In the first quarter of 2021, NIU sold 149,649 e-scooters, representing a 272.6% year-over-year growth. The number of e-scooters sold in China market reached 144,654, representing a 321.5% year-over-year growth.
Founded in 2014, Niu Technologies (NASDAQ: NIU; listed in Oct 2018), known as Xiaoniu Electric in China, currently designs, manufactures, and sells electric bicycles, mopeds, and motorcycles.
NIU has a product portfolio consisting of seven series, four e-moped series, including NQi, MQi, and UQi with smart functions and Gova, two urban commuter electric motorcycle series RQi and TQi, and a performance bicycle series, NIU Aero.
NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services.
By the end of 2019, NIU has sold more than 1 million smart two-wheeled electric vehicles in the world, with 1050 brand experience stores and exclusive stores in China, covering 181 cities.
Meanwhile, it has entered 38 overseas countries. So far, it has provided SaaS-based intelligent sharing business solutions for 20 shared electric vehicle operators in 13 countries around the world.