Shares of Niu Technologies (NIU) skyrocketed 15.62% on Monday, driven by the company's robust sales performance in the third quarter of 2024 and the highly anticipated U.S. launch of its latest electric kick scooter.
Niu reported a significant jump in its Q3 sales volume, selling 312,405 units across its lineup of e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. This figure marks a substantial increase from the 265,923 units sold during the same period last year. The strong sales growth was fueled by robust demand in both the domestic Chinese market, where Niu sold 259,094 units, and international markets, accounting for 53,311 units.
Adding to the investor enthusiasm, Niu unveiled its latest product, the KQi 100F kick scooter, at the Electrify Expo in New York. The event, which took place on October 12-13, marked the U.S. launch of the high-performance, easily transportable scooter designed for urban commuters. With its sleek design and cutting-edge technology, the KQi 100F is expected to cater to the growing demand for sustainable urban mobility solutions in the American market.
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