WUXI, China, Jan. 22, 2025 (GLOBE NEWSWIRE) — LOBO EV Technologies Ltd. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative e-bicycle, e-moped, e-tricycle, and electric off-highway four-wheeled shuttle designer, developer, manufacturer and seller, today announced that it entered into a letter of intent with Roundtree Lab, LLC (“Roundtree”), a Wyoming hospital equipment supplier, to manufacture smart electric medical transport beds. This partnership marks LOBO’s first foray into the healthcare equipment market, further underscoring the Company’s commitment to innovation and diversification. The parties expect to enter into a definitive agreement for this strategic collaboration.
The collaboration leverages LOBO’s extensive expertise in connectivity and multimedia interactive systems—capabilities historically applied to electric mobility design and manufacturing—and applies them to Roundtree’s advanced bed technology. By combining the patented AI solutions of Roundtree with LOBO’s state-of-the-art manufacturing processes, the two companies aim to improve patient care, safety, and efficiency within healthcare facilities.
Key Highlights of the Collaboration
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OEM Manufacturing Agreement
- LOBO will act as the Original Equipment Manufacturer (OEM) for Roundtree’s AI-driven medical transport beds, utilizing Roundtree’s valuable patents and licenses.
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Market Expansion
- Roundtree’s relationships with U.S. hospitals will accelerate market penetration for these advanced transport beds across the United States.
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Revenue Potential
- The partnership is projected to generate more than $10 million in revenue in 2025, contingent on LOBO’s consistent delivery of high-quality products and its proven manufacturing capabilities.
Management Commentary
Huajian Xu, CEO of LOBO, commented:
“We are thrilled to join forces with Roundtree Lab to deliver AI-powered medical transport beds to the U.S. healthcare market. This collaboration underscores our dedication to creating cutting-edge products that offer exceptional value and user experience—whether on the road or in a hospital setting.”
Gordon Franklin, CEO of Roundtree Lab, added:
“LOBO’s proven manufacturing prowess and commitment to technology innovation make them the ideal partner. We believe our patented AI platform, combined with LOBO’s top-tier production, will raise the bar for patient care and operational efficiency in healthcare facilities.”
About LOBO EV Technologies Ltd.
LOBO is an innovative designer, developer, manufacturer and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles such as golf carts and mobility scooters for the elderly and disabled persons. LOBO also provides automobile information and entertainment software development and design services to customers. Leveraging its cutting-edge technologies in connectivity, multimedia interactive systems and artificial intelligence, LOBO re-defines and develops its products in order to provide users with convenient, affordable and pleasant driving experiences. For more information, visit: https://www.loboebike.com and https://loboai.com. Any information displayed on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the expected closing date of the public offering and the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, those described in “Risk Factors,” “Operating and Financial Review and Prospects,” “Cautionary Note Regarding Forward-Looking Statements” in the Annual Report on Form 20-F filed with the SEC (File No. 333-270499) on April 30, 2024. LOBO undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
Contact:
For more information, contact:
Zane Xu
IR Manager
[email protected]
