In an attempt to diversify its portfolio, LOBO, which is a fast-growing electric mobility products manufacturer, has officially declared its intentions to enter into a strategic alliance with Green Gold Asia. The partnership is particularly geared towards introducing a brand new portfolio of electric bikes and tricycles into the Indonesian market.
By offering a range of sustainable mobility solutions in a market that is increasingly dominated by fast-paced urbanization and middle-class growth, this specific program has the purpose of complementing LOBO’s goals of global growth in a very effective manner.
By 2030, the electric vehicle market in Indonesia, which is primarily centered around two-wheelers and three-wheelers, has been estimated and forecast to grow manifold to reach an incredible value of more than $5 billion USD. With this strategic partnership, a vast network of charging stations, as well as high-end premium electric cars, will be established by effectively merging LOBO’s advanced and innovative technology with the local expertise and experience provided by Green Gold Asia.
During its first year of business, the joint venture will create over $5 million USD in value, while at the same time creating a greener, more people-friendly transportation system. The ambitious endeavor is only part of LOBO’s overall expansion plans to strengthen its presence and activities in countries like Africa, Latin America, and Southeast Asia.