India, May 15 -- Lobo EV Technologies Ltd. (LOBO) surged 28 percent to $1.11 on Thursday after announcing a strategic partnership with a U.S.-based distributor in Atlanta. The collaboration targets markets such as tourism, recreation, and golf courses, with plans to distribute 5,000 customized four-wheeler electric vehicles, potentially generating $6 million in revenue.
LOBO opened at $1.39 and traded between $0.9569 and $1.58 on volume of 61.3 million shares, sharply higher than its average of 1.6 million on the Nasdaq. The stock is trading within its 52-week range of $0.46 to $3.52.
The company also hinted at launching a dual-power electric and gasoline vehicle for longer-range transportation needs.
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