LOBO EV Launches New E-Moped Models at China Cycle Exhibition

WUXI, China, May 13, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative electric vehicle manufacturer and seller, unveiled three new e-moped models at the prestigious Shanghai International Electric Vehicle and Parts Exhibition (“China Cycle”). Held at the Shanghai New International Expo Center from May 5 to 8, 2024, the exhibition drew participation from approximately 7,000 brands from around the world showcasing the latest in e-bike technology and innovation.

The newly launched e-mopeds feature a first-of-its-kind frame design independently developed by LOBO, offering enhanced structural stability and collision resistance. The innovative design garnered positive feedback from customers at the exhibition, setting the stage for accelerating sales growth in the rapidly growing e-moped segment.

“Our newly designed e-moped frame marks a significant milestone in LOBO’s journey towards independent, state-of-the-art product development, reinforcing our position at the forefront of the e-mobility industry,” said Huajian Xu, CEO of LOBO. “This launch not only reinforces our position at the forefront of the e-mobility industry but also exemplifies our dedication to pushing the boundaries of design and technology. As we continue to innovate, our focus remains on enhancing user experience and driving efficiency, which we believe will lead to substantial growth and expand our market share across the e-mobility landscape globally.”

The China Cycle exhibition is renowned for its influence and size, being the largest electric bicycle exhibition globally after the Canton Fair, which provided LOBO an ideal platform to showcase its latest technologies to an international audience of potential buyers.

LOBO’s new e-moped models were popular with both new and established customers at the exhibition, with many attendees visiting LOBO’s booth to learn about the features and pricing of these innovative products. “We anticipate receiving new orders for these models from the many potential buyers we met with at China Cycle,” added Xu.

Figure 1 - LOBO meets with potential e-moped buyers at China Cycle 2024

The global e-bike, e-trike, and e-scooter market was estimated at a combined $28 billion in 2023 and is expected to surpass $39 billion by 2028, growing at a compound annual growth rate of 6.6%, according to data from the Business Research Company.