WUXI, China, Oct. 07, 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 revenue guidance for the full year of 2024, projecting an 80% increase compared to the previous year, driven by recent capacity expansion, new product launches, and new market entries.

'We are optimistic about our revenue prospects for 2024,” said Huajian Xu, CEO of LOBO. 'Our investments in expanding our capabilities and our focus on innovation put us in a strong position to meet evolving customer needs across the globe. We also expect improving margins in the second half of the year as we gain operational efficiencies from our expanded production capacity and higher economies of scale.”