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From Stage To Stage: How New Horizon Aircraft's eVTOLs Could Simplify Tour Logistics For Taylor Swift Sustainably

Benzinga

By James Blacker, Benzinga The world is on the precipice of a potential revolution in air mobility that could transform transportation and logistics in ways previously unimaginable. Electric vertical takeoff and landing (eVTOL) aircraft, such as those being developed by New Horizon Aircraft (NASDAQ: HOVR), are at the forefront of this revolution. With the promise of efficient, sustainable and rapid transit, eVTOL technology could make a massive impact on many industries, and this disruptive tech also has the potential to completely reshape tour logistics for popular artists like Taylor Swift. The Complex Logistics Of Major Music Tours Taylor Swift's tours are nothing short of spectacular. From sound and lighting equipment to intricate stage sets, pyrotechnics and elaborate costumes, her concerts require some serious planning and coordination. With an incredible 152 tour dates across five continents on her current Eras Tour, the logistics behind moving her team from city to city are mind-boggling. Normally, all this equipment would be transported via trucks, buses or even planes, all working together to make sure that everything arrives at the right place at the right time and in perfect condition. The problem with traditional logistics, however, is that no amount of meticulous planning can prevent unforeseen circumstances such as traffic congestion, road closures and bad weather conditions, all of which could be the undoing of a tight tour schedule. Delays can lead to significant financial losses for the artist and hordes of disappointed fans. Moreover, in today’s environmentally conscious world, the carbon footprint of such extensive travel is a major concern, highlighting the need for a more sustainable solution. Enter eVTOL Aircraft An innovative solution for tour logistics could be provided by eVTOL aircraft, a new technology being made possible thanks to rapid advancements in battery technology. These futuristic planes are designed to take off and land vertically, much like helicopters, which enables them to operate in congested urban areas with limited space for runways. Unlike helicopters, however, they have the added benefit of electric propulsion, making them quieter, more efficient and environmentally friendly. The list of use cases for eVTOL planes is extensive, from passenger transport to cargo delivery and medical transport. Their ability to bypass traffic congestion and cover large distances quickly makes them the perfect solution to the challenges presented by overcrowded modern cities. The unique design of eVTOLs means that they can operate easily in urban areas. An artist could land very close to the concert venue, completely eliminating the need to travel by road. Furthermore, they provide a safer and more secure mode of transport, with advanced navigation systems and reduced exposure to security threats on the ground. With the growing demand for sustainable practices across many industries, including entertainment, eVTOLs also provide an eco-friendly alternative to traditional transportation. By using electric propulsion, they produce zero emissions and significantly reduce the carbon footprint associated with touring. New Horizon Aircraft: Changing The Future Of Urban Air Mobility Among the companies developing eVTOL aircraft, New Horizon Aircraft (NASDAQ: HOVR) stands out with its unique product, the Cavorite X7. The seven-seat X7 uses a unique and patented wing design that allows it to take off and land vertically, but once in flight at a safe altitude, the wings reconfigure to become more like a traditional aircraft. The X7 can also land on a regular runway or deploy its fans to touchdown on a helipad or similar area. This unique design, coupled with its hybrid electric propulsion system, gives it several advantages over its competitors, with a maximum range of 500 miles, a maximum useful load of 1,500lb and a top speed of 250 mph as reported by New Horizon Aircraft. The company already has a 50%-scale prototype that has successfully demonstrated hover and forward flight and hopes to complete a successful transition flight soon. The Future Of Tour Logistics As urban air mobility continues to evolve with new technology, it is becoming increasingly clear that eVTOLs are not just a futuristic concept; they are a practical solution to the challenges of urban transportation. For artists like Taylor Swift, adopting this new technology for logistics purposes could mean increased efficiency, safety and sustainability, leading to smoother tours and happy fans. For more information on New Horizon Aircraft and its groundbreaking eVTOL technology, visit the company’s website. Featured photo by Chaz McGregor on Unsplash. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

July 17, 2024 08:45 AM Eastern Daylight Time

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DB Schenker Showcases Thought Leadership in Import/Export Logistics Through New Video Series on the Port of Halifax

