What Ninebot does

Ninebot Limited (九号有限公司 / Segway-Ninebot, Shanghai STAR Market ticker 689009.SH) is a Beijing-headquartered, publicly listed designer and manufacturer of smart short-distance personal mobility and home robotics products. The company was formed through the 2015 merger of Segway Inc. (founded 1999, Bedford, New Hampshire) and Ninebot (founded 2012, Beijing) and now operates with 4,000+ employees across regional HQs in Beijing, Changzhou, Dallas, Southern California, Amsterdam, Paris, Barcelona, Cologne and Singapore, serving customers in 160+ countries. It was the first Chinese A-share company structured as a VIE+CDR issuance when it listed on October 29, 2020.

The product portfolio spans the Ninebot brand (electric mopeds such as the M5 series, Q5 and Q3; national-standard electric bicycles like the MMAX2 110P and Dz 110P Mk2; electric kick scooters including MAX G3, F3 and E3; self-balancing vehicles such as the Mini and L-series; and the Segway Gokart Pro2) plus Segway sub-brand lines (Xyber e-bike, ZT3 Pro off-road kick scooter, Powersports ATVs, Energy Storage, Service Robots and Commercial Mobility / B2B shared mobility). Segway Navimow is the dedicated wire-free robotic lawn mower line (X4 series including X420 and i206 AWD), which Euromonitor recognised as the world's No. 1 wire-free robotic mower brand by retail volume in both 2024 and 2025. Across the portfolio, vehicles share a software layer of RideyGo! 2.0, RideyLONG, RideyFUN, RideyDrive and the NimbleOS (凌波OS) operating system launched August 2025, paired with the ninebot SIGHT AI visual assistance system, the Segway-Ninebot companion app and Apple Find My integration. Cumulative global shipments exceed 13 million units, cumulative China e-bike shipments surpassed 9 million by September 2025, and cumulative global driving distance crossed 70 billion kilometres by January 2026.

Revenue is generated primarily through unit hardware sales distributed via direct-to-consumer e-commerce (ninebot.com, JD.com, Tmall), regional Segway.com storefronts across 40+ countries, dedicated B2B and shared-mobility channels (including the Tier-Dott partnership that deployed 15,000 e-bikes for the Paris 2024 Olympics), and an emerging software/developer line via the April 2026 Theme Developer Platform. Euromonitor ranks Ninebot as the world's No. 1 electric scooter brand by 2023 sales value and Ipsos ranked it No. 1 globally among two-wheeler EV brands on the 2024 China Brand Global Trust Index. First three quarters of 2025 revenue reached approximately 18.4 billion CNY, with Q3 2025 revenue of 6.65 billion CNY growing 56.82% year-over-year.

Name

Ninebot

Legal name

纳恩博（北京）科技有限公司

Website

https://ninebot.com

Company type

Public

Founded year

2012

Operating status

Ipo

Headcount range

251–500 employees

Short description

Ninebot Limited (Segway-Ninebot, 689009.SH) designs and manufactures smart electric two-wheelers, kick scooters, self-balancing vehicles, service robots and Segway Navimow robotic lawn mowers, selling hardware plus the NimbleOS software stack to consumer and B2B/shared-mobility customers across 160+ countries.

Ownership category

akta.pro rank

Product category

Smart Personal Electric Mobility

NAICS

Furniture, Home Furnishings, Electronics, and Appliance Retailers (449), Outdoor Power Equipment Retailers (44423)

SIC

Motorcycles, Bicycles & Parts (3751), Electronic Components & Accessories (3670), Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944)

akta.pro primary industry

E-Mopeds & Light Electric Motorbikes (Consumer) (CRACASAG)

akta.pro secondary industries

Self-Balancing Scooters & Hoverboards (CRACASAD), E-Mobility Connectivity, Apps & Anti-Theft Tracking (consumer devices/services) (CRACASAM), E-Mobility Controllers, Motors & Drivetrains (Consumer aftermarket/OEM) (CRACASAK), Personal Electric Transporters (Segways & similar) (CRACASAF)

Keywords

• Electric scooters
• Electric mopeds
• Self-balancing vehicles
• Robotic lawn mowers
• Personal mobility

