Niu Technologies has posted a 58.3% growth year-on-year in e-scooter sales to reach 397,079 in the third quarter of FY 2021, according to a press release by NIU on Monday.
- The Chinese provider of smart urban mobility solutions sold 392,112 units in China, marking a 59.9% expansion YoY.
- The impressive growth in the China market was mainly backed by retail network expansion and promotion activities. The company added new stores in China in Q3.
- NIU also offered sales discounts for popular models during Q3 to attract new customers to start using e-scooters for urban commute and encouraging the replacement of older and non-compliant e-scooters.
- Internationally, the sales units of e-scooters dropped 11.2% YoY to 4,967 following the resurgence of COVID-19 in Europe and challenges in ocean freight shipping.
The successful launch of the kick-scooter, KQi3, attracted over 15,000 units in orders during the third quarter. The most significant three models were G0, F0, and C0 that constituted nearly 40.6% of the total sales volume. NIU up +3.54%, Pre-market trading