DB Schenker

DB Schenker, a global leader in logistics and supply chain management, is thrilled to announce the launch of an exclusive video series focused on the Port of Halifax. This series, designed for logistics experts and import/export professionals, highlights the Port of Halifax's strategic importance and innovative practices in global trade. The video series features insightful interviews with prominent figures, including: Marilisa Benigno, Honorary Consul of Italy, Atlantic Region Suzanne Rix, Honorary Consul of Germany for the Maritime Provinces Captain Allan Gray, President, and CEO of the Halifax Port Authority Jonathan Chia, Head of Commercial at PSA Halifax David Thomas, Executive Director at The PIER Key Highlights: Vision and Mission of the Port of Halifax: Capt. Gray elaborates on the Port of Halifax's mission to be Canada’s preferred gateway, emphasizing its global connectivity and economic impact. “Every day, we connect with markets in Central Canada, the U.S. Midwest and countries around the world,” said Capt. Gray. “These connections foster opportunities for business and support thousands of jobs today. Looking ahead, the port will continue to integrate innovation, sustainability and community into how we do business.” Economic Impact: The Port of Halifax is a significant economic driver. A recent study showed the port generates billions of dollars in economic activity annually, contributing $1.6 billion in labour income and supporting over 25,000 jobs in the region. Jonathan Chia discusses the port’s role in reducing logistics costs for inland Canada and its strategic positioning as a gateway port. Global Connectivity and Innovation: The port’s connection to more than 150 countries worldwide, along with substantial investments in mega cranes and digitalization, positions Halifax as a key player on the global stage. Sustainability and Community Engagement: The series delves into the port's collaborative efforts with the Port of Hamburg to accelerate decarbonization and sustainability initiatives. Capt. Gray will also highlight the port's commitment to community integration and sustainable growth through innovative projects and partnerships. Future Infrastructure Developments: Viewers will gain insights into the port's 50-year plan, which includes expanding rail capacity and optimizing existing infrastructure to meet future demand while focusing on sustainable growth. Strengthening Italy-Canada Relations: Marilisa Benigno, Honorary Consul of Italy, Atlantic Region shares the consulate’s efforts to strengthen ties between Italy and Canada through various initiatives, including visa facilitation, cultural events, and business collaborations. German-Canadian Collaboration: Suzanne Rix, Honorary Consul of Germany for the Maritime Provinces, discusses the burgeoning relationship between Germany and Halifax, particularly in the fields of hydrogen and wind energy. The collaboration between the Port of Hamburg and the Port of Halifax in seeking to decarbonize their respective route is a significant step towards sustainable trade practices. Innovation and the Living Lab: David Thomas, Executive Director at The PIER, explains the role of The PIER as Canada’s first living lab to help solve supply chain and logistics challenges. The PIER’s projects emphasize efficiency, resilience, transparency, and sustainability in supply chains​. Catch the full Interviews on DB Schenker’s LinkedIn: The complete series of interviews is available on DB Schenker’s LinkedIn page, offering valuable insights for professionals in the logistics and supply chain sectors. Follow the link to stay updated and engage with industry leaders: DB Schenker LinkedIn. About DB Schenker With around 76,600 employees at more than 1,850 locations in over 130 countries, DB Schenker is one of the world’s leading logistics service providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive logistics and global supply chain management solutions from a single source. Aiming for a sustainable future of the logistics industry, DB Schenker continuously invests in innovative transport solutions, renewable energies, and low-emission products for its customers. Contact Details Nicholas Leighton +1 949-478-5880 nick.leighton@nettresultsLLC.com Company Website https://www.dbschenker.com/usa

July 16, 2024 11:55 AM Eastern Daylight Time

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Standard Fleet and UP.FIT Partner to Modernize Government Electric Vehicle Fleet Management