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Hardware Sales — Electric Two-Wheelers: Primary revenue stream from sales of electric scooters, electric motorcycles, electric mopeds, and electric bicycles (E-bikes) under the Ninebot and Segway brands. Domestic China market reached 9 million cumulative e-bike units shipped by September 2025; 3.78 billion RMB e-kickscooter revenue in 2023.
2. Hardware Sales — Self-Balancing Vehicles and Go-Karts: Revenue from self-balancing personal movers (mini, L-series, Eggy Party co-brand) and Segway Go-Kart Pro 2 recreational vehicles sold through the official site and retail channels.
3. Hardware Sales — Segway Navimow Robotic Lawn Mowers: Revenue from wire-free robotic lawn mowers (X-series including X4, X420, i206 AWD) under the Segway Navimow sub-brand; brand reached 400,000+ customers across 40+ countries by April 2026 and was recognized as the world's No. 1 wire-free robotic mower brand by retail volume for two consecutive years (2024 and 2025).
4. B2B Shared-Mobility and Fleet Solutions: Revenue from shared-mobility fleet sales (e.g., 15,000 shared e-bikes delivered to Tier-Dott for the Paris 2024 Olympics) and enterprise/government vehicle procurement through key-account channels.
5. Accessories, Replacement Parts, and After-Sales Services: Recurring-style revenue from accessories, replacement parts (batteries, tires, helmets), and one-stop after-sales service offerings supported by the nationwide offline store/service network.
6. Software / App and Developer Ecosystem (Theme Developer Platform): Emerging revenue line from the Ninebot App ecosystem and the April-2026-launched Theme Developer Platform, where designers can monetize custom dashboard themes, sound effects, and app themes via traffic exposure and revenue share.

Pricing tiers

Go-to-market motion5 records

Core offering

Ninebot Limited (Segway-Ninebot) designs, manufactures and sells smart personal electric mobility products under the Ninebot and Segway brands, spanning electric scooters/mopeds (eScooter), electric kick scooters (eKickScooter), self-balancing vehicles, robotic lawn mowers (Segway Navimow), go-karts, all-terrain vehicles, service robots and portable energy storage. The portfolio is unified by a proprietary short-distance mobility technology stack (NimbleOS operating system, RideyGo!, RideyLONG, RideyFUN, RideyDrive and ninebot SIGHT AI), connected through the Ninebot mobile companion app and sold to both individual consumers and enterprise/shared-mobility customers across 100+ countries.

Product overview

Ninebot Limited (Ninebot Company, stock code 689009.SH; English trade name Segway-Ninebot) operates a multi-brand, multi-category personal mobility and robotics portfolio rather than a single product. The portfolio is structured as brand-and-module architecture: the Ninebot (九号) brand carries the core electric scooter (eScooter / 电动车), electric kick scooter (eKickScooter / 滑板车) and self-balancing scooter (平衡车) lines, including hero products such as the M5 200, Q5, Q3, E300P MK2, Dz 110P Mk2, Kz 110, MMAX2 110P, MAX G3, F3, E3, the Mini self-balancing scooter, the L-series self-balancing scooters and the Egg Party collaboration edition. The Segway sub-brand layers additional performance and lifestyle products on top, including the Segway Xyber e-bike, ZT3 Pro off-road kick scooter, Gokart Pro2, energy storage (储能电源), Powersports all-terrain vehicles, service robots (via Segway Robotics) and the Segway commercial mobility / B2B business. Segway Navimow is the dedicated wire-free robotic lawn mower line (X4 series including X420 and i206 AWD), recognized as the world's #1 by Euromonitor for 2024 and 2025. Across the portfolio, the vehicles share a software layer of RideyGo!, RideyLONG, RideyFUN, RideyDrive, NimbleOS (凌波OS) and the ninebot SIGHT AI visual assistance system, controlled through the Ninebot出行 mobile companion app (iOS / Android / HarmonyOS). The Theme Developer Platform launched April 2026 extends the platform with no-code creator tooling for dashboard themes, sound effects and App themes.

Differentiator

Problem solved

Functional benefit

Brands

• Navimow: Brand under Ninebot Limited focused on wireless robotic lawn mowers; recognized as the world's No.1 brand in wire-free robotic lawn mower retail volume sales for two consecutive years (2024 and 2025) by Euromonitor International.
• Segway Powersports
• Segway Dakar Race Bike (X1000)
• NAVEE

