LOBO EV Further Expands Manufacturing Capacity to Meet Growing Demand
LOBO EV Technologies (Nasdaq: LOBO) has expanded its manufacturing capacity with a new factory in the Wuqing Development Zone. This third manufacturing workshop for Tianjin LOBO Intelligent Robot Co., , a wholly owned subsidiary, covers 107,639 square feet, with 78,748 square feet dedicated to manufacturing activities. The facility will primarily produce e-tricycles, addressing increasing order volumes and enhancing overall production capacity, efficiency, and quality.
CEO Huajian Xu stated that this expansion is a significant milestone in LOBO's growth strategy, optimizing production capabilities to meet growing market demand. The global market for e-bikes, e-trikes, and e-scooters is projected to grow from $28 billion in 2023 to $39 billion by 2028, with a 6.6% CAGR, reflecting the shift towards sustainable transportation.
LOBO EV Technologies (Nasdaq: LOBO) ha ampliato la sua capacità produttiva con una nuova fabbrica nella Wuqing Development Zone. Questo terzo laboratorio di produzione per Tianjin LOBO Intelligent Robot Co., una controllata interamente, copre 107.639 piedi quadrati, di cui 78.748 piedi quadrati dedicati alle attività di produzione. La struttura produrrà principalmente e-tricicli, per far fronte all'aumento dei volumi di ordini e migliorare la capacità produttiva complessiva, l'efficienza e la qualità.
Il CEO Huajian Xu ha dichiarato che questa espansione rappresenta una pietra miliare significativa nella strategia di crescita di LOBO, ottimizzando le capacità produttive per soddisfare la crescente domanda del mercato. Si prevede che il mercato globale delle e-bike, e-trike ed e-scooter crescerà da 28 miliardi di dollari nel 2023 a 39 miliardi di dollari entro il 2028, con un CAGR del 6,6%, a testimonianza del passaggio verso trasporti sostenibili.
LOBO EV Technologies (Nasdaq: LOBO) ha aumentado su capacidad de fabricación con una nueva fábrica en la Zona de Desarrollo de Wuqing. Este tercer taller de fabricación para Tianjin LOBO Intelligent Robot Co., una filial de propiedad total, cubre 107,639 pies cuadrados, de los cuales 78,748 pies cuadrados están dedicados a actividades de fabricación. La instalación producirá principalmente e-triciclos, abordando el aumento de los volúmenes de pedidos y mejorando la capacidad, eficiencia y calidad de producción en general.
El CEO Huajian Xu declaró que esta expansión es un hito significativo en la estrategia de crecimiento de LOBO, optimizando las capacidades de producción para satisfacer la creciente demanda del mercado. Se proyecta que el mercado global de e-bikes, e-trikes y e-scooters crecerá de $28 mil millones en 2023 a $39 mil millones para 2028, con una TCA del 6.6%, lo que refleja el cambio hacia el transporte sostenible.
LOBO EV Technologies (Nasdaq: LOBO)는 Wuqing 개발 구역에 새로운 공장을 세우며 제조 능력을 확장했습니다. Tianjin LOBO Intelligent Robot Co.의 세 번째 제조 작업장은 전적으로 자회사로 107,639 평방피트의 면적을 차지하며, 그 중 78,748 평방피트가 제조 활동에 전념하고 있습니다. 이 시설은 주로 e-삼륜차를 생산하여 주문량 증가에 대응하고 전반적인 생산 능력, 효율성 및 품질을 향상시킬 것입니다.
CEO인 Huajian Xu는 이번 확장이 LOBO의 성장 전략에서 중요한 이정표라며, 늘어나는 시장 수요에 맞춰 생산 능력을 최적화한다고 밝혔습니다. 전 세계 e-바이크, e-삼륜차 및 e-스쿠터 시장은 2023년 280억 달러에서 2028년 390억 달러로 성장할 것으로 예상되며, 6.6%의 연평균 성장률(CAGR)을 기록할 것으로 보입니다. 이는 지속 가능한 교통수단으로의 전환을 반영합니다.
LOBO EV Technologies (Nasdaq: LOBO) a élargi sa capacité de fabrication avec une nouvelle usine dans la zone de développement de Wuqing. Cet atelier de fabrication, le troisième pour Tianjin LOBO Intelligent Robot Co., une filiale entièrement possédée, couvre 107 639 pieds carrés, dont 78 748 pieds carrés sont dédiés aux activités de production. L'installation produira principalement des e-tricycles, pour répondre à la hausse des volumes de commandes et améliorer la capacité de production, l'efficacité et la qualité globales.
Le PDG Huajian Xu a déclaré que cette expansion est une étape importante dans la stratégie de croissance de LOBO, optimisant les capacités de production pour satisfaire la demande croissante du marché. Le marché mondial des e-bikes, e-trikes et e-scooters devrait passer de 28 milliards de dollars en 2023 à 39 milliards de dollars d'ici 2028, avec un CAGR de 6,6%, reflétant le passage à un transport durable.
