LOBO EV Technologies Ltd. Reaches $6 Million Agreement to Supply 5,000 Electric Vehicles to U.S. Market
WUXI, China, May 15, 2025 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (NASDAQ:LOBO) ("LOBO" or the "Company"), an advanced manufacturer of electric bikes, tricycles, and off-highway four-wheeler electric carts, today reaffirmed its long-term commitment to the U.S. market through a strategic partnership with U.S.-based distributor in Atlanta. Both parties have now officially launched their joint effort on markets such as tourism, recreation and golf courses.
"We have been steadily building our understanding of the U.S. market alongside our trusted partner," said Mr. Huajian Xu, CEO of LOBO. "This is not a sudden move but a carefully developed plan that reflects our commitment to stability, mutual trust, and long-term growth. By aligning with local distributors and planning localized operations, we are laying a firm foundation—starting from solid partnerships, expanding our market understanding, developing strategic supply chains, and ultimately, opening new growth avenues through the U.S. mobility sector."
Under the agreement signed recently, the local distributor, the exclusive partner in US, plans to purchase and distribute 5,000 customized LOBO small size four-wheeler electric vehicles, representing estimated revenue of approximately $6 million USD. This marks an important next step in LOBO's phased rollout across the United States, with a focus on supplying sightseeing shuttles and compact golf carts to key U.S. markets. We are also planning to launch an electric and gasoline dual-power vehicle to meet US market demands for long-range transportation.
LOBO will continue to strengthen its global capabilities by developing intelligent EV solutions suited for local needs while gradually building an overseas parts sourcing and support framework. Amid the current tariff situation, LOBO will focus on the electric mobility industry, pivoting our strategic mindset for market expansion in the United States towards focused and innovation-driven growth. These efforts support the Company's long-term vision of localized "Made in USA" production and operational integration.
Company team leaders training distributors' engineers on the vehicle chassis structure.
As previously announced, the Company anticipates full-year 2025 revenue between $28 million and $30 million USD, with projected net income of approximately $3 million USD—reflecting a year-over-year revenue growth of up to 41.5%.
About LOBO EV Technologies Ltd.
LOBO EV Technologies Ltd. (NASDAQ:LOBO) is an innovative designer, developer, manufacturer, and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. The Company also specializes in AI-powered multimedia interactive systems and is expanding into medical technology manufacturing. By leveraging cutting-edge AI, connectivity, and automation, LOBO aims to provide intelligent, efficient, and secure mobility and healthcare solutions.
For more information, visit: https://www.loboebike.com and https://loboev.io.
Safe Harbor Statement
This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ due to regulatory approvals, market conditions, and other factors detailed in the Company's filings with the U.S. Securities and Exchange Commission (SEC). LOBO undertakes no obligation to update these forward-looking statements unless required by law.
For Investor and Media Inquiries, Please Contact:
HORIZON IR
Michael Wei
Email: [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f138ca5f-6f14-472f-8573-a56bae59d516
