Niu’s Electric Scooter Sales Jumped 58% in Second Quarter

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By Ding Yi / Jul 08, 2021 06:24 PM / Business & Tech

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China’s Niu Technologies reported a 58% jump in the number of electric scooters it sold globally in the second quarter of 2021, largely buoyed by strong demand in its home market.

In the three months through June, Niu sold 252,998 electric scooters, compared with 160,138 in the same period of 2020, it said in a statement on Tuesday.

Niu’s domestic scooter sales surged 59% year-on-year to 246,018 for the quarter, which the company attributed to the launch of four new products and an expansion of its retail network.

Its overseas scooter sales for the quarter rose 35% year-on-year to 6,980, which Niu said was mainly due to the recovery from the Covid-19 pandemic, especially in the European and North American markets.

Niu CEO Li Yan has said that he expects overseas markets to soon contribute 50% of the company’s sales.

Contact reporter Ding Yi (yiding@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)

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