LOBO EV Technologies Ltd. (NASDAQ:LOBO), a company specializing in electric mobility solutions, has announced the launch of its new solar-powered golf cart, with an initial production run of 33 units already sold in the United States. This development represents the company’s third successful export of golf carts to the U.S. market, signaling its commitment to eco-friendly transportation.
The newly released golf cart features high-efficiency solar panels capable of 270W output and 22% conversion efficiency, designed to charge the battery up to 80% using just sunlight. The vehicle is equipped with a 1500W electric motor, available in 60V and 72V configurations, and boasts an all-aluminum chassis, independent suspension, and vacuum tires for a smooth ride. Safety features include rear disc brakes and a dual-circuit hydraulic braking system.
In addition to its sustainable design, the golf cart offers modern conveniences such as LED headlights, turn signals, and a large LCD display with Bluetooth and USB connectivity. This product aligns with LOBO’s green travel philosophy and caters to the growing demand for sustainable transportation solutions in the U.S.
The golf cart market is valued at $2.14 billion in 2024, with projections suggesting growth to $2.84 billion by 2029. LOBO’s CEO, Huajian Xu, emphasizes the company’s dedication to innovation and the strategic focus on the expanding U.S. market.
LOBO EV Technologies Ltd. is known for its range of electric vehicles, including e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. The company also provides software development services for automobile information and entertainment systems.
While the press release contains forward-looking statements regarding the company’s plans and expectations, these are subject to various risks and uncertainties that could cause actual results to differ. LOBO has stated it will continue to invest in innovation and research and development to offer more sustainable travel solutions globally.
This announcement is based on a press release statement from LOBO EV Technologies Ltd.In other recent news, LOBO EV Technologies Ltd. has made significant strides in the electric vehicle market. The company has recently centralized its manufacturing operations with a Brazilian distributor, aiming to improve quality and reduce costs. This move aligns with LOBO’s increased market share in Latin America, demonstrated by consistent orders throughout 2024.
In addition, LOBO secured its largest order of the year from Ecuadorian wholesalers, including a mix of electric bicycles, tricycles, and solar-powered electric tricycles. This order marks a major milestone in LOBO’s expansion in the Latin American market.
Furthering its market presence, LOBO unveiled three new e-moped models at the Shanghai International Electric Vehicle and Parts Exhibition, and inaugurated a new production facility in Wuxi, China, which is set to more than double their manufacturing capabilities.
LOBO has also announced a strategic collaboration with Serbian distributor CSM2017 Doo, aiming to expand into Eastern Europe’s electric vehicle market. Revenue generation from this venture is expected to commence in Q2 2024. These are just a few of the recent developments for LOBO EV Technologies Ltd.
