LOBO EV Expands Serbia Partnership with $5 Million Annual CKD Supply Commitment
Strategic Growth in Eastern Europe Taps Into $8 Billion+ Regional E-Bicycle Market Opportunity
WUXI, China, May 20, 2025 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (NASDAQ: LOBO) ("LOBO" or the "Company"), an advanced manufacturer of electric bikes, tricycles, and off-highway four-wheeler electric carts, today announced a significant expansion of its partnership with Serbian distributor, underscoring deepening collaboration and growing market potential in Eastern Europe.
Following the initial announcement of their joint efforts to launch the e-bicycle and establish an assembly line in Serbia, the Serbia distributor has now committed to sourcing approximately $5 million USD annually in CKD mode directly from LOBO. These CKD components will be used to locally assemble e-bicycles under the “Made in Serbia” label, which will then be marketed across Serbia and neighboring countries.
Unlocking Access to a High-Growth Market
With increasing of awareness of reducing our environmental footprint, fostering a sense of responsibility towards the environment sustainability goals, the Eastern European e-bicycle market is entering a rapid growth phase. The broader European e-bicycle market was valued at $4.2 billion in 2022 and is projected to more than double to over $8.1 billion by 2030, according to Data Bridge Market Research. With the commencement of production at the partner’s assembly plant and the deepening of the cooperative relationship between the two parties, LOBO, as the exclusive CKD product supplier and provider of assembly technology, is expected to gain a unique position to capture market share in a region that includes over 100 million potential consumers across the Balkans and surrounding EU-adjacent countries.
“This expanded partnership is a major validation of our product and business model,” said Huajian Xu, CEO of LOBO EV. “By combining LOBO’s manufacturing strength with partner’s local expertise and market reach, we’re building a scalable model for international growth, customer proximity, and localized value creation. LOBO’s Serbia initiative is not just a market entry—it’s a gateway to sustainable regional expansion.
About LOBO EV Technologies Ltd.
LOBO EV Technologies Ltd. (Nasdaq: LOBO) is an innovative designer, developer, manufacturer, and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. The Company also specializes in AI-powered multimedia interactive systems and is expanding into medical technology manufacturing. By leveraging cutting-edge AI, connectivity, and automation, LOBO aims to provide intelligent, efficient, and secure mobility and healthcare solutions.
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Safe Harbor Statement
This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ due to regulatory approvals, market conditions, and other factors detailed in the Company’s filings with the U.S. Securities and Exchange Commission (SEC). LOBO undertakes no obligation to update these forward-looking statements unless required by law.
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