Niu Technologies

As LiDAR costs drop significantly to around $200, the sensor is beginning to penetrate from passenger cars into the two-wheeler market.

With battery costs rising sharply but vehicle prices rising at a limited rate, Niu needs to find ways to reduce costs, its CEO said.

Niu Technologies, which prices most of its products below RMB 5,000, blames the move on a sharp increase in upstream raw material prices.

Niutron's first model will be a mid-size SUV, which is scheduled for small batch trial production in March next year and will be officially launched in September next year.

Niutron, the new energy vehicle brand founded by Niu Technologies founder Li Yinan, is expected to be officially launched on December 15.

Li Yinan is building a car, but just hasn't declared it because he's keeping a low profile, the report said.

Chinese scooter maker Niu Technologies is said to be acquiring a BAIC BluePark New Energy plant in Changzhou, sparking discussions that it will also join the car manufacturing boom.

Li Yinan, founder and former CEO of Niu Technologies, a China-based, US-listed maker of electric scooters, has now quietly entered the new energy vehicle industry after  being out of the public eye in China for a long time.