LOBO EV Technologies enters strategic partnership for e-bicycle market

WUXI, China - LOBO EV Technologies Ltd. (NASDAQ: LOBO), a manufacturer of electric vehicles, has announced a strategic collaboration with Serbian distributor CSM2017 Doo to expand its reach into Eastern Europe’s electric vehicle market. The partnership focuses on the CSM-01 e-bicycle, aligning with the region’s increasing demand for sustainable transportation.

The company is currently finalizing the CSM-01 model and anticipates the assembly line for CSM2017 to start revenue generation in Q2 2024. Parts for the e-bicycles will be manufactured and assembled primarily in China, with final assembly taking place in Serbia. This arrangement will allow the e-bicycles to be marketed with a "Made in Serbia" label.

In addition to manufacturing, the Serbian facility will provide maintenance services, underscoring both companies' commitment to customer satisfaction and after-sales support.

The European e-bicycle market, valued at $4.2 billion in 2022, is projected to exceed $8.1 billion by 2030, according to Data Bridge Market Research. The partnership is seen as a key development in LOBO EV's global expansion strategy and is expected to enhance shareholder value by positioning the company as a leader in electric mobility solutions.

LOBO EV designs and sells a range of electric vehicles, including e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles, catering to various customer needs such as golf carts and mobility scooters for the elderly and disabled. The company also provides software development and design services related to automobile information and entertainment systems.

This announcement is based on a press release statement and contains forward-looking statements regarding the company's strategies and expectations for the future. These statements are subject to risks and uncertainties, and actual results could differ materially from those projected.

LOBO EV Technologies Ltd. (NASDAQ: LOBO) is making strategic moves to penetrate the Eastern European electric vehicle market, a region with a growing appetite for sustainable transportation options. The collaboration with Serbian distributor CSM2017 Doo to launch the CSM-01 e-bicycle is a significant step in this direction.

InvestingPro data shows that LOBO has a market capitalization of $23.18 million and is trading at a P/E ratio of 14.7 based on the last twelve months as of Q2 2023. The company's revenue growth is impressive, with an 85.31% increase over the last twelve months as of Q2 2023, indicating a robust expansion in its business operations.

Despite the company's recent stock performance, which has seen a one-month price total return of -14.12%, LOBO's strategic initiatives could be a catalyst for future growth. The company's PEG ratio, which stands at 0.15, suggests that LOBO is trading at a low price relative to its near-term earnings growth potential, an InvestingPro Tip that could be appealing to investors looking for growth at a reasonable price.

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Another InvestingPro Tip highlights that LOBO operates with a moderate level of debt, which could provide it with the financial flexibility to invest in new opportunities such as the Serbian partnership. Additionally, the company's Price / Book ratio of 4.5, as of the last twelve months ending Q2 2023, may reflect investor confidence in the underlying value of its assets despite the high multiple.

For readers interested in a deeper analysis, there are additional InvestingPro Tips available for LOBO EV Technologies Ltd. These tips can provide more insights into the company's financial health and growth prospects. Moreover, users can take advantage of a special offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

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