Standard Fleet

Standard Fleet, an electric vehicle management technology developer, and UP.FIT, an Unplugged Performance company focused on the upfitting of Tesla electric vehicles for fleet use, today announced a collaborative initiative designed to enhance government electric vehicle (EV) fleet management. This effort brings together UP.FIT’s industry-leading expertise in customizing Teslas for specialty use with Standard Fleet's sophisticated fleet management software, aims to improve operational efficiency and support the environmental goals of government fleets including those managed by emergency responders and law enforcement. “Our collaboration with UP.FIT aims to equip police departments with the tools they need for a smoother, more cost-effective fleet management experience,” said David Hodge, Founder and CEO of Standard Fleet. “Integrating our software with UP.FIT’s customized Tesla vehicles means we can offer a system that improves operational efficiency while supporting environmental goals.” "Our mission at UP.FIT is to simplify the adoption of electric fleets for first responders and fleet operators globally,” said James Hedland, Fleet Director at UP.FIT. “Standard Fleet software gives operators complete control of the access, charging, maintenance, and dispatching of their up-fitted EVs. Together we’re providing police departments and other city and county fleet operators with an electric vehicle management system proven to enhance performance and operational efficiency." The partnership addresses a growing need for cost-effective and responsible deployment of EV fleets in public service by merging the expertise and capabilities of UP.FIT and Standard Fleet. This initiative is poised to redefine fleet management for government entities, enhancing both vehicle functionality and operational oversight. Key Benefits of the Partnership: Improved Operational Efficiency: Standard Fleet’s software streamlines the management of charging, maintenance, and daily operations of EVs, reducing both time and costs for fleet managers. Tailored Vehicle Customizations: UP.FIT modifies Tesla vehicles to meet the specific needs of police and public safety operations, enhancing their reliability and suitability for work in the communities they serve. Environmental Impact: The shift towards EVs helps reduce emissions and air pollution, and aligns with local, state, and federal environmental objectives. Sergeant Tony Abdalla from the South Pasadena Police Department, a client benefiting from this partnership, stated, “Adopting electric vehicles for police work presents a unique set of challenges along with opportunities to better serve our community with a cleaner, more reliable, and higher performance police fleet at lower costs over the long term. Standard Fleet technology gives us mobile access to all of our EVs to enhance our operations from dispatch, charging, maintenance, and analytics, to keyless access for officers coming on- and off-duty. Combining Standard Fleet software with the hardware and digital technology upgrades installed by UP.FIT puts our fleet at the forefront of sustainability and performance.” This initiative underscores the potential of technology to improve public sector operations and promotes the adoption of sustainable practices in fleet management. As police departments and other city and county fleet operators increasingly turn to electric vehicles, Standard Fleet and UP.FIT provides scalable, impactful, and effective solutions for the challenges of modern fleet operations. To learn more about this strategic collaboration, please visit here. Useful Links: Learn More: www.standardfleet.com About UP.FIT: https://up.fit/ Follow us: Blog | X | Instagram | LinkedIn Sales and Partnership Inquiries: Please email Standard Fleet at contact@standardfleet.com. About Standard Fleet: Founded in 2021 and based in San Francisco, Standard Fleet envisions a future where electric vehicle (EV) fleets are at the forefront of sustainable transportation, supporting a more environmentally friendly approach to urban mobility. The company’s software simplifies the management of electric vehicle fleets by enhancing operational efficiency and facilitating the transition to sustainable transportation. For more information, please visit www.standardfleet.com. About UP.FIT: Based in Hawthorne, CA, UP.FIT, an Unplugged Performance company, is the global leader in upfitting Teslas for fleet use. Launched in response to the growing need for advanced, sustainable fleet solutions, UP.FIT collaborates with industry leaders to engineer high-level components, turnkey vehicles, training, and innovative management tools. The UP.FIT mission is to provide first responders with the most innovative, safe and reliable equipment possible, all while driving to a cleaner tomorrow. Contact Details ANW Networks for Standard Fleet Alicia V. Nieva-Woodgate +1 720-808-0086 alicia@anwnetworks.com Company Website https://www.standardfleet.com/

July 16, 2024 11:30 AM Eastern Daylight Time

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Sono Group: Driving the Future with Solar-Powered Commercial Vehicles

Sono Group N.V.

Sono Group Managing Director George O’Leary joined Steve Darling from Proactive to discuss the company's strategic focus on integrating solar technology into commercial vehicles, particularly their flagship product, the Solar Bus Kit. This innovative product underscores the company's commitment to the concept of "solar essence," utilizing efficient, scalable, and low-cost solar photovoltaic (PV) panels. Sono Group's business model is primarily B2B, targeting original equipment manufacturers (OEMs), bus manufacturers, and bus suppliers. Recent funding will sustain the company through June 2025, enabling them to concentrate on enhancing personnel, product development, and maintaining transparency. O'Leary highlighted the company's ambitious vision for the next three to five years, which aims to create a world free from fossil fuels by installing solar technology on all commercial vehicles globally. Sono Group plans to expand its solar solutions across various types of buses, whether diesel or electric. Furthermore, the company intends to move to a major stock exchange to enhance shareholder value, following their recent listing on the OTCQB market. This forward-thinking approach not only aligns with global sustainability goals but also positions Sono Group at the forefront of the solar technology integration in the commercial vehicle sector, driving innovation and fostering a greener future. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

