Li Yan, CEO of calf Electric: negotiating with gojek to supply electric scooters


Tencent Technology News reported on February 9 that Li Yan, chief executive of calf electric, said on Monday that the company is negotiating with gojek, a Southeast Asian car Hailing company, to supply electric scooters for the latter, so as to increase the market share of calf electric in the region.
Calf electric produces electric scooters and motorcycles driven by lithium-ion batteries. At present, 95% of its sales are concentrated in the Chinese market. Mr Li said the company had provided gojek with some electric scooters for testing. “Of course we want to grab market share globally. But it depends on the expansion of the scale of electric vehicles, driving the cost of batteries down further. ” Gojek has not commented on the report so far.
Calf electric sold 600892 electric scooters worldwide last year, up 43% from the previous year. About 95% of them are sold in the Chinese market, with the majority concentrated in China’s 20 to 30 largest cities, Mr Li said.
Calf electric purchased batteries from Panasonic, Samsung SDI, LG Chemical and Eve energy. At present, calf Electric has 1600 stores selling electric scooters in China, more than 100 stores and more than 1000 dealers overseas. Li also said that calf electric plans to expand its sales network in small cities in China and will open stores faster than last year. Last year, calf electric opened 600 stores.
Calf electric currently produces electric scooters in Changzhou. Mr Li said the company was doubling its capacity. From around April this year, the annual manufacturing capacity of calf Electric will exceed 2 million scooters, higher than the current 1 million.
Li Yan also said that calf Electric has no plans to make electric cars at present. “We focus on travel within the city.”
Shares of calf electric fell 0.80% to close at $45.48 in regular trading on the Nasdaq stock market on Monday. In the past 52 weeks, the lowest price of calf electric was $6.08 and the highest was $53.00. According to Monday’s closing price, the market value of calf Electric is about $3.399 billion. (compiled by Tencent technology / Wuji)