{"id":795026,"date":"2024-12-16T08:07:28","date_gmt":"2024-12-16T13:07:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lobo-ev-technologies-expands-robotic-lawn-mower-business-in-the-u-s-and-australia-with-strategic-manufacturing-and-distribution-agreement\/"},"modified":"2024-12-16T08:07:28","modified_gmt":"2024-12-16T13:07:28","slug":"lobo-ev-technologies-expands-robotic-lawn-mower-business-in-the-u-s-and-australia-with-strategic-manufacturing-and-distribution-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lobo-ev-technologies-expands-robotic-lawn-mower-business-in-the-u-s-and-australia-with-strategic-manufacturing-and-distribution-agreement\/","title":{"rendered":"LOBO EV Technologies Expands Robotic Lawn Mower Business in the U.S. and Australia with Strategic Manufacturing and Distribution Agreement"},"content":{"rendered":"<h2>\nPartnership expected to contribute to strong sales growth and operational efficiency<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>WUXI, China, Dec.  16, 2024  (GLOBE NEWSWIRE) &#8212; LOBO EV Technologies Ltd. (Nasdaq: LOBO) (\u201cLOBO\u201d or the \u201cCompany\u201d), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. (\u201cCapital Fortress\u201d), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO\u2019s business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers.<\/p>\n<p>Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO\u2019s robotic lawn mowers and other innovative products in the U.S. and Australia. LOBO will supply products and components to Capital Fortress in Complete Knock Down (CKD) form, enabling efficient local assembly and distribution. This strategic collaboration enhances LOBO\u2019s ability to penetrate key markets effectively while prioritizing operational efficiency.<\/p>\n<p>&#8220;This partnership represents an exciting opportunity to grow LOBO\u2019s footprint in two of the most dynamic markets for robotic and electric-powered equipment,&#8221; said Huajian Xu, CEO of LOBO. &#8220;We are confident that by leveraging local manufacturing and distribution expertise, we can enhance our market responsiveness and deliver sustainable, high-quality solutions to our customers.&#8221;<\/p>\n<p>\n        <strong>Key Highlights of the Agreement:<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:8pt\">\n          <strong>Exclusive Distribution Rights<\/strong>: Capital Fortress is granted exclusive rights to distribute and sell LOBO\u2019s robotic lawn mowers in the U.S. and Australia, excluding direct e-commerce channels.<\/li>\n<li style=\"margin-bottom:8pt\">\n          <strong>Sales Commitments<\/strong>: A minimum sales volume of $1 million or 1,500 units within the first 12 months, supporting the scalability of the venture.<\/li>\n<li style=\"margin-bottom:8pt\">\n          <strong>Manufacturing Innovation<\/strong>: Provisions for supply chain optimization, including supporting efforts to develop locally manufactured components to enhance cost efficiency and meet regulatory requirements.<\/li>\n<li style=\"margin-bottom:8pt\">\n          <strong>Support<\/strong>: Capital Fortress will provide comprehensive after-sales service.<\/li>\n<\/ul>\n<p>LOBO\u2019s robotic-driven lawn mower, the centerpiece of this partnership, combines cutting-edge autonomous navigation and robust performance, making it ideal for residential and commercial applications. The products will be marketed under LOBO\u2019s trademark and reflect the company\u2019s commitment to sustainable and intelligent design.<\/p>\n<p>The partnership is expected to drive revenue growth by expanding LOBO\u2019s access to two high-potential markets. The expertise of Capital Fortress and its related companies in distribution and manufacturing is anticipated to accelerate product availability and customer adoption.<\/p>\n<p>\n        <strong>About LOBO EV Technologies Ltd.<\/strong><br \/>\n        <br \/>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:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Qrgam2_VqTW9afiW6dH517ZuHtrc4G8lGHq3XjZYh79wBvmIJbWjrfIe2y7Gy-fHL7hOJ7orpF6K2EI64xPzfEXvNWsaHogFobjDsmCGlYg=\" rel=\"nofollow\" target=\"_blank\">https:\/\/www.loboebike.com<\/a>\u00a0and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Erwy6XozmxCOdW87ujLN5FIqIM4OTAUINwks7rAZg2MnEZHgSCI_0b94-cfSOXbwupVYnXzznjinGRMDy6rAV8ewxK1ut6PFD8lbsCzanN8=\" rel=\"nofollow\" target=\"_blank\">http:\/\/www.loboai.com<\/a>\/. 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.<\/p>\n<p>\n        <strong>Forward Looking Statements<\/strong><br \/>\n        <br \/>This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d) 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\u2019s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cseek,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cgoal,\u201d \u201cproject,\u201d \u201cestimate,\u201d \u201canticipate,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201clikely\u201d 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\u2019s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company\u2019s 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 \u201cRisk Factors,\u201d \u201cOperating and Financial Review and Prospects,\u201d \u201cCautionary Note Regarding Forward-Looking Statements\u201d 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.<\/p>\n<p>\n        <strong>Contact:<\/strong><br \/>\n        <br \/>For more information, contact:<br \/>Zane Xu<br \/>IR Manager<br \/>ir@loboai.com<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxOTY0OSM2NjM4NjcyIzIyODk2NTM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MmY1ZDkwZGYtZGEwNC00ZmMwLWE0Y2QtNTFmNjlkMjEzMzFlLTEzMDEyMDM=\/tiny\/LOBO-EV-TECHNOLOGIES-LTD-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Partnership expected to contribute to strong sales growth and operational efficiency WUXI, China, Dec. 16, 2024 (GLOBE NEWSWIRE) &#8212; LOBO EV Technologies Ltd. (Nasdaq: LOBO) (\u201cLOBO\u201d or the \u201cCompany\u201d), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. (\u201cCapital Fortress\u201d), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO\u2019s business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers. Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO\u2019s robotic lawn mowers and other innovative products in the U.S. and Australia. LOBO will supply products and components &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lobo-ev-technologies-expands-robotic-lawn-mower-business-in-the-u-s-and-australia-with-strategic-manufacturing-and-distribution-agreement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LOBO EV Technologies Expands Robotic Lawn Mower Business in the U.S. and Australia with Strategic Manufacturing and Distribution Agreement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-795026","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LOBO EV Technologies Expands Robotic Lawn Mower Business in the U.S. and Australia with Strategic Manufacturing and Distribution Agreement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lobo-ev-technologies-expands-robotic-lawn-mower-business-in-the-u-s-and-australia-with-strategic-manufacturing-and-distribution-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LOBO EV Technologies Expands Robotic Lawn Mower Business in the U.S. and Australia with Strategic Manufacturing and Distribution Agreement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Partnership expected to contribute to strong sales growth and operational efficiency WUXI, China, Dec. 16, 2024 (GLOBE NEWSWIRE) &#8212; LOBO EV Technologies Ltd. (Nasdaq: LOBO) (\u201cLOBO\u201d or the \u201cCompany\u201d), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. (\u201cCapital Fortress\u201d), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO\u2019s business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers. Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO\u2019s robotic lawn mowers and other innovative products in the U.S. and Australia. 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(Nasdaq: LOBO) (\u201cLOBO\u201d or the \u201cCompany\u201d), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, signed a strategic manufacturing and distribution agreement with Capital Fortress Assets Ltd. (\u201cCapital Fortress\u201d), a lawn and garden equipment distributor. This agreement marks a pivotal expansion of LOBO\u2019s business in the U.S. and Australian markets, two regions with significant growth potential for robotic lawn mowers. Under the terms of the agreement, Capital Fortress will distribute and assemble LOBO\u2019s robotic lawn mowers and other innovative products in the U.S. and Australia. 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