July 10, 2024 11:55 AM Eastern Daylight Time

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NAFA to Host Fleet Policy Workshop Focused on Comprehensive Fundamentals and Best Practices in Fleet Management

NAFA Fleet Management Association

In the evolving landscape of fleet management, effective and well-structured policies are critical to ensuring compliance, efficiency and overall success. To address these needs, NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, announces the development of a Fleet Policy Workshop event for fleet professionals from October 7-9, 2024, in Indianapolis, IN. This interactive workshop is designed to empower fleet professionals with the knowledge and tools to develop, implement and manage comprehensive fleet policies effectively. “Well-crafted fleet policies are the backbone of successful fleet operations. This workshop is tailored to provide fleet managers with a detailed understanding of policy creation and application, ensuring they are equipped to handle the complexities of modern fleet management,” said Bill Schankel, CAE, CEO of NAFA. “We are thrilled to bring this dynamic program to Indianapolis, providing a platform for learning, collaboration and practical skill development.” The Fleet Policy Workshop will offer a deep dive into the full cycle of policy strategy, development, implementation and assessment. Participants will gain valuable insights from industry experts and engage in hands-on activities designed to provide practical experience and immediate takeaways. Sessions at the workshop will cover a range of critical topics, including: Fundamentals and Strategies of Policy Writing Policy Needs Assessment and Implementation Customizing Fleet Policies Conducting Policy Audits and Assessments Registration for the Fleet Policy Workshop is currently open, with early bird pricing available through August 9, 2024. To learn more about the workshop and register, please visit https://www.nafa.org/events/fleet-policy-workshop/. NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes, and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and X. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

July 08, 2024 02:00 PM Eastern Daylight Time

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Benchmark International Successfully Facilitated the Transaction Between MTS Transportation, Inc. and High Desert Management Group, LLC

Benchmark International

Benchmark International is pleased to announce the transaction between MTS Transportation, Inc. and High Desert Management Group, LLC. The transaction represents a strategic expansion for High Desert Management Group, LLC, as it works to achieve scale through acquisitions and service diversification. MTS Transportation, a company with a rich history, was established in Amarillo, Texas, in 1982 and incorporated in 1990. It all began with a single tractor and refrigerated trailer to take on servicing the 3PL needs of the Texas Panhandle market. For over four decades, the company has continued to provide 3 PL services, full truck load transportation of refrigerated products, dry freight, flat bed, bulk carbon black, and bulk milk transportation on long or short hauls nationwide. “Thank you for everything you have contributed to, the timely and knowledgeable direction and for always having the time to help where and when needed. It was so appreciated.” – Tim Merrill, CEO of MTS Transportation. High Desert Management Group, LLC, a newly formed holding company in Texas, is looking to continue expanding its footprint in the Texas market with its experience in the trucking industry. High Desert Management Group, LLC intends to continue working to streamline its service operations related to dry freight products and refrigerated products in the Texas market. “It was exciting to get to the finish line with our client and even more exciting to help our client continue onto their next chapter in life, which we hope is filled with even more quality time with their friends and family. The Benchmark team has enjoyed working with MTS Transportation and High Desert Management Group, LLC through this process, and we wish both parties the best of luck in their future endeavors.” – Jeffrey Garza, Deal Associate, Benchmark International. Americas: Sam Smoot at +1 (813) 898 2350/ Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 08, 2024 10:25 AM Eastern Daylight Time

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Spring Bird Celebrates Significant Growth and Expands Reach Across the U.S.

