Chinese E-Scooter Startup Filed For an IPO on Nasdaq
Electric scooter startup called Niu Technologies which is based in China has filed for an initial public offering (IPO) on Nasdaq. The company has planned to raise up to $150 million through this IPO.
Niu claims to be the largest lithium-ion battery-powered e-scooters company in China. Founded in 2014, the company is based in Beijing and currently holds a market share of 26% in China on the basis of its sales volume.
Niu’s scooters connect with an app that gives drivers maintenance and performance data and along with that delivers firmware updates. The firm stated that it had sold more than 431,500 smart electric scooters in China, Europe and other markets as of June 2018.
According to the reports, China has been termed as the largest market for electric two-wheeled vehicles, wher...