--NIU e-Scooter Models U+ and US Available Today--
--U Models Blend Style and Performance with Standards Compliance--
--Launches Lifestyle Brand NIU AERO Sports Bicycles--
-- High-Performance NIU AERO Takes Riders “Beyond Speed” --
BEIJING, April 12, 2019 (GLOBE NEWSWIRE) -- NIU Technologies (“NIU”, or “the company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced that the company launched two all-new e-scooter models, the U+ and US, together with a new lifestyle brand category, NIU AERO. NIU AERO features high-performance sports bicycles with the spirit of “BEYOND SPEED.”
“Our customers value a scooter-riding experience that is convenient, joyful and safe,” commented NIU Technologies’ CEO Dr. Yan Li. Li emphasized that NIU is delivering on this commitment, having sold over 640,000 e-scooters worldwide since inception. Those scooters have logged over 24 billion cumulative kilometers of riding pleasure in over 170 cities in China and 27 countries overseas.
U Series Products Tailored to Unique Needs of China Market
The new U models, U+ and US, feature an upgraded smart battery, which is the fourth generation of the Company’s NIU EnergyTM technology. Featuring more power in a smaller, lighter form factor, this battery helps make the new U models completely compliant with the recently implemented National Standards for Electric Bicycles. Effective nationwide on April 15, 2019, those regulations limit the weight at which a vehicle can qualify as an unlicensed “scooter” rather than a motorcycle. NIU believes the regulations will redefine the two-wheeler industry in China, causing the rapid phase-out of traditional lead acid-powered scooters. NIU’s modern lithium-ion battery technology enables it to easily offer compliant scooters that do not compromise on performance, safety, and style.
NIU EnergyTM technology is equipped with a self-developed C35 chip module containing dual CPU, GPS/BDS/GLONASS and GPRS/LTE. This advanced technology achieves the power and weight objectives through an optimized state-of-charge algorithm, a dynamic self-learning battery management system and configurable field-oriented control. These technologies enable an improved powertrain, greater riding distance, and longer battery life. In addition, the U+ and US are installed with the latest V35 ECU that enables functions such as electric fence and APP-based remote control, which enhances performance, sustainability and safety.
The new U models follow the design philosophy of the U family, which has won seven major international design awards, including the German Red Dot and IF, the United States iDEA, the Japanese G-Mark, the Chinese Red Star.
New Sports Bike Category “NIU AERO” with the spirit of “BEYOND SPEED”
The company today also launched its new lifestyle category NIU AERO, featuring high-performance sports bicycles with the spirit of “BEYOND SPEED.” NIU AERO includes professional mountain bikes and road bikes, offering a rich set of options for bicycle enthusiasts. Cycling is consistently gaining popularity because it represents a healthy and positive attitude, especially in metropolitan areas. NIU AERO bicycles incorporate the same design concepts that make the Company’s scooters wildly popular: lightweight yet strong, integration of aerodynamics and ergonomics, and smart connectivity. NIU AERO intends to make the cycling experience more delightful than ever.
NIU Expands its Global Presence
NIU believes that micro-mobility is the wave of the future, as giant population centers around the world grapple with the issue of transporting growing populations quickly, safely, and pleasantly in a sustainable, environmentally-friendly manner. NIU’s smart urban mobility solutions solve these issues by making urban life simpler, affordable and joyful, with faster transit, less congestion and zero emissions. NIU believes the market for its products spans the globe.
Based on this confident outlook, NIU today announced its entry in the Korean and U.S. markets. On March 28 at the Seoul Motor Show, NIU announced the initial models that are now available in Korea. Initial interest was high, and the Company anticipates strong demand as it builds out distribution in the country.
In the U.S., NIU recently received Federal government approval to sell e-scooters nationwide. NIU has already received its first order for 1000 units, which will ship in late April.
Live Streaming
This exciting new product launch will be live streamed on the NIU website and other video stream platforms today, April 12, at 6:30 a.m. Eastern Time (6:30 p.m. Beijing/Hong Kong time).
Participants may join the live streaming via below web addresses:
| NIU | https://www.niu.com/live/2019 |
| IFENG | https://zhibo.ifeng.com/video.html?liveid=126112 |
| YOUKU | https://vku.youku.com/live/ilproom?id=8016305 |
| TMALL | h5.m.taobao.com/taolive/video.html?userId=2603093715&id=222666999769 |
| JD | https://h5.m.jd.com/dev/3pbY8ZuCx4ML99uttZKLHC2QcAMn/live.html?id=352844 |
About NIU
As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance smart e-scooters. NIU has a streamlined product portfolio consisting of three series, N, M and U that address the needs of different segments of the modern urban resident, while being united through a common design language that emphasizes style, freedom and technology. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services. For more information, please visit www.niu.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as NIU’s strategic and operational plans, contain forward-looking statements. NIU may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIU’s strategies; NIU’s future business development, financial condition and results of operations; NIU’s ability to maintain and enhance its “NIU” brand; its ability to innovate and successfully launch new products and services; its ability to maintain and expand its offline distribution network; its ability to satisfy the mandated safety standards relating to e-scooters; its ability to secure supply of components and raw materials used in e-scooters; its ability to manufacture, launch and sell smart e-scooters meeting customer expectations; its ability to grow collaboration with operation partners; its ability to control costs associated with its operations; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIU’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contacts:
NIU
Investor Relations Manager
Jason Yang
E-mail: ir@niu.com
The Blueshirt Group
Gary Dvorchak, CFA
E-mail: gary@blueshirtgroup.com
Susie Wang
E-mail: susie@blueshirtgroup.com