Chinese electric bikes “Made in Serbia” – Pancevo-based company to assemble parts worth USD 5 million a year

LOBO EV, a Chinese producer of e-bikes, has announced that it is expanding the partnership with its Serbian distributor in order to unlock the possibilities of the regional market, worth more than USD 8 billion.

LOBO says that the Serbian distributor has obliged to procure components for e-bikes in the amount of around USD 5 million a year directly from LOBO. These CKD components in a CKD regime (Complete Knock Down - in parts) will be used for a local assembling of e-bikes tagged “Made in Serbia”, which will then be placed on the market of Serbia and neighboring countries.

As the Chinese company announced a year ago, this pertains to the Pancevo-based company CSM 2017, and the cooperation initially pertains to assembling the CSM-01 e-bikes.

– LOBO EV is currently completing the development of the CSM-01 model and preparing a production line for the CSM 2017 partner. LOBO will produce and assemble most of the parts in China, securing the quality and reliability of e-bikes before they are exported to Serbia for the purpose of the final assembly. In addition to that, the facility in Serbia will offer its clients services of current maintenance, further emphasizing the dedication of both companies to customer satisfaction and after-sale support – the company said in April last year.

The wider European e-bike market was estimated at USD 4.2 billion in 2022, and Data Bridge Market Research projects that the value will more than double and exceed 8.1 billion by 2030. With this cooperation, LOBO EV expects to gain a unique position for taking a market share in the region which includes over 100 million potential consumers throughout the Balkans and the surrounding EU countries.

LOBO EV Technologies Ltd. is an innovative designer and manufacturer of e-bikes, e-mopeds, e-tricycles and 4-wheel off-road electric shuttles. The company also specializes in multimedia interactive systems with artificial intelligence and is expanding to the production of medical technology.

B. P.

CSM 2017 doo Pančevo

LOBO EV Technologies Ltd

CSM 2017 Pančevo

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