Chinese e-mobility brand NIU is already one of the biggest EV brands on the planet– last quarter, they got ever bigger.
NIU has logged literally billions of miles from its cloud-connected e-bikes and e-scooters, and become one of the best-selling brands of electric two-wheelers on the planet. Despite being an established player, NIU brought a pair of new product lines to market last summer– pedelec e-bikes and electric kick-scooters– that have exploded sales.
In the company’s Q1 earnings call earlier today, NIU CEO Yan Li explained that the company, “had a strong opening in China with sales volume growth of 91.6% year over year in January and February … total sales volume outside China reached 14.7k marked 193.7% year over year growth in Q1. The solid growth was a result of our expansion of new product categories sold in Europe and North America.”
NIU Electric Vehicles
“We newly launched kick scooters were tested to be a success in the two-market mentioned above,” continued Li. “In this quarter, we sold nearly a 5000 electric moped and almost 10,000 kick scooters. The strong sales performance in the new kick scooter product category confirmed our effort in developing and diversified products tailored to different markets is paid off. We have built the infrastructure to support the design development and marketing alpha product offerings. Augmented about wide market rich in a geographic locations around the world, we aim to provide urban mobility solutions to the global market.”
The entire earnings call was reproduced by the market analysts at Seeking Alpha, and covered NIU’s commitment to reaching female customers, sustainability, and helping to build the NIU community with a new social outreach program. You can check that out here, and let us know what you think of NIU’s progress in the comments section at the bottom of the page.
SOURCE | IMAGES: NIU, VIA SEEKING ALPHA.