- LOBO partners with Green Gold Asia to enter Indonesia's EV market projected to exceed $5 billion by 2030.
- The partnership agreement is valued at $5 million USD for the first year.
- Initial rollout will focus on electric bikes and tricycles with supporting charging infrastructure.
LOBO (LOBO, Financial), a rapidly expanding electric mobility manufacturer, has announced a strategic cooperation with Green Gold Asia to penetrate Indonesia's burgeoning electric vehicle market. This market is forecasted to surpass $5 billion by 2030, driven by a population of over 270 million and increasing urbanization.
The initial agreement is valued at $5 million USD for the first year and involves a phased deployment in key metropolitan areas. The focus will be on launching new electric bikes and tricycles, supported by Green Gold Asia's existing network of charging stations. This collaboration aims to leverage the growing demand for environmentally friendly and affordable transportation solutions in the region.
LOBO's CEO, Mr. Huajian Xu, expressed confidence in the initiative, highlighting the synergy between LOBO's product innovation and Green Gold Asia's local market expertise. The collaboration seeks to address urban congestion and promote cleaner transportation options by integrating electric vehicles with intelligent battery management and charging infrastructure.
Looking ahead, LOBO plans to expand its presence beyond Indonesia, targeting additional markets across Southeast Asia, Latin America, and Africa, as part of its broader global expansion strategy.
