD $2.1 million, and off-highway four-wheeled EVs, which generated revenues of USD $0.2 million in FY 2023, highlight the ability of the Company to tap into high-growth market segments. LOBO is navigating a path toward market leadership in these segments, supported by its innovative product offerings and strategic market positioning.
LOBO is also broadening its market reach, focusing on expanding sales in the ASEAN countries, Eastern Europe—including Serbia, Bulgaria, and Ukraine—and Latin America. These strategic international expansion initiatives have partially offset the temporary industry slowdown and increasing domestic competition in China as the Company capitalizes on emerging opportunities where there is increasing demand for electric mobility. Demand in these regions is being driven by growing environmental awareness, supportive policies for electric vehicles, and the rising need for sustainable transportation in urban centers.
The global e-bike, e-trike, and e-scooter market was estimated at a combined $28 billion in 2023 and is expected to surpass $39 billion by 2028, growing at a compound annual growth rate of 6.6%, according to data from the Business Research Company.
