Scooter firm Niu rides China's electric vehicle wave

Key Points
  • Chinese firm Niu used a combination of big data and Internet of Things to create a smart e-scooter
Smart electric scooters are booming in China

With more than 300,000 users in China, start-up Niu says it is the country's largest smart electric scooter brand.

"[We're] driving consumers from low-quality poor scooters to high-quality, lithium battery scooters," Niu CEO Yan Li told CNBC on Monday. Beijing wants at least 50 percent of all new car sales to be electric by 2020 — a target that bodes well for the firm.

Speaking on the sidelines of the Morgan Stanley Technology, Media & Telecom Conference, Li explained how his company utilizes the Internet of Things, warning that it's still too early for driverless electric scooters.

Check out the video above for highlights from the discussion.