Jul 17, 2019 (China Knowledge) - Niu Technologies, a Chinese electric scooter company, announced its plan to expand into US and other overseas markets. It is among the earliest companies affected by the trade war, in which the tariffs had been raised to 25% before the company entered the US earlier this year.
The Beijing-based company entered the US market after obtaining a license from the federal government in March. It deployed 1,000 electric scooters in New York City through the city’s scooter sharing services like Revel. Niu plans to go to retail and open new stores in the US.
Niu’s US plan follows its action in Europe, which is currently Niu’s biggest overseas market. Sales in Europe have increased to 16,000 units in 2018 from a few hundred when it first entered the continent in 2016.
Among the 66,284 smart electric scooters it sold globally in the first quarter of 2019, overseas markets accounted for 18.8% of Niu’s overall sales. The company expected that overseas markets will continue to grow as the need for more mobility options is not unique to China. Two-wheelers are in huge demand globally for its affordability compared to other solutions to transport.
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