Niu.com, an internet startup specializing in electric scooters, launched its third product model N1S in Beijing in August, with its eyes set on both domestic and international markets.

"We plan to sell at least 150,000 scooters worldwide by 2018," said Li Yan, chief operating officer of Niu.com.

According to Li, the model will first reach Germany and then other countries in Europe, before the United States, and finally, the rest of the regions.

Equipped with a top torque of 120 Nm and a 2400W power output, the model can reach a top speed of 45 km/h. Its 29 Ah compact capacity battery enable it to run 80 kilometers on a single charge. The company said the model can reach a maximum range of 140 kilometers with additional extended range battery.

Niu.com plans to establish 500 new stores in China by the end of this year.

Founded in 2014, Niu.com' first product N1 scooter reached the market on June 2015. The second product M1 hit the market on April. The company said it has sold 100,000 units of scooters in China so far.