LOBO EV reports FY24 revenue $21.2M vs. $15.5M last year

Huajian Xu, CEO of LOBO, commented, “Fiscal year 2024 was a transformational year for LOBO EV (LOBO) Technologies. We strategically expanded our product portfolio and distribution networks internationally. Despite near-term pressure on profitability due to operational expansion and public company transition costs, our top-line growth reflects the strength of our brand and market positioning. We remain committed to driving innovation, enhancing operational excellence, and delivering sustainable value creation for our shareholders. We are also proud to announce our strategic steps and penetration efforts to enter the rapidly growing market in Africa, Latin America and middle Asia countries. These business activities mark our ambitious in our mission to expand globally and deliver sustainable, eco-friendly, affordable mobility solutions to new markets and dedicate to the prosperous development of green economy.”