Spring Bird

Spring Bird, a leading provider of heavy-duty transit solutions, is proud to announce its remarkable growth and expansion over the past six months. As a company deeply rooted in the Carson family's longstanding legacy in the transit industry, Spring Bird continues to set new standards in quality, customer satisfaction, and innovation. In the last six months, Spring Bird has successfully delivered transit buses for sale or lease to various key locations, including Texas, Chicago, New York, Idaho, Northern California, and an airport in Southern California. This expansion demonstrates our commitment to meeting the diverse needs of transit operators nationwide and highlights the trust and confidence our clients place in our products and services. "Our available fleet has seen significant growth, now boasting over 100 heavy-duty transit buses with fleet likeness. This uniformity not only provides a cohesive appearance for transit systems but also enhances maintenance efficiency, allowing for smoother operations and reduced downtime. Our dedication to quality and reliability ensures that each vehicle in our fleet meets the highest standards of safety and performance," said Elliott Carson, CEO of Spring Bird. This growth has propelled Spring Bird to become the second-largest supplier of certified pre-owned heavy-duty transit vehicles in North America. Our extensive inventory and comprehensive rehabilitation services, including minor repairs, major overhauls, and retrofitting with advanced technology such as low-emission engines and GPS systems, make us the preferred choice for transit operators seeking dependable and cost-effective solutions. "Our recent achievements are a testament to the hard work and dedication of our team and the trust of our clients," Carson added. "We are committed to continuing our legacy of excellence and innovation, providing top-quality transit solutions that meet the evolving needs of our customers." Spring Bird's success is built on a rich history of the Carson family's contributions to the transit industry, dating back to 1943. From the founding of Cross Town Lines to the establishment of Spring Bird by Elliott Carson, the company's journey reflects a deep-seated commitment to quality, customer satisfaction, and industry leadership. As we look to the future, Spring Bird remains focused on expanding our reach, enhancing our services, and delivering exceptional value to our customers. We are excited about the opportunities ahead and look forward to continuing our tradition of excellence in the transit industry. About Spring BirdSpring Bird is a premier provider of transportation solutions specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Contact Details Media Contact press@springbirdbus.com Company Website https://springbirdbus.com

July 02, 2024 11:17 AM Central Daylight Time

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Flash Appoints Chris Donus as President

Flash Parking

Flash, the leading end-to-end parking technology platform, today announced that Chris Donus, the current CFO, has been appointed president of the organization. In the newly established role, Donus will expand his focus on day-to-day operations, working closely with the leadership team to execute transformative strategies that include the expansion of Flash’s burgeoning digital demand network, EV charging and parking platform scale, and driving the company’s regionalized branch organization to deliver unmatched partner experiences. Dan Sharplin will continue in his role as Chairman and CEO, focusing on international growth, strategic transactions, and ecosystem partnerships. “This promotion reflects Chris’s exceptional leadership and expertise at this time of tremendous momentum for Flash as we rapidly scale our industry-leading parking and EV charging digital ecosystem," said Flash CEO Dan Sharplin. “In the next 24 months, we anticipate more transformation in the parking industry than we’ve seen in several decades prior. Chris has the relevant experience to ensure we execute on our priorities that allow us to drive this industry transformation.” “We are building a parking and EV charging ecosystem where a seamless driver experience benefits everyone,” said Donus. “There is an incredible amount of innovation and hard work being done across Flash to build the platform and partnerships that further our position as the leader in parking and EV Charging technology. I look forward to ensuring the value we create is incomparable in my role as President of Flash.” Before Flash, Donus served as COO and CFO at Wheel Health, a venture-backed telehealth platform developer designed to connect companies and clinicians to deliver virtual care. He also served in senior leadership roles at Lyft as VP and Business Unit leader of Express Drive, the customer-facing fleet line of business, generating over $400 million in rental revenue and over $2 billion in Lyft rides. Prior to that, he was president of Silvercar from 2015 to 2018 alongside roles as COO, from 2017 to 2018, and CFO from 2012 to 2015. He has also served in leadership roles at Freescale Semiconductor, Hertz Global Holding, and Lucent Technologies. About Flash Flash is a pioneering technology company bringing seamless parking and EV charging experiences to drivers through a first-of-its-kind digital ecosystem. Flash’s platform connects reservable parking and charging in the apps drivers use every day with garage, surface lot, event, and valet parking locations—connected and controlled via a cloud-based operating system with unrivaled intelligence. Customer-obsessed brands partner with Flash to deliver digital, easy-to-use, reliable, and increasingly frictionless experiences to drivers eager to pay for a solution that eliminates wasted time, excess emissions, and stress. The solution has arrived. Contact Details Razor Sharp PR Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.flashparking.com/

June 27, 2024 10:00 AM Central Daylight Time

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LOBO Technologies Wants To Have It All With Line Of Electric Mobility Products, And Investors Seem To Be Taking Notice Of Its Expansion Plans

