Business
LOBO Reports Record Shipments in September, with Overseas Sales Volume Up 108% and Revenue Surging 254% Year-Over-Year
WUXI, China, Oct. 15, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative e-bicycle, e-moped,
About this update from Lobo Technologies Ltd.
[{"type":"text","content":"WUXI, China, Oct. 15, 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, today announced that the company completed a record number of shipments in September 2024, driven by the successful introduction of new products and an expanding overseas customer base. The volume of deliveries in September 2024 increased approximately 108% compared to September 2023, with about 2,800 units of e-bikes and 700 units of tricycles sold. The strong demand for LOBO's latest products, combined with expanding overseas customer base, has contributed to this achievement. Revenue generated from overseas customers surged 254% in September 2024 to approximately $0.8 million. The significant revenue growth of this segment compared to September 2023 highlights the Company's expanding global reach and successful efforts to meet international demand. LOBO's strategic focus on scaling its supply chain capabilities has enabled the company to serve its growing customer base more effectively across key international markets. \"We are thrilled with the record-breaking order shipments and the substantial increase in revenues generated from overseas during September,\" said Huajian Xu, CEO of LOBO. \"This growth is a testament to the strength of our new product line and the dedication of our team. We remain confident that this positive trend will continue throughout the remainder of the year as we continue to meet our customers’ needs around the world.\" 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 ...