Niu has said that it will introduce new products in 2021, and it is likely that the introductions include the RQi electric motorcycle which was originally announced to come late this year.
Speaking at the Q3 2020 Earnings Call last month, Hardy Peng Zhang, CFO & Compliance Officer of Niu Technologies says mass production of some planned models were postponed due to the impact of COVID-19. Zhang said high volume growth could not be achieved due to the virus and lockdown but that new products can be expected in the second quarter of next year. While he didn’t specify names, we reckon he is referring to the TQI-GT three-wheeler and the RQI motorcycle that were unveiled in January. Zhang is confident that some of the new launches would drive the company’s volume growth in China next year.
‘Niu Crew’ on Instagram had posted a walkaround of the Niu RQi electric motorcycle in June. The first Niu electric motorcycle was captured in a video at the company’s HQ showroom and is slightly different from the bike that was showcased at the CES 2020 featuring a black tank cover. We expect the e-motorcycle to be launched first in China and enter the global scene towards the end of 2021. One of the global markets Niu targets for a launch with a differentiated strategy is India.
Niu first revealed the RQi electric motorcycle at the Consumer Electronics Show in Las Vegas in January and it primarily targets European and the American market as well as the high-end motorcycle market of China.
During an investors call in March 2020, Mr Yan Li, Chairman, Chief Operating Officer of Niu Technologies had confirmed that the RQi will be launched in the market in late 2020. The RQi is Niu’s first straddle electric motorcycle and will be marketed as a performance product. The motorcycle is powered by a 6.5 kWh dual batteries (removable) that drive a mid-mounted motor, which can produce a maximum power of 30 kW. The RQi can achieve a top speed of 160 km/h and can return up to 130 km of range in a single charge.
Niu has equipped the RQi with several advanced technology features that include 5G IoT with ride data capabilities, IoT connected battery pack, fully digital dashboard, anti-theft GPS tracking and Bluetooth connectivity. Niu will be targeting the high-end motorcycle segment and says it has already received a tremendous reception following the showcase.
Niu, one of the largest electric two-wheeler brands in the world, has expanded its international network to over 1,266 dealers in around 38 countries and 114 flagship and premium stores.