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Chinese electric scooter maker Niu to supply Gojek: Reports

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Chinese language electrical scooter maker Niu to produce Gojek: Reviews

Niu Applied sciences (NASDAQ: NIU), the US-listed electrical scooter firm, has been in talks with Southeast Asian ride-hailing giant Gojek, Reuters reported on Tuesday, citing Niu’s CEO Li Yan.

Changzhou-based Niu manufactures lithium battery-powered two-wheelers—scooters and bikes—and it largely focuses on the home market, the place 95% of its gross sales are generated. Leveraging on the forthcoming collaboration with Gojek, Niu expects to increase its enterprise outdoors of China. It has despatched scooters to Gojek for testing, in line with the Reuters report.

“We undoubtedly wish to seize market share globally,” Li, CEO of the six-year-old Niu Applied sciences mentioned in an interview with the information company. “However this will depend on additional drops in the price of battery cells, which is helped by the scaling up of electrical automobiles.” Gojek declined to remark when contacted by KrASIA.

Based in 2014, Niu went public in October 2018 after elevating USD 63 million in its preliminary public providing by promoting 7 million American depositary shares at USD 9. Its inventory closed at USD 45.5 per share on Monday, with a market cap of USD 3.4 billion. In 2020, Niu offered roughly 600,892 e-scooters globally, representing a 42.6% year-over-year progress, with China contributing greater than 95%. Within the third quarter of 2020, Niu had revenues of 894.5 million, a rise of 36.7% year-on-year, with a gross margin of 20.9%.

On the finish of September, the agency owned 1,266 franchised shops in China, whereas its worldwide gross sales community expanded to 36 distributors overlaying 46 nations, in line with its third-quarter earnings report. It opened its first Indonesian flagship store in Jakarta in August.

Gojek is planning to check electrical bikes in Indonesia this yr as a part of its “GoGreener” commitments. It really works with the state-owned fuel and oil firm Pertamina for the business pilot in Higher Jakarta. At a press convention in January, Gojek chief transport officer Raditya Wibowo informed local media that the agency conducts trials for two-wheelers due to its decrease prices.

Customers are prepared to modify

Bikes are a heavy contributor to the air air pollution within the area, in order that power effectivity has turn out to be a necessity. Electrical automobiles (EV) are hailed as an answer for the issue. One in three Southeast Asian shoppers is keen to modify to an EV, in line with “The Future of Electrified Vehicles in Southeast Asia” introduced by Frost & Sullivan.

The research mentioned that 66% of shoppers consider they are going to ultimately undertake electrified mobility as a part of their lives within the close to future. It primarily refers to electrical automobiles, however contemplating that motorbikes are a well-liked transportation mode in nations equivalent to Indonesia, Thailand, and Vietnam, electrical bikes appear to have the numerous potential within the area.

Niu is doubling down and can have an annual manufacturing capability of greater than 2 million scooters from round April this yr, up from the present 1 million, in line with the CEO.


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