A few days ago, Yadea announced its 2025 results. The largest E2W manufacturer in the world consolidated its lead over the rest of the world in a year when the Chinese market made a strong bounce back.
The Numbers
Yadea ended the year with scooter sales of 4.82 million units, a 22.6% jump over 2024 sales of 3.93 million units. However, the company is still well below its 2021 sales of 6.1 million units.
On the electric bicycle front, Yadea sales were 11.45 million units, a 26.2% bump over 2024 sales of 9.07 million units. The e-bicycle sales were very close to the peak of 11.6 million reached in 2023.
Note that Electric bicycles can come in different shapes and sizes and may not even look like one. For instance, in Yadea’s range, both of the following are electric bicycles.
This jump in unit sales resulted in a healthy improvement in revenues, with 2025 revenues at RMB 37 billion (USD 5.44 billion). This was a 31% improvement in revenue over 2024.
However, the biggest news was on the profit side. In 2025, Yadea reported a net profit of RMB 2911.6 million (USD 435 million), a 129% jump over the 2024 profit of RMB 1272.4 million.
For both revenue and net profits, 2025 was the best year ever for Yadea.
Heavy Dependence on China and ‘Chinese Type’ Products
More than 90% of Yadea’s revenues come from China. This also means a heavy reliance on China-type products. So most of the time, Yadea is selling something like this.
and hardly sells something like this.
And that’s not a great thing for the world
Which means the company’s volume efficiencies lie in making basic, low-cost products. As a result, all international markets where Yadea is expanding or is planning to, get low-spec products.
As an illustration, here is Yadea’s roll-off ceremony from its new plant in Mexico.
The Long-term impact on the world
The world is at a point where there can be mass adoption of E2Ws in the future. Since global two-wheeler sales are not nudging fast beyond the 65 million unit mark, this adoption would be driven by the replacement of ICE two-wheelers.
Since Yadea is the global two-wheeler E2W leader and the only all-electric two-wheeler manufacturer in the top ten two-wheeler brands (by volume) in the world, a lot of that replacement would be driven.
Now this is what the world is used to riding.
Arguably, it should be replaced by something that looks like this when we go electric.
…and not this.
But that’s not going to happen.