LOBO EV Technologies Establishes U.S. Subsidiary, LOBOAI, to Expand Distribution of Innovative Electric Vehicles and Robotic Lawnmowers
LOBO EV Technologies (Nasdaq: LOBO) has established a U.S. subsidiary, LOBOAI, to enhance its presence in the United States market. The subsidiary will focus on importing, manufacturing, assembling, and distributing robotic lawnmowers, electric golf carts, and AI-assisted mobility scooters for the elderly. The company has halted its Suriname projects to concentrate on U.S. operations. LOBOAI is projected to contribute over $5 million to company sales in 2025. The expansion aims to strengthen distribution channels and provide dedicated support to U.S. customers and partners.
LOBO EV Technologies (Nasdaq: LOBO) ha stabilito una filiale negli Stati Uniti, LOBOAI, per ampliare la sua presenza nel mercato statunitense. La filiale si concentrerà sull'importazione, produzione, assemblaggio e distribuzione di tosaerba robotizzati, carrelli elettrici da golf e scooter per la mobilità assistita per gli anziani. L'azienda ha fermato i suoi progetti in Suriname per concentrarsi sulle operazioni negli Stati Uniti. Si prevede che LOBOAI contribuirà con oltre 5 milioni di dollari alle vendite aziendali nel 2025. L'espansione mira a rafforzare i canali di distribuzione e fornire supporto dedicato ai clienti e partner statunitensi.
LOBO EV Technologies (Nasdaq: LOBO) ha establecido una filial en EE. UU., LOBOAI, para mejorar su presencia en el mercado estadounidense. La filial se enfocará en la importación, fabricación, ensamblaje y distribución de cortadoras de césped robóticas, coches de golf eléctricos y scooters de movilidad asistida para personas mayores. La empresa ha detenido sus proyectos en Surinam para concentrarse en las operaciones en EE. UU. Se proyecta que LOBOAI contribuirá con más de 5 millones de dólares a las ventas de la empresa en 2025. La expansión tiene como objetivo fortalecer los canales de distribución y proporcionar apoyo dedicado a clientes y socios estadounidenses.
LOBO EV Technologies (Nasdaq: LOBO)는 미국 시장에서의 입지를 강화하기 위해 LOBOAI라는 미국 자회사를 설립했습니다. 이 자회사는 로봇 잔디 깎는 기계, 전기 골프 카트, 노인을 위한 AI 지원 이동 스쿠터의 수입, 제조, 조립 및 유통에 중점을 둘 것입니다. 이 회사는 미국에서의 운영에 집중하기 위해 수리남 프로젝트를 중단했습니다. LOBOAI는 2025년까지 500만 달러 이상의 매출에 기여할 것으로 예상됩니다. 이번 확장은 유통 채널을 강화하고 미국 고객 및 파트너에게 전담 지원을 제공하는 것을 목표로 하고 있습니다.
LOBO EV Technologies (Nasdaq: LOBO) a établi une filiale aux États-Unis, LOBOAI, pour renforcer sa présence sur le marché américain. La filiale se concentrera sur l'importation, la fabrication, l'assemblage et la distribution de tondeuses à gazon robotiques, de voiturettes de golf électriques et de scooters de mobilité assistée pour les personnes âgées. L'entreprise a suspendu ses projets au Suriname pour se concentrer sur ses opérations américaines. On prévoit que LOBOAI contribuera à hauteur de plus de 5 millions de dollars aux ventes de l'entreprise en 2025. L'expansion vise à renforcer les canaux de distribution et à fournir un soutien dédié aux clients et partenaires américains.
LOBO EV Technologies (Nasdaq: LOBO) hat eine Tochtergesellschaft in den USA mit dem Namen LOBOAI gegründet, um seine Präsenz auf dem amerikanischen Markt zu verstärken. Die Tochtergesellschaft wird sich auf den Import, die Herstellung, die Montage und den Vertrieb von robotergestützten Rasenmähern, elektrischen Golf Carts und KI-unterstützten Mobilitätsscootern für Senioren konzentrieren. Das Unternehmen hat seine Projekte in Surinam eingestellt, um sich auf die Aktivitäten in den USA zu konzentrieren. Es wird erwartet, dass LOBOAI bis 2025 über 5 Millionen Dollar zum Unternehmensumsatz beiträgt. Die Expansion zielt darauf ab, die Vertriebskanäle zu stärken und den amerikanischen Kunden und Partnern einen engagierten Support zu bieten.
- Projected revenue contribution of over $5 million from U.S. operations in 2025
- Strategic market expansion into the U.S. through new subsidiary establishment
- Diversification of product portfolio with high-tech offerings
- Suspension of operations in Suriname market
- Significant investment required for U.S. market entry and operations setup
Insights
This subsidiary formation marks a significant strategic pivot for LOBO, shifting focus from Suriname to the larger, more lucrative U.S. market. The
The U.S. robotic lawn mower market alone is projected to grow at a CAGR of
The product portfolio demonstrates strategic technological integration across multiple segments. The robotic lawnmowers likely incorporate advanced AI for navigation and obstacle avoidance, while the AI-assisted mobility scooters feature enhanced monitoring capabilities that could provide competitive advantages. These technologies align with current market demands for smart, connected devices.
However, success will heavily depend on the robustness of LOBO's AI algorithms, battery efficiency and software integration capabilities. The decision to consolidate operations in the U.S. could accelerate product development and adaptation to local market requirements, though establishing a reliable service network for these tech-heavy products will be important for market acceptance.
WUXI, China, Dec. 03, 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, is pleased to announce the formation of its U.S. subsidiary, LOBOAI INC (“LOBOAI”). This strategic move aims to enhance the Company's presence in the United States by focusing on the importation, manufacturing, assembling and wholesale distribution of its cutting-edge robotic lawnmowers, electric golf carts, and AI-assisted mobility scooters for the elderly.
The establishment of LOBOAI underscores LOBO’s commitment to delivering innovative and sustainable transportation and automation solutions to the U.S. market. The new subsidiary will serve as a central hub for operations, facilitating efficient distribution channels and providing dedicated support to U.S. customers and partners.
“We are excited to expand our footprint in the U.S. with the launch of LOBOAI,” said Huajian Xu, CEO of LOBO EV Technologies Ltd. “This initiative aligns with our strategic vision to bring our products and robotic technologies to a broader audience, promoting eco-friendly and efficient solutions across various sectors.”
LOBO EV's product lineup includes:
- Robotic Lawnmowers: Engineered for precision and efficiency, these autonomous mowers utilize advanced navigation systems to deliver immaculate lawn maintenance with minimal human intervention.
- Electric Golf Carts: Designed for performance and sustainability, LOBO's golf carts offer a quiet, emission-free alternative for golf courses and recreational facilities.
- AI-assisted mobility scooter for the elderly: Provides convenient assistance for those with limited mobility within communities. Compared to current models, the new vehicles offer enhanced monitoring features and a more convenient driving experience.
The U.S. subsidiary will also focus on building strong relationships with local distributors and dealers, ensuring that customers receive exceptional service and support. The Company has decided to temporarily halt its projects in Suriname to focus its efforts and resources on improving its business in the U.S. By establishing a direct presence in the U.S., LOBO aims to better understand and meet the unique needs of the American market, fostering innovation and customer satisfaction.
Preliminary forecasts indicate that this venture is expected to contribute more than
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://www.loboebike.com and 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
FAQ
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