Products and services

• Ninebot eScooter Product Line (Electric Scooters/Mopeds/Motorcycles) Smart electric two-wheeler family covering city commuters, national-standard e-bikes (国标电自) and high-performance electric motorcycles. Targets urban commuters, individual riders and shared-mobility fleets; integrates RideyGo!, RideyLONG, RideyFUN, NimbleOS, Apple Find My, smart BMS 6.0 and three-layer GPS+Beidou+base-station positioning.
• Ninebot M5 Series Smart Electric Mopeds (M5 100 / M5 125 / M5 200 / M5 P) Flagship 16 kW-class smart electric moped lineup with 72V single-cell lithium battery, claimed up to 195 km range, 12-inch hub motor, AXC-series frame, RideyFUN cockpit, dual dashcams, gesture control, ALC full-scene lighting, triple positioning and NimbleOS.
• Ninebot Q5 Series Premium Electric Mopeds (Q5 80c / 85c / 95c) Premium flagship e-moped line featuring high-transparency windshield, RideyLONG range system, RideyFUN cockpit, dual-channel ABS, SOS emergency call, Player/Escort dual riding modes and ALC full-scene lighting.
• Ninebot Q3 Series Electric Mopeds (Q3 80c / 85c) Stylish e-moped targeting individual riders, with CBS linked braking, ALC full-scene lighting, Sense Unlock 3.0, customizable styling and personal storage layout.
• Ninebot E300P MK2 Electric Motorcycle Flagship 10,000 W-rated electric motorcycle with 74V 28Ah×3 battery (125 km range, 135 km/h top speed with three batteries), Segway 12-inch high-power brushless motor, J.JUAN four-piston brakes, dual-channel ABS, Maxxis semi-hot-melt tires and the full RideyGo!/RideyFUN/NimbleOS smart stack.
• Ninebot Dz 110P Mk2 Electric Moped Flagship national-standard electric bicycle with 7-inch TFT display, dual dashcams, sentry mode, gesture recognition, OTD single-throttle mode, HHC hill-hold, TCS traction control, alloy-steel cradle frame and tire-pressure monitoring.
• Ninebot Kz 110 Electric Moped All-aluminum body urban e-moped with 90 km range, 400 W rated power, front/rear disc brakes plus EABS regenerative braking, and a Lego-style modular design for personalization.
• Ninebot MMAX2 110P Electric Bicycle Upgraded national-standard electric bicycle positioned as the new benchmark for 国标电自 (compliant eBikes), featuring improved configurations for mixed road conditions.
• Ninebot eKickScooter Product Line (Electric Kick Scooters) Full electric kick scooter portfolio across MAX, F, E, C and ZT series, featuring RideyLONG range system, SegRide riding stabilization, intelligent TCS anti-skid control, Apple Find My, BMS 2.0 battery protection and self-repairing jelly tires. Ninebot is the world's No. 1 electric scooter brand by sales (Euromonitor, 2023).
• Ninebot MAX G3 Electric Kick Scooter Flagship Ninebot kick scooter with 2,000 W peak power, 30% hill-climb ability, dual hydraulic suspension, 11-inch self-repairing jelly tire, 2.4-inch smart display, 25 km full-speed real range and integrated RideyLONG/TCS/SegRide systems.
• Ninebot F3 Electric Kick Scooter City-commute kick scooter with 2.4-inch TFT smart cockpit, intelligent lighting system, 10-inch self-repairing tire, 6-layer battery protection, IPX6 water resistance, and Apple Find My.
• Ninebot E3 Electric Kick Scooter Lightweight commuter scooter with magnesium-aluminum frame, 3-inch HD display, 10-inch vacuum tires, Apple Find My, RideyLONG range system and SegRide stabilization. 22 km typical range.
• Segway ZT3 Pro Off-road Electric Kick Scooter Segway brand off-road kick scooter with 11-inch all-terrain tires, SegRide riding stabilization, RideyLONG range system, intelligent TCS anti-skid and Apple Find My. Marketed as Segway's first off-road kick scooter.
• Ninebot Self-Balancing Scooter Product Line (Mini, L6, L8) Self-balancing scooter family (Mini, L6, L8, Egg Party collaboration) featuring the proprietary Ninebot dynamic self-balancing algorithm, Leansteer steering technology, 29-item national-standard safety tests, 15 safety protections, color lighting effects and a Bluetooth speaker. The Mini carries a personalized "千人千面" AI learning algorithm.
• Ninebot Mini Self-Balancing Scooter Iconic self-balancing vehicle with 22 km typical range, 16 km/h top speed, dual 350 W motors, 10.5-inch anti-skid vacuum tires and IP54 rating.
• Segway Navimow Robotic Lawn Mowers (X4 Series, X420, i206 AWD) Wire-free robotic lawn mower family (X4 series, X420, i206 AWD) using EFLS LiDAR + AI triple-fusion positioning, GeoSketch 3D mapping, EdgeSense, Xero-Turn and MowMentum technologies. Recognized by Euromonitor as the world's No. 1 wire-free robotic mower brand by retail volume for 2024 and 2025.
• Segway Xyber E-Bike Adventure-cruiser cross-ride electric bicycle under the Segway brand; offers dual-mode electric/pedal-assist with automatic switching and a distinctive cyber-styled frame.
• Segway Gokart Pro2 Drift-and-race go-kart with immersive gaming vibration feedback, air-cooled motor (43 km/h top speed, 1.02 G acceleration), manual-shift mode and dynamic power-vector drift system. Pairs with the Ninebot Mini / Mini Pro2 as a modular rear axle.
• Segway Powersports (All-Terrain Vehicles) All-terrain vehicles (ATVs) and powersports vehicles sold through the dedicated Segway Powersports China site as part of the Segway-Ninebot portfolio.
• Segway Service Robots (Commercial Mobility / Robotics) Indoor/outdoor commercial service robots operated by Segway Robotics, positioned as part of the broader Segway-Ninebot commercial mobility portfolio.
• Segway Energy Storage (Portable Power Stations) Portable power station / energy storage product line marketed under the Segway brand for residential and outdoor use.
• Segway Commercial Mobility (B2B Shared-Mobility Solutions) B2B shared-mobility and commercial e-bike / e-scooter solutions operated under segway.com; notably deployed at the Paris 2024 Olympics (15,000 shared e-bikes with Tier-Dott).
• Segway Dakar Race Bike X1000 (Electric Off-Road Race Motorcycle) Purpose-built electric off-road race motorcycle used as the core test platform for the Segway factory team's 2026 Dakar Rally entry in the Mission 1000 category.
• Ninebot Mobile Companion App (九号出行) Cross-platform companion app (iOS 13+, Android 8.0+, HarmonyOS) for remote vehicle control, locating, firmware updates, community and support. Connects to vehicles via Bluetooth 4.1+. A separate "Lite" edition exists for legacy / fingerprint-lock and off-road e-moped devices.
• Ninebot Theme Developer Platform (主题开发者平台) Creator ecosystem with no-code, visual one-stop tools for designers to author dashboard themes, sound effects and App themes for Ninebot vehicles. Offers creator guidance, traffic exposure and revenue sharing.

