Electric scooter manufacturer Niu Technologies (NIU.US) on Monday announced it sold 226,634 e-motorcycles, e-mopeds, kick-scooters and e-bikes in the fourth quarter, up 65% year-on-year.
Sales in China reached 182,333 units, while international markets contributed 44,301 units, both up 65% year-on-year. The company attributed the increase in China to the launch of new models and the fulfillment of backlogged orders from the third quarter, following the implementation of new battery and electrical system safety standards in late October. Sales of new models accounted for over 70% of the total.
Niu recorded sales of 924,340 units for all of 2024, up 30.2% year-on-year, including 759,094 units sold in the China and 165,246 sold abroad. The company’s stock rose 1.13% to $1.79 on Monday in New York after the results were released.
By Lee Shih Ta
To subscribe to Bamboo Works weekly free newsletter, click here
