electric scooters and motorcycles that Niu sold since 2016


Million Tons

of CO2 emissions avoided since founding



in sales revenue between 2016 - 2020

View Our Analysis

The Path to Drawdown: Electric Vehicles

The first electric vehicle (EV) prototype was made in 1828, but not being able to surmount the challenge of building a lightweight, durable battery with adequate range meant that internal combustion engines have dominated the automotive and transport landscape since the 1920s.

Today that picture is changing. Thanks to supportive policies and falling costs, there are millions EVs on the road. The difference in their impact on the climate is remarkable. Compared to petroleum-based vehicles, CO2 emissions drop by 50% if an EV’s power comes from the conventional grid. If powered by solar energy, emissions are cut by 95%.

What once used to be a roadbump for EVs - the issue of how far the car can travel on a single charge - is now much less of a concern. The average range of a battery electric vehicle produced in 2020 is about 217.5 miles, up from 124 miles in 2015.

What’s making this increase in mileage possible is the continuing development in battery capacity. Global EV battery capacity is expected to increase from around 170 GWh per year today to 1.5 TWh per year in 2030. At the same time, the cost of batteries is falling as their production reaches greater scale.

The electric-powered scooter is a small segment of the overall EV market. But it enjoys strong demand in countries and regions where bicycles and scooters are widely used.

To be on track to remain under 1.5ºC of warming, 100% of passenger scooters (p. 138) need to be running on electricity by 2050. This is a jump from 40% of scooters in 2020. E-scooter production needs to continue to expand fast over the next three decades:

  • <::marker> 300 million (p. 134) e-scooters were on the road in 2020
  • <::marker> 1.2 billion e-scooters need to be on the road by 2050

This would require a CAGR of 4.73% from 2020-2050

What We Want to See Improve

Publish ESG Reports

Niu’s growth in the electric two-wheel vehicle market in Asia and beyond is exciting. But as investors, we know very little about how Niu’s operations directly contribute to climate change or sustainability because it doesn’t publish ESG reports. We want to see Niu issue these reports on an annual basis, with a particular emphasis on key sustainability metrics like scope 1, 2 and 3 GHG emissions, avoided emissions, waste management and water use.

Clean Up Supply Chain

We know that Niu is highly dependent (p. 8) on external suppliers for its batteries, motors, tires, battery chargers and controllers. But beyond this, Niu doesn’t report information about its supply chain. We are concerned about the overall carbon footprint of Niu’s supply chain management, and want Niu to select suppliers or persuade existing suppliers to cut their GHG emissions.

Set Clear Targets

Finally, once these sustainability metrics are collected and published, Nio should set clear targets for reducing emissions and helping mitigate climate change by a concrete timeline. This would allow climate-conscious investors to hold Niu accountable.

Related Electric Bike Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description


Niu Technologies Inc. (NIU)

Niu Technologies makes bicycles, motorcycles and scooters that are all powered by electricity. A key solution for decarbonizing dense, urban areas


EZGO Technologies Ltd. (EZGO)

EZGO designs and makes e-bikes and e-trikes in China. They also sell batteries and charging stations for e-bikes. They're helping electrify transportation

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