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.
Electric and hybrid cars are destined to undermine petrol cars within a few years. This is stated by the Cambridge Econometrics, whose study "Fuelling Europe's Future" was commissioned by the European Climate Foundation. According to British… Continue reading
Marketed since March 2013, the Renault Zoe can boast of being number one electric model sales in France and number two in Europe right behind the Nissan Leaf. Continue reading
For the first time, Volkswagen is offering a limited edition of 30,000 copies called "ID.3 First" with special equipment and a medium-sized 58 kWh battery, which should be suitable for up to 420 kilometers according to the new WLTP standard.… Continue reading
Fiat Ducato: the best seller of Fiat Professional commercial vehicles is renewed with the model year 2020, which introduces an updated design, more technology for safety and onboard connectivity, an updated gearbox with a 9-speed automatic… Continue reading
