LOBO EV anticipates margin improvements in 2H24

In H1 2024, LOBO increased its research and development spending by 86%, focusing on enhancing product features and developing advanced software solutions to meet customer needs in newly entered markets. The Company also expanded its inventory by 55% to support growing demand and facilitate the roll-out of new vehicle models in the second half of the year. LOBO anticipates margin improvements in H2 2024 as the Company continues to scale operations and optimize its supply chain. The introduction of new vehicle models and increased sales in higher-margin international markets are expected to contribute to improved profitability. LOBO’s management remains focused on cost control measures and operational efficiencies to drive sustainable margin expansion in the second half of the year.