Chinese electric scooter firm Niu Technologies posted double-digit growth in sales in both domestic and international markets in the second quarter, the company announced in a statement.
- Second-quarter sales totaled 252,998. Units sold in China climbed 58.8% to 246,018, while international sales grew 34.8% to 6,980. Year-to-date total sales more than doubled to 402,667 with local sales at 390,672 and international sales rose at 11,975.
- Growth is driven mainly by the launch of new products such as the F0, F2, F4, and C0 models in April. The company also expanded its network with 450 stores opened in China during the quarter.
- International sales grew as countries started to recover from the COVID-19 pandemic, especially in Europe and North America. Deliveries were still affected by shipping constraints.
The G0 and F0 models accounted for 30.4% of the sales during the quarter.
NIU is down 1.06% premarket.