Ninebot (689009 CH) China
Report by Horizon Insights
This year, regulation of two-wheeled EVs has intensified, with strict oversight on battery usage, onboard chargers and major component modifications. As the transition period concludes, manufacturers are speeding up the clearance of old vehicle inventories and developing new models that comply with the revised standards. The updated national standard is expected to ease restrictions on speed and vehicle weight but will impose the highest production qualification requirements in history. Consequently, many lower-tier manufacturers will struggle to survive. Horizon Insights believes Ninebot, which has established a strong reputation for its high-end products, looks set to benefit, even at the expense of market leaders including Yadea and Aima.