Business
LOBO EV Strengthens Partnership with a Well-Established Brazilian Distributor Following Successful On-Site Inspection
Brazilian distributor plans to consolidate its manufacturing activities with LOBO WUXI, China, June 25, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd.
About this update from Lobo Technologies Ltd.
[{"type":"text","content":"Brazilian distributor plans to consolidate its manufacturing activities with LOBO\nWUXI, China, June 25, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative e-bicycle, e-tricycle, and electric off-highway four-wheeled shuttle manufacturer and seller, further strengthened its penetration of the Latin American market after hosting a successful visit from one of Brazil's well-established electric mobility dealers, marking the first on-site inspection after nearly a year of business dealings between the companies. This visit has provided the Brazilian team with an in-depth understanding of LOBO’s strong production capabilities and professional services, bolstering their confidence in deepening their relationship with LOBO. The dealer, which generates over $8 million in annual sales of various short-distance electric mobility vehicles, currently engages in OEM production and procurement from multiple Chinese manufacturers. Recognizing the superior quality and consistency of LOBO’s products, the dealer plans to transition to centralized manufacturing and procurement from LOBO to enhance product quality, improve consistency, and reduce transaction costs—a significant strategic shift for the dealer. “We are honored to welcome our partners from Brazil and showcase our advanced and scalable production capabilities,” said Huajian Xu, CEO of LOBO. “The Brazilian team was particularly impressed with our new model electric tricycles and small four-wheeled elderly mobility vehicle samples. They closely examined the detailed design and craftsmanship, praising our R&D and manufacturing capabilities. The on-the-spot discussions about specific vehicle orders indicate their strong intent to form a close cooperative partnership.” Figure 1 – Brazilian distributors meet with LOBO EV team During the two-day visit, the Brazilian team toured LOBO’s Wuxi and Tianjin factories, inspecting the production lines, sample workshops, testing workshops, and office areas. They gained a comprehensive understanding of LOBO’s Standard Operating Procedures (SOP), R&D system, and quality control measures, providing the customer with a strong understanding of the Company’s supply capacity and product quality. LOBO has been steadily gaining market share in Latin America over the past several years. The company's ongo...