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability11 records

Feature14 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Ola Electric: India's largest electric two-wheeler maker (S1 series). Comparable product/business model but regional: primarily serves the Indian market with vertically integrated manufacturing, offering a useful read-across for Ninebot's emerging-market expansion playbook.

Direct peers

• Aima Technology: Top-tier Chinese e-bicycle and e-moped OEM with deep dealer network in China and a growing international footprint. Competes head-to-head with Ninebot on national-standard compliant electric bicycles (国标电自).
• Niu Technologies: Listed Chinese smart e-moped and e-scooter maker with overlapping product range (N1S, MQi series) targeting similar urban commuters in China and Europe. Directly competes with Ninebot's Q/M/MMAX e-moped lines on smart features, app connectivity, and design-led positioning.
• Yadea Group: Largest Chinese electric two-wheeler manufacturer by volume, selling electric mopeds, e-bikes, and e-motorcycles across China and globally. Directly competes with Ninebot's eScooter portfolio on price, dealer scale, and battery technology.
• Husqvarna Group (Automower): European incumbent in robotic lawn mowers whose Automower line directly competes with Segway Navimow X4 series in the wire-free / GPS-guided category. Comparable on premium positioning, dealer networks, and outdoor robotics R&D.
• Worx / Positec (Landroid): Owner of Worx Landroid robotic lawn mowers, a key global rival to Segway Navimow in the consumer robotic mower category. Comparable on price-tier, DIY installation model, and broad retail distribution in EU/US.
• Xiaomi (Himo / M365 / Electric Scooter line): Mass-market consumer electronics giant with the iconic Mi Electric Scooter (M365, Pro, 4 series) and Himo e-bike sub-brand, directly competing with Ninebot's MAX, F, and E kick-scooter families globally through online and offline channels.

Emerging players

• Ecovacs Robotics: Chinese home robotics leader (Deebot vacuums, Winbot, Goateck lawn mowers). Directly comparable as a Ninebot adjacency: Chinese-listed home/outdoor robotics OEM pursuing the same smart-device-plus-app monetization model.

Others

• Segway Inc. (legacy, now wholly owned): Original Segway self-balancing pioneer, now a wholly-owned brand inside Ninebot since the 2015 merger. Listed as context for the strategic anchor of Ninebot's self-balancing vehicle and commercial mobility lines rather than a competitive peer.

Broad incumbents

• Giant Manufacturing: World's largest bicycle manufacturer with growing e-bike line (Giant, Liv, Momentum brands). Competes with Ninebot's eBike and Segway Xyber e-bike lines on global dealer distribution and bicycle heritage, though lighter on software/smart features.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ninebot
• Facebookfacebook.com/222158597974224
• LinkedInlinkedin.com/company/ninebot-inc-
• Instagraminstagram.com/ninebot
• Xx.com/Ninebot_Inc

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ninebot