LOBO EV reports 1H EPS (4c) vs. 11c last year

Reports 1H revenue $12.1M vs. $8.14M last year. Sales from electric vehicles and accessories grew 61%, contributing $12.08 million in total revenue. The Company delivered 56,000 units in the first half of 2024, a 45% year-over-year increase, driven by strong demand for LOBO‘s e-bicycles, e-mopeds, and electric four-wheelers, with additional contributions from distribution channel expansion and entry into new markets.LOBO’s CEO, Huajian Xu, commented: “Our H1 results demonstrate the growing demand for sustainable transportation solutions. The 45% increase in units sold underscores our ability to scale production and meet rising global demand. Our expansion into new international markets has opened exciting growth opportunities, and we remain committed to delivering high-quality electric vehicles to an expanding customer base.”