Niu Technologies

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Niu Technologies
Company typePublic
ISINUS65481N1000
IndustryVehicle manufacturing, eMobility
Founded2014
FounderLi Yi'nan, Token Yilin Hu
HeadquartersBeijing, China
Key people
Yan Li
Revenue
  • Decrease US$459 million (2022)
  • US$581 million (2021)
  • Decrease-US$7 million (2022)
  • US$35 million (2021)
Number of employees
500-800
Websitehttps://www.niu.com/
NIU N1 (later renamed NQi) scooter in Vienna

Niu Technologies (Chinese: 牛电科技; stylized as NIU) is an electric scooter company headquartered in Beijing, China.[1] Yan Li has been its CEO and COO since December 2017.[2][3]

Niu's products include electric scooters, electric bicycles, e-scooters and electric motorcycles. Niu vehicles include digital displays, Bluetooth connectivity, and mobile apps that let users track their rides, map their routes and monitor battery life.[4][5]

History

The company was founded in 2014 by Baidu’s former chief technology officer, Li Yinan, and Token Yilin Hu. The first Niu scooters were crowdfunded.[6] It differentiated itself by using lithium-ion batteries as opposed to the cheaper lead-acid alternatives widely used in Chinese e-scooters at the time.[7]

In 2018, it was listed on the NASDAQ stock exchange under the ticker NIU.[8]

In 2019, Revel Transit launched in New York City with 1,000 Niu electric scooters, later expanding to Washington DC, Austin and Miami.[9]

In 2021, Niu expanded its product line to include electric bikes.[10]

In 2023, the company launched its first electric dirt bike called XQi3.[11][12]

Sales

As of 2018, it had sold over 200,000 electric vehicles in 50 countries, and had a market share of 60% in the European electric scooter market.

Niu’s biggest overseas market is Europe which is driven by sharing platforms such as Belgium-based Scooty. Sales in Europe have increased to 16,000 units in 2018 from a few hundred in 2016.[13]

Finances

It had nearly $300M in revenue in 2019.[14] It has raised over US$125 million in funding from investors.

Year[15] Total Revenue

(US$ Mil)

Total Income

(US$ Mil)

2018 215 -50
2019 298 27
2020 375 25
2021 581 35
2022 459 -7

References

  1. ^ "Niu Technologies - Company Profile and News". Bloomberg.com. Archived from the original on 2023-12-28. Retrieved 2020-11-06.
  2. ^ "Yan Li, Niu Technologies: Profile and Biography". Bloomberg.com. Archived from the original on 2021-04-20. Retrieved 2021-04-20.
  3. ^ Kharpal, Arjun (2021-01-08). "Nasdaq-listed Chinese electric scooter firm Niu Technologies jumps 16% after sales bump". CNBC. Archived from the original on 2023-04-07. Retrieved 2021-04-20.
  4. ^ "niu". niu. Archived from the original on 2023-11-10. Retrieved 2022-07-05.
  5. ^ Toll, Micah (2018-06-13). "New NIUs: Chinese electric scooter maker unveils latest two models designed for the streets of Europe". Electrek. Archived from the original on 2022-07-05. Retrieved 2022-07-05.
  6. ^ Cheng, Evelyn (2018-09-26). "Chinese scooter start-up Niu is taking over Beijing streets, growing quickly in Europe, and is now filing for a US IPO". CNBC. Archived from the original on 2022-12-24. Retrieved 2024-02-10.
  7. ^ "Chinese escooter maker's stock accelerates 400% on Covid boom". www.ft.com. Archived from the original on 2023-04-09. Retrieved 2020-11-06.
  8. ^ "NIU filings on SEC.gov". www.sec.gov. Archived from the original on 2023-04-07. Retrieved 2020-11-06.
  9. ^ O'Kane, Sean (6 January 2020). "China's NIU starts selling its electric mopeds in the US". The Verge. Archived from the original on 12 January 2021. Retrieved 4 April 2021.
  10. ^ "Niu Technologies expands into e-bikes to grow international market presence". Bike Europe. 19 October 2021. Archived from the original on 2021-11-13. Retrieved 2021-11-13.
  11. ^ Clos, Jeffrey (2024-01-05). "Niu Technologies Unleashes Its First-Ever Electric Dirt Bike, The XQi3". CodeX. Archived from the original on 2024-02-14. Retrieved 2024-02-10.
  12. ^ Technologies, N.I.U. "NIU Technologies Launches Its First-Ever Fully Electric Dirt Bike". www.prnewswire.com (Press release). Archived from the original on 2023-11-12. Retrieved 2024-02-10.
  13. ^ Deng, Iris (2019-07-17). "Chinese electric scooter maker Niu pushes into US despite tariffs". South China Morning Post. Archived from the original on 2024-02-06. Retrieved 2024-02-10.
  14. ^ "NIU Technologies, NIU:NMQ profile - FT.com". markets.ft.com. Archived from the original on 2023-04-08. Retrieved 2020-11-06.
  15. ^ "Niu Technologies Financials". nasdaq. Archived from the original on 2022-10-20. Retrieved 2022-10-16.
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