(Yicai Global) Dec. 16 -- The founder of Chinese e-scooter maker Niu Technologies has unveiled Niutron, the first new energy vehicle brand of his Niutron Technologies Group, with deliveries expected to start next September.

Niutron’s first car will be the Niutron NV, a mid- to large-size sports utility vehicle, available in electric-only and range-extended versions, serial entrepreneur Li Yinan said at a press conference yesterday. The Hong Kong-based firm will begin taking orders from the first half of next year, he added.

Niutron Technologies, which has about 1,000 employees in offices in Beijing, Shanghai, and Changzhou, focuses on electric vehicle intelligence, styling, and manufacturing. Its production base is in Changzhou, where Niu’s scooters are also made, and it will begin operations next March. Capacity is expected to be around 180,000 vehicles a year.

The team started the car-making business in November 2018, he said. The company secured USD500 million in a Series A financing round led by IDG Capital, Li added, noting that it may raise as much as USD3 billion in total.

Niutron Technologies is the third company founded by the 51-year-old Li, who used to work at Chinese telecom equipment giant Huawei Technologies. He set up internet protocol-based networking equipment and service management software provider Harbour Networks in 2000, New York-listed Niu in 2015, and Niutron Technologies in 2020.

Niutron Technologies and Niu are independent companies, Li said yesterday.

Editor: Futura Costaglione