Shares of Niu Technologies (NASDAQ: NIU), a leading provider of smart urban mobility solutions, soared 5% in after-hours trading on Thursday, following the company's release of its third-quarter 2024 sales volume update. The electric vehicle maker reported robust growth in both its domestic and international markets, fueling optimism among investors.

In the third quarter of 2024, Niu sold a total of 312,405 units, marking a significant 17.5% year-over-year increase from the same period last year. The company's sales in China remained strong, with 259,094 units sold, driven by the success of its new NT model, which captured nearly 20% of total sales in the quarter. Niu's efforts to broaden its user base and appeal to various demographics through collaborations and targeted marketing strategies also contributed to its domestic performance.

Niu's international expansion continued to gain momentum, with sales in overseas markets reaching 53,311 units, a remarkable 50.3% year-over-year increase. The company's recently launched K100 and K300 models, featuring upgraded smart functions and enhanced safety features, have been well-received in markets such as the EU, North America, and Asia Pacific, collectively accounting for over 50% of international sales during the quarter.

Looking ahead, Niu expressed confidence in the micro-mobility sector, stating that it will play a pivotal role in driving the company's future growth. With its diversified product portfolio and strategic focus on innovation and user experience, Niu appears well-positioned to capitalize on the increasing demand for electric mobility solutions worldwide.