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As two-wheeled electric vehicles enter the second half, how will Ninebot build a moat?

2024-08-27

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Two-wheeled electric vehicles, once known as "small electric donkeys", have now become a "big business". Public data shows that by the end of 2023, the number of electric bicycles in China will reach 400 million. However, as electric vehicles are rapidly becoming popular, the increasingly serious product homogeneity and frequent safety accidents have also become "stumbling blocks" for the development of the industry. As a newcomer in the field of two-wheeled electric vehicles, Ninebot has become a leader in the high-end market in just four years. Its outstanding performance in intelligence and safety are the two "secret weapons" for it to build a brand moat and seize the smart electric vehicle market.

Focusing on the "True Intelligence" positioning, bravely entering the uncharted territory of technological innovation

After several years of rapid development, the two-wheeled electric vehicle market has become increasingly crowded in the past two years, with leading players such as Yadea and Aima, as well as newcomers such as Niu. Although there are many electric vehicle brands, the phenomenon of overlapping positioning and product homogeneity is becoming increasingly serious, and price has become the focus of many companies.

Unlike traditional electric vehicle brands, Ninebot, the company to which Ninebot belongs (689009·SH), has a unique "technological gene". Since its inception, Ninebot has never fallen into the "rut" of price wars, but has focused on its core positioning of "real intelligence" and repeatedly polished its products' cost, performance and safety. It took three years for its first product to be developed from project establishment to market launch.

At the end of 2019, Ninebot released the Ninebot True Smart System along with Ninebot's first smart electric vehicle, and completed the upgrade in 2021, launching True Smart 2.0, including RideyGo! 2.0, RideyFun intelligent control system, MoleDrive self-developed controller, and Ninebot Cloud Electric System, bringing users a "senseless" smart riding experience. For example, the Ninebot AirLock inductive unlocking technology in RideyGo! 2.0 turns the mobile phone into a car key, which can be automatically unlocked as long as it approaches the vehicle, bringing a new riding experience of "no key required, unlocking when approaching, starting only when sitting firmly, and automatic locking when parking".

To further enhance the "real intelligence", Ninebot's products will also adopt "cross-level configurations". For example, the ABS anti-lock braking system, which is commonly used in high-end motorcycles and electric vehicles, has been used in new national standard electric bicycles priced at 4,000 yuan thanks to Ninebot's technological innovation, bringing a safer and smarter riding experience to ordinary consumers.

Solve the security problem from the source and win the key match point in the second half

In addition to intelligence, safety is also a key point in the second half of the battle for two-wheeled electric vehicles. For electric vehicles, the battery is like the "heart". Once there is a problem, not only will the electric vehicle not work properly, but it may also cause a fire risk. At present, many small workshops supply batteries that are modified from waste batteries and unqualified batteries, which pose a safety hazard once used.

Ninebot is well aware of the importance of battery safety. On the basis of purchasing first-line regular batteries, it has achieved IPX7 waterproof level based on its self-designed battery packaging solution, and each battery will undergo performance and stability tests under complex working conditions and extreme environments to ensure its safety and reliability. Ninebot's self-developed BMS intelligent battery management technology can also monitor the internal data of the battery 24 hours a day, and will alarm in advance if a fault or abnormal information is found. At the same time, it also provides more than 20 protection measures for the battery, such as overcharging and overcurrent. Electric vehicle users can fully understand the battery safety status through the app, effectively avoiding the fire risks caused by battery overheating and short circuit.

In addition, Ninebot has also built a set of standardized and high-standard production and testing processes, covering product R&D project establishment, production, and offline testing, to ensure the mechanical performance, frame rigidity and other aspects of the vehicle are safe and reliable from the source, and to nip safety risks in the bud. It is revealed that on average, each vehicle of Ninebot will go through 105 processes from parts procurement to vehicle delivery, and only those that are all qualified will be delivered to users.

At the same time, Ninebot also actively assumes social responsibilities and works with relevant departments such as fire rescue detachments in Nanjing, Wuhan and other places to carry out electric vehicle safety science lectures to convey relevant knowledge about electric vehicle safety to the public and help the general public develop good habits of safe vehicle use.

Since the launch of its first two-wheeled electric vehicle, Ninebot has transformed from an industry newcomer to a leader in the field in just four years. So far, it has ranked first in online sales of smart electric two-wheeled vehicles in China (Tmall and JD.com) for two consecutive years, with cumulative domestic shipments exceeding 4 million units. In the first half of this year, Ninebot's smart electric two-wheeled vehicles achieved sustained high growth, with sales in China reaching 1.1984 million units, a year-on-year increase of 123.18%, driving sales revenue in China to 3.335 billion yuan, a year-on-year increase of 119.12%.

The successful experience of Ninebot also brings enlightenment to newcomers - only by jumping out of the comfort zone of price wars, leading product iterations with technological innovation, and solving users' actual pain points can we build a brand moat and gain an advantage in the second half of the electric vehicle war. Let us wait and see what other amazing performances Ninebot will have in the future.

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