LOBO EV Receives Commitment For Support From Local Government, The Xinwu District Government In Jiangsu Province
Portfolio Pulse from Benzinga Newsdesk
LOBO EV Technologies Ltd. (NASDAQ:LOBO), an electric vehicle manufacturer, announced receiving support from the Xinwu District government in Jiangsu Province, China. This support includes factory spaces, land resources, talent acquisition, and tax incentives, aimed at fostering LOBO's growth. The announcement was made during a gala dinner celebrating LOBO's successful Nasdaq IPO. The company's strategic direction aligns with the local government's vision of transforming Wuxi into a global industrial technology hub. The global market for e-bikes, e-trikes, and e-scooters is expected to grow from $28 billion in 2023 to over $39 billion by 2028.
April 08, 2024 | 12:13 pm
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LOBO EV Technologies Ltd. receives significant support from the Xinwu District government in Jiangsu Province, China, including factory spaces, land resources, talent acquisition, and tax incentives, following its successful Nasdaq IPO.
The support from the Xinwu District government is a strong positive signal for LOBO EV Technologies, indicating potential for accelerated growth and expansion. This governmental backing could enhance investor confidence, likely leading to a positive short-term impact on LOBO's stock price. The assistance aligns with the company's strategic goals and the growing global market for electric mobility solutions.
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