Benzinga

By Meg Flippin, Benzinga From bikes to scooters, the electric vehicle market is taking off, driven by greater awareness around the benefits of EVs, demand for better mobility solutions in dense urban settings and supportive government policies. As a result, the global e-bike, e-trike and e-scooter industry is forecast to reach $77.6 billion by the end of 2028, growing at a CAGR of 11.6%. LOBO Has It All For players in this market, going after just one area of the EV industry can be a big opportunity, but operating in it all including e-bicycles, e-mopeds, e-tricycles and electric off-highway four-wheeled shuttles, plus offering automobile information and entertainment software on top of that, can be game-changing. That is exactly what LOBO Technologies Ltd. (NASDAQ: LOBO) is doing. The Chinese EV manufacturer has a multi-pronged approach to dominate the market with its wide range of electric mobility vehicles. LOBO, which already has an established track record, is aiming to be an OEM and ODM leader in the intelligent urban e-bike, e-trike and off-highway four-wheeled electric vehicles (EVs) market over the next decade by making EVs tailored for various demographics, including mobility solutions for the elderly and disabled. The company follows an asset-light business model through which it leverages its just-in-time production model to align supply and demand trends and minimize excess inventory. To keep margins high, the company outsources the production of some models that are more costly to make in-house. Innovating In The Marketplace LOBO is an innovator in the industry, leveraging advanced technologies in connectivity, multimedia, interactive systems and artificial intelligence to enhance users’ experiences and stand out from its rivals. Take its recently launched solar-powered electric tricycle for one example. It is equipped with high-quality solar panels designed to capture and convert the sun's energy, providing continuous power to the tricycle's electric motor. This environmentally friendly tricycle helps reduce carbon emissions, is cost-effective and is easy to maintain, reports LOBO. Then there is its “King of the Load” e-trike, which is a special-purpose vehicle designed for commuters and delivery services. These e-trikes are not just vehicles but also powerful tools that empower users by providing a means of livelihood, which LOBO says is especially critical in developing countries for increasing income and improving quality of life. Overseas Expansion LOBO is also focusing on growing its footprint, going after emerging markets seeing increased interest in EVs. That includes ASEAN countries, Eastern Europe – including Serbia, Bulgaria and Ukraine – and Latin America. That cushions the blow from any slowdown in China. All of those markets are growing for LOBO, particularly in Latin America. Earlier this month, LOBO announced it received its largest single order for e-bikes this year, including electric tricycles, electric bicycles and its newly introduced solar-powered electric tricycles, from Ecuadorian resellers. “Latin America is one of several global markets we’ve targeted for rapid expansion, and this latest order from Ecuador is a testament to our growing footprint and the strong demand for our products in this region,” said CEO Huajian Xu. So far in 2024, LOBO says it has consistently received orders for e-bikes and e-trikes from Latin American dealers in Brazil, Chile, Suriname and other countries. This week LOBO hosted one of Brazil’s top ten electric mobility dealers, which it had been doing business with for about a year. Following the visit, which included a site inspection, the dealer, which generates more than $8 million a year in sales of short-distance electric vehicles, has determined it will consolidate its production and procurement with LOBO. Up until now, it had used several Chinese manufactures. “The Brazilian team was particularly impressed with our new model electric tricycles and small four-wheeled elderly mobility vehicle samples. They closely examined the detailed design and craftsmanship, praising our R&D and manufacturing capabilities. The on-the-spot discussions about specific vehicle orders indicate their strong intent to form a close cooperative partnership,” said Xu. LOBO has been steadily gaining share over the past few years in Latin America and elsewhere, which it credits to its ongoing investment in R&D. That enables LOBO to develop products that resonate with the masses and provide a greener alternative. That is particularly important in the new markets LOBO is going after. Not only are its EVs cheaper than gas-powered vehicles, they can have a huge positive impact on global warming. They don’t add to emissions and can replace cars in many instances. In the U.S., three-fourths of all trips are ten miles or less, highlighting the utility of EVs. Manufacturing Might Beyond expanding its footprint, LOBO is beefing up its manufacturing so that it can quickly and affordably churn out innovative e-bikes, e-scooters and other green mobility vehicles. Case in point: proceeds from its $5.5 million IPO in March went to expand capacity in a new factory in Wuxi by 20%. That is the equivalent of $27 million in product, LOBO reports. Investors seem to have been taking notice of all these positive developments, with shares of LOBO recently jumping 16.4% over its order from Ecuador and overall growth. At last check, LOBO has 150 distributors in China and 60 spread out around the result of the world. LOBO plans to expand into two to five more countries this year and strike more partnerships. Given its expansion plans, LOBO’s recent run may not be over yet. Featured photo by Maixent Viau on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 26, 2024 08:35 AM Eastern Daylight Time

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