LOBO EV Forges Strategic Collaboration With CSM2017 To Expand E-Bicycle Business In Serbia
Portfolio Pulse from Benzinga Newsdesk
LOBO EV Technologies Ltd. (NASDAQ:LOBO) has announced a strategic collaboration with Serbian distributor CSM2017 Doo to expand its e-bicycle business in Serbia, marking a significant step in its Eastern European market expansion. The partnership focuses on the development and assembly of the CSM-01 e-bicycle model, with revenue generation expected to begin in Q2 2024. This move aligns with the growing demand for sustainable transportation in the region and leverages the growing European e-bicycle market, which is projected to reach $8.1 billion by 2030.
April 02, 2024 | 12:34 pm
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LOBO EV's strategic partnership with CSM2017 to expand its e-bicycle business in Serbia is expected to significantly enhance its market presence in Eastern Europe and contribute to revenue growth from Q2 2024.
The strategic collaboration with CSM2017 Doo positions LOBO EV to capitalize on the growing demand for electric bicycles in Eastern Europe, particularly Serbia. The partnership not only expands LOBO's market reach but also aligns with the increasing trend towards sustainable transportation solutions. The expected revenue generation from Q2 2024 indicates a positive financial outlook, making this collaboration highly relevant and important for LOBO EV's growth strategy. The confidence in this analysis is based on the detailed plans for product development and assembly outlined in the announcement.
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