LOBO EV sees 80% year-over-year revenue growth for 2024

LOBO EV Technologies 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.” Key Drivers of Projected Growth: Capacity Expansion: LOBO has scaled up its production facilities to accommodate increasing demand. Product Development: Introduction of new products expected to contribute significantly to revenue growth. Market Expansion: Entry into new markets, particularly in Eastern Europe and Latin America, creating opportunities with top-tier customers.