Together with Gova, Nu creates an inexpensive electric scooter.
When the manufacturer's quarterly results are released, Gova will specialize in low-cost electric scooters. The Gova G1 is expected to be on sale in China for less than € 500 in the next few months.
Nothing seems to be stopping Niu! The Chinese group, already one of the world's leading electric scooters, is stepping up its offensive in the low-cost electric scooter segment by announcing the launch of a new sub-brand, Gova, which will bring together the brand's cheapest electric scooters.
« We are in the process of launching a new product line under the second brand name Gova. By leveraging our design capabilities and profitability, we position Gova as a high value product targeting the mid-market. We intend to sell this product line in the Chinese and international markets. " Yang Li, CEO of Niu, spoke in detail during the presentation of the manufacturer's quarterly results.
If nothing is known yet about the specs, design and specs of this new line, the Chinese group indicates that it will be available in several models and gives a first idea of prices. So Gova G1, Gova G3 and Gova G5 are part of the plans. Announced in the Chinese market for less than 4000 yuan, or about 514 euros, the Gova G1 could be unveiled as early as September, while the G3 and G5 are expected by the end of the year. For comparison, the cheapest electric scooter in the Niu range, Niu U, starts at 1799 euros.
Less equipped assortment
To meet its goals and create this new affordable range, the manufacturer had to make concessions over the models sold under the Niu brand. Firstly, electric scooters marketed under the Gova brand will not integrate all of the connected features offered on board Niu's electric scooters. However, performance, especially in terms of battery level, is expected to be lower than that of the Niu.
« In order for Gova to stay in this price point while maintaining a healthy margin, we had to deliberately split some features between Gova and Niu. For example, Niu is built like a smart electric scooter - it's connected. With Gova, we have to drop this part of the connection. However, we do offer accessories such as the Sky Eye option, which allows users to add a small case to the Gova to provide this connectivity. So this is an option that users can purchase as an accessory. »Indicates the head of the company.
As NIU continues to expand globally, the company's latest income statement details continued growth and strong profits. But most interesting might be the discovery that the company is working on a second brand of more affordable electric scooters and mopeds, called Gova.
Almost 100.000 sales in the second half of the year
Joining the NASDAQ last year, the Chinese electric scooter maker achieved record sales in the second quarter, during which time it sold nearly 100.000 electric scooters worldwide. This success is attributed to the brand's entry into new markets, especially in the United States, and the democratization of its car-sharing scooters, which are now available in more than a dozen countries.
In the second half of the year, the brand announced that its total sales were $ 74,8 million, up 38% from last year. A success that doesn't seem to end ...
