Domestic e-cycles maker Yadea unveils 'smart' scooter

Electric scooter Yadea Z3, manufactured by Yadea Technology Group Ltd, is on display during the product's launch ceremony held on March 24, 2016 in Shanghai. [Photo provided to chinadaily.com.cn]

At the end of 2015, the company acquired a 11.1 percent stake of the US-based Lightning Motorcycle Corp, according to the National Business Daily.

According to consulting company Frost & Sullivan, by calculating the net profit in 2015, Yadea has 24 percent of the entire market in the two-wheels e-cycles sector. One of 12 units shipped around the world is manufactured by the company.

The world's sales of two-wheels e-cycles have seen rapid growth since 2010. As of 2015, the user base reached 235 million units in total. Out of that, 84.9 percent of the volume is contributed by China.

It is expected that by 2020, with a revenue of 124.6 billion yuan, the sales volume of two-wheels e-cycles will reach 44 million units, reckons Frost & Sullivan.