The high cost of batteries not only affects new energy vehicle companies, but also increases the price of two-wheeled electric vehicles.

On March 21st, Niu Electric (NIU) issued an announcement saying, “Because of the sharp rise in raw materials (prices) such as upstream lithium batteries, Niu Electric will be in April 2022. On the 1st of the month, the retail guide price of all lithium battery products will be raised once, with an increase of 200-1000 yuan.” The financial report shows that in 2021, the operating income of Maverick Electric will be 3.705 billion yuan, a year-on-year increase of 51.56%; the net profit attributable to ordinary shareholders is 226 million yuan, a year-on-year increase of 33.9 million yuan. %. The gross profit margin of Mavericks in 2021 is 21.9%, a decrease from 22.9% in 2020. Mavericks said that it is mainly due to the increase in raw material costs and the introduction of various new products resulting in changes in product structure.

According to the official website, Maverick Electric was established in 2014 and is a two-wheeled electric vehicle company. It has launched Maverick Electric NQi, MQi, UQi, RQi, TQi, GOVA, YQi series of electric bicycles, electric motorcycles and peripheral cultural products NIU POWER, as well as professional outdoor sports bicycle NIU AERO, electric moped BQi, electric scooter KQi, etc.

As of the fourth quarter of 2021, Niu Electric has sold a total of 2.7 million smart two-wheeled electric vehicles, and has 3,108 brand experience stores and specialty stores in China.

According to the “Economic Daily” report on March 21, since March, more than 40 electric vehicles from nearly 20 new energy vehicle companies have announced price increases. Many car companies said in their price increase announcements that the main reason for the price adjustment was the sharp rise in raw material prices. Cui Dongshu, secretary general of the National Passenger Vehicle Market Information Association, told reporters that since the beginning of this year, the price of power batteries has risen much faster than the industry expected due to the increase in raw material prices. Previously, many car companies and battery suppliers had negotiated prices that were low, and car companies The pressure is not outstanding, but car companies that sign new orders after the price increase of power batteries are under great pressure, and they can only alleviate the cost pressure by increasing the price.