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Tag: NASDAQ:LOBO

  • Lobo EV (LOBO) Continues Stock Surge In Pre-Market Trading

    Lobo EV (LOBO) Continues Stock Surge In Pre-Market Trading

    Shares of Lobo EV Technologies Ltd. (NASDAQ: LOBO) have continued their upward trajectory on the US stock charts. Following a significant announcement, LOBO stock saw a 6.54% increase during the pre-market session, reaching $2.77. This followed a 14.54% increase in the previous session, closing at $2.60.

    LOBO EV is set to host an investor webinar today at 4:15 p.m. ET, presented by RedChip Companies. Harry Schulman, a board member of LOBO, will speak at the event and share the company’s plans for boosting growth and profitability through 2024 and beyond. There will be a live Q&A session with Schulman following the lecture.

    Strategic Latin America Expansion

    With the goal of better serving the quickly expanding Latin American market, LOBO has announced the launch of a new office in Suriname. This calculated action is a response to the region’s growing need for environmentally friendly electric vehicle options.

    The new office, which was made possible by an MOU with the Suriname-based Zhongda International Engineering Company, would include 5,381 square feet of warehouse space in addition to 2,152 square feet of office space.

    Located in Wanica, Suriname, the facility will support LOBO’s operations and serve as a temporary product transfer and distribution center. The site offers ample space for future development and potential assembly plant operations.

    LOBO Partnered with Zhongda

    LOBO’s collaboration with Zhongda will grant access to Zhongda’s extensive social resources and distribution networks across Suriname and other Latin American countries. The MOU also includes provisions for Zhongda to provide LOBO with over 107,639 square feet of land for potential development of an assembly plant, pending successful due diligence, local government approvals, and board resolutions.

    By opening the new office, LOBO EV hopes to raise awareness of electric bicycles and other electric transportation options in Suriname and the surrounding nations. This initiative is designed to support green and sustainable transportation development by offering efficient, environmentally friendly, and cost-effective travel solutions.

  • LOBO EV Technologies Sees Stock Surge Following Strategic Expansion

    LOBO EV Technologies Sees Stock Surge Following Strategic Expansion

    Shares of Lobo EV Technologies Ltd. (NASDAQ: LOBO) experienced a significant uptick on the US stock charts on Tuesday following the announcement of a strategic expansion. The company’s stock soared by 7.00%, reaching $2.14 during the extended session.

    Major Order From Ecuadorian Wholesalers

    Lobo EV Technologies has further strengthened its presence in the Latin American market with a substantial order from Ecuadorian wholesalers. This order, the largest single purchase of e-bikes the company has received in 2024, encompasses electric tricycles, electric bicycles, and the company’s newly launched solar-powered electric tricycles.

    This significant order, featuring the new ‘King of the Load’ e-trikes, highlights Lobo EV Technologies’ dedication to innovation and its capability to meet the distinct needs of varied markets. Latin America remains a critical target for the company’s rapid expansion strategy, with the latest order from Ecuador exemplifying Lobo EV Technologies’ growing influence and the strong demand for its products in the region.

    Innovation Driving Market Growth

    A standout component of the Ecuadorian order is the “King of the Load” e-trike from LOBO, a customized vehicle made for delivery services and commuters. These e-trikes are not merely transportation devices but also essential tools that empower users by providing a means of livelihood.

    This is particularly vital in developing countries, where such vehicles contribute to increasing income and enhancing the quality of life. Lobo EV Technologies has been steadily increasing its market share in Latin America over recent years. The company’s constant investment in R&D has been essential in producing innovations that appeal to consumers worldwide as well as in Latin America.

    Dealers in Brazil, Chile, Suriname, and other nations have regularly placed orders for e-bikes and e-trikes with Lobo EV Technologies throughout 2024, suggesting a strong demand for these products throughout the area. With a compound annual growth rate of 6.6%, the worldwide market for e-bikes, e-trikes, and e-scooters is expected to reach over $39 billion by 2028, according to statistics from the Business Research Company.