SHANGHAI/SINGAPORE (CHINA) – Electric scooter maker Niu Technologies is holding talks to supply its vehicles to Southeast Asian ride-hailing firm Gojek to increase market share in the region, said its CEO.
Niu manufactures scooters and motorcycles powered by lithium-ion batteries and 95% of its sales by unit are in China. It has been sending some scooters to Gojek for testing, said CEO Li Yan.
“We definitely want to grab market share globally,” Li said. “But this depends on further drops in the cost of battery cells, which is helped by the scaling up of electric vehicles.”
The biggest players in the two-wheeler market in Southeast Asia are Honda and Yamaha.
Last year, Niu sold 600,892 two-wheelers across the world, which is up from 43% on 2019. About 95% of these sales were made in China and mostly came from the country’s top 20 to 30 cities, said the CEO.
Niu procures its battery cells from Panasonic, Samsung SDI, LG Chem and Eve Energy.
It has 1,600 showrooms in China and also more than 100 shops overseas.