The Chinese electric scooter manufacturer Niu continues to grow. Niu plans to expand further and mentions a partnership with Volkswagen. The share price also responds positively to the development of the Chinese manufacturer. Thus, the Niu shares have gained almost 17 percent since the middle of last week and this is before the announcement of the results from the past financial year.
Niu sold 93,611 electric scooters worldwide in the fourth quarter of 2018, 77.9 percent more than in the same period of the previous year.
In addition, 118 new franchise stores were opened in China. Niu already has over 760 franchise stores in 178 Chinese cities. The NIU international sales network now includes 27 countries.
Looking at the year as a whole, net sales reached around 193.913 million EUR. This is an increase of 92.1 percent compared to 2017. This is principally due to the 79.2 percent increase in the sale of electric scooters and only 89.3 percent of sales go to the account of the Chinese market. For the full year, Niu announced revenue of $220.1 million and $52 million in losses.
Niu also states in his annual report that a partnership agreement with Volkswagen Group has recently been accepted for the development of micro-mobility solutions. Exact details are not available at the moment.
Volkswagen presented two micro mobility concepts at the Geneva Motor Show: the two-wheeled Streetmate e-scooter and the three-wheeled Cityskater. While the first is up to 45 km / h fast, the latter is designed for up to… Continue reading
Electric car sales almost doubled in the first half of 2019, compared to the first six months of last year. 100% electric vehicles registered an increase of 92% during this period, with 765,000 units being sold globally. According to JATO… Continue reading
The Peugeot Ludix was launched in 2000. Thirteen years later, it was a best-seller with more than 230,000 manufactured. The French brand is now looking to revalidate the title of best-seller on the two-wheel market with the Peugeot e-Ludix,… Continue reading
Kia has unveiled the EV5 Concept, an all-electric SUV concept that showcases the brand's vision and strategy for electrification in China. The Kia EV5 Concept is based on Kia's Opposites United design philosophy, which combines natural and… Continue reading
