Niu Technologies: Sold 1 Million Electric Mobility Units Worldwide and Raised Annual Production Capacity to 2 Million Units in 2021

Niu Technologies is a Chinese smart urban mobility solutions company established in September 2014. In addition to developing, manufacturing and selling BEV scooters, it also develops its own fleet vehicle management platform. Products are mostly sold in China, but since 2019, Niu has been providing BEV scooters and platforms to sharing service providers in Europe and the United States, and is also strengthening its retail sales business for private users mainly in Europe. By 2021, more than 1 million units of electric mobility (BEV scooters / mopeds, electric kickboards, e-bikes) were sold worldwide. The company has three factories in Changzhou City, Jiangsu Province with a combined production capacity of 2 million units per year.

Niu has been using Bosch motors and Panasonic cylindrical cells to highlight the quality of its BEV scooters; however, recently it also uses motors made in-house and those made by Chinese suppliers. Niu procures battery cells from four companies. In addition, Niu is also working on upgrading removable battery packs, and announced the 7th generation lithium-ion battery NIU Energy at CES 2022 held in Las Vegas, USA in January 2022. In 2022, Niu plans to enter the electric motorcycle sector.

NIU Technologies: Company Overview

Overview

・Niu Technologies is a Chinese BEV scooter startup founded by Hu Yilin, who has developed a BEV scooter based on the Honda Zoomer. In September 2014, Beijing Niudian Technology Co., Ltd. was established in Beijing after raising 72 million CNY through crowdfunding. Another company Jiangsu Xiaoniu Diandong Technology Co., Ltd., a wholly-owned subsidiary in Changzhou City, Jiangsu Province, is in charge of production and R&D, and has two subsidiaries responsible for sales and IT business. Niu Technologies was listed on the NASDAQ in October 2018. The corporation is a non-resident company in the Cayman Islands and is a wholly owned subsidiary of Niu Technologies Group Limited in Hong Kong. The wholly-owned subsidiary Beijing Niudian Information Technology Co., Ltd. has a complex organizational structure in which the actual business is entrusted to Beijing Niudian Technology Co., Ltd. Non-resident companies on the Cayman Islands do not have tax or reporting obligations, and only one shareholder or director is required, so many Chinese companies use this system.

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