LOBO EV Technologies (Nasdaq: LOBO) hat seine Produktionskapazität mit einer neuen Fabrik in der Wuqing Entwicklungszone erweitert. Diese dritte Produktionswerkstatt der Tianjin LOBO Intelligent Robot Co., einer hundertprozentigen Tochtergesellschaft, umfasst 107.639 Quadratfuß, wovon 78.748 Quadratfuß der Fertigung gewidmet sind. Die Einrichtung wird hauptsächlich e-Trikes produzieren, um den steigenden Bestellvolumina gerecht zu werden und die Gesamtkapazität, Effizienz und Qualität der Produktion zu verbessern.
CEO Huajian Xu erklärte, dass diese Expansion einen bedeutenden Meilenstein in der Wachstumsstrategie von LOBO darstellt, indem die Produktionskapazitäten optimiert werden, um der wachsenden Marktnachfrage gerecht zu werden. Es wird prognostiziert, dass der globale Markt für e-Bikes, e-Trikes und e-Scooter von 28 Milliarden US-Dollar im Jahr 2023 auf 39 Milliarden US-Dollar bis 2028 wachsen wird, mit einem CAGR von 6,6%, was den Übergang zu nachhaltiger Mobilität widerspiegelt.
- Expansion of manufacturing capacity with a new 107,639 square foot facility
- Increased production capacity to meet growing order volumes
- Focus on e-tricycle production to alleviate capacity constraints
- Potential for improved efficiency and quality in manufacturing
- Alignment with projected growth in the global e-mobility market
- None.
LOBO's strategic expansion with a new 107,639 sq ft facility, including 78,748 sq ft for manufacturing, is a significant move to address capacity constraints. This third workshop dedicated to e-tricycle production demonstrates the company's proactive approach to meeting growing demand. The expansion should lead to:
- Increased production capacity
- Improved efficiency
- Enhanced quality control
By optimizing production capabilities, LOBO is positioning itself to capitalize on the projected growth in the e-mobility market, which is expected to reach
The global e-mobility market's projected CAGR of
- Potential market saturation risks
- Competitive landscape changes
- Regional demand variations
LOBO's ability to adapt to these factors will be important for long-term success in this rapidly evolving market.
WUXI, China, Aug. 05, 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, expanded its manufacturing capacity with the addition of a new factory in the Wuqing Development Zone. The newly rented facility, the third manufacturing workshop for Tianjin LOBO Intelligent Robot Co., Ltd., a wholly owned subsidiary of LOBO, spans a total of 107,639 square feet and includes 78,748 square feet dedicated to manufacturing activities.
The strategic expansion aims to address increasing order volumes by enhancing overall production capacity, efficiency, and quality. The new facility will primarily focus on the production of e-tricycles, alleviating capacity constraints on current facilities.
Huajian Xu, CEO of LOBO, commented, “This expansion marks yet another important milestone in our growth strategy. By optimizing our production capabilities and improving our infrastructure, we are better positioned to respond to increasing market demand as we continue to deliver high-quality electric mobility solutions to our customers globally.”
Figure 1 - LOBO’s new Wuqing e-tricycle manufacturing facility
The Company anticipates that this new facility will not only enhance current production capabilities but also support future growth initiatives. LOBO’s ongoing investments in manufacturing infrastructure underscore its commitment to maintaining its competitive edge and meeting evolving market demands.
According to data from the Business Research Company, the global market for e-bikes, e-trikes, and e-scooters was valued at
About LOBO EV Technologies Ltd.
LOBO is an innovative designer, developer, manufacturer and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles such as golf carts and mobility scooters for the elderly and disabled persons. LOBO also provides automobile information and entertainment software development and design services to customers. Leveraging its cutting-edge technologies in connectivity, multimedia interactive systems and artificial intelligence, LOBO re-defines and develops its products in order to provide users with convenient, affordable and pleasant driving experiences. For more information, visit: https://loboev.io/. Any information displayed on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the expected closing date of the public offering and the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, those described in “Risk Factors,” “Operating and Financial Review and Prospects,” “Cautionary Note Regarding Forward-Looking Statements” in the Annual Report on Form 20-F filed with the SEC (File No. 333-270499) on April 30, 2024. LOBO undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
Contact:
For more information, contact:
Zane Xu
IR Manager
ir@loboai.com
Dave Gentry
RedChip Companies Inc.
1 (407) 644-4256
LOBO@redchip.com
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/8ec5221d-affd-4372-9a4d-fef4b27b1067
FAQ
What is the size of LOBO's new manufacturing facility in Wuqing Development Zone?
What products will LOBO primarily manufacture in the new Wuqing facility?
How is the global market for e-bikes, e-trikes, and e-scooters expected to grow according to the Business Research Company?
What is the Nasdaq stock symbol for LOBO EV Technologies ?
