Chinese company eyes global electric two wheels market
Chinese company Niu will accelerate its overseas expansion in 2024 to boost electric two-wheeled transportation sales, after the global sales surge for Chinese electric cars.
The Nasdaq-listed Niu released new e-motorcycles, e-bikes and e-scooters in Beijing on Thursday, showing its "micro-mobility" strategy.
"We provide people another choice besides cars, making roads less congested and the environment better," said Li Yan, chief executive of Niu, which now has 6.5 million users globally.
The concept is welcomed in the European and American markets, where Niu's products, often priced at more than US$2,000 each, sell well. In 2024, Niu will double its sales channels in the US market by expanding coverage in brands such as Best Buy, Li added.
An electric motorcycle that can go off-road is popular in the global market.
In Asia, Niu is testing battery swap services in markets including Singapore, Malaysia and Indonesia.
In the domestic market, the company plans to open 1,000 to 2,000 stores to boost sales in 2024.
Niu will integrate artificial intelligence features in its products and improve their battery capacity and quality. All components and chips are domestically developed now, which makes them free from technology sanctions.
The company also raised the issue of battery safety, which raised public concern after an accidental fire in Nanjing of Jiangsu Province.
On February 23, a fire occurred in a residential building in Nanjing and resulted in 15 deaths. The fire started on a level where e-bikes were parked.
Fire accidents occurred with unregistered or low-quality e-bike batteries. However, China is drafting a mandatory national e-bike battery standard for safety and Niu was involved to offer advice, the company told Shanghai Daily.
