Chinese electric scooter manufacturer NIU is fast carving a niche for itself in its dominance of the electric scooter market. It has now drawn comparisons with Tesla, the leader of the global EV market. The Beijing-based company has continued to post impressive results both in its home market and internationally.
The recently released NIU sales statistics for Q2 2021 and the H1 2021 figures show an impressive performance year on year for the company. With 252,998 new electric scooters sold in Q2 2021, this was a 58% growth from Q2 2021. Similarly, the first-half results for 2021 also showed that NIU sold 402,647 scooters, representing a massive 101% increase year on year. The tremendous half-year growth rate was due mainly to the coronavirus pandemic, leading to a lockdown across several countries in 2020. At the same time, the home market of China accounts for a chunk of the customers.
To put the impressive performance of NIU in proper perspective, the company has sold as many e-scooters as Tesla sells cars globally. The energy requirements of e-scooters are significantly lower than that of electric vehicles, and NIU could post significantly higher numbers by the year’s end, going by its solid trajectory for several years thus far.
NIU is growing its repertoire of electric mobility solutions with an expanded focus from its initial plans, which targeted mid- and high-speed electric scooters for premium users. An electric motorcycle could be released by NIU later this year. The NIU electric standing scooter, released earlier in the year, has decent reception in China.
NIU will hope to cement its dominance of the electric scooter market for entry-level, mid-, and high-end products. The international market is still very open for a massive expansion by the Chinese brand.
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