The Subaru company behind the $777,000 flying motorbike prepares for IPO in Japan For the second time this year, the company has made a name for itself with a flying bike.
ALI Technologies, the maker of the XTURISMO hoverbike, is thinking about going public with an IPO. The company ALI Technologies Inc.
ALI Technologies, the company behind the XTURISMO bike, is considering going public. In October, the company began taking pre-orders for the XTURISMO.
To raise additional funds, the Japanese startup behind a $777,000 flying motorcycle plans to float on the stock exchange via an IPO. Daisuke Katano, CEO of Tokyo-based ALI Technologies, which designed the XTURISMO bike, told Bloomberg that the company planned to list on the Mothers market for startups.
Katano also stated that the company is in talks to list on the Tokyo Stock Exchange, but he did not provide a timetable or potential target valuation for an IPO. According to Insider Grace Dean, the 300-kilogram XTURISMO bike, which has a top speed of 80 kilometers per hour and a travel range of up to 40 minutes, went on sale for pre-orders in October last year.
The Robb Report reported in January that the company had begun accepting deposits for the bike, which can reach a height of two meters (6.6 feet) in three seconds. In March, the vehicle made headlines in Japan when it appeared at the opening ceremony of a baseball game in Hokkaido.
According to Katano, the vehicles are gaining popularity in the Middle East, where the desert terrain complements the hovering nature of the bikes. The bikes are designed to hover rather than fly at high speeds.
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“The vehicle will allow people to travel where roads are bad and cars are not allowed, as well as across bodies of water,” he explained.
The XTURISMO is the latest in a long line of startups racing to create flying cars. According to the tech platform Tracxn, there are 37 flying car companies in the United States.
According to Fortune Business Insights, the global flying car market will grow from $225 million in 2022 to $1.5 trillion in 2040. The single-person transporter can reach a top speed of 80km/h and travel for up to 40 minutes on a single charge.
“There will be a greater demand for these bikes in areas with desert or other difficult terrain.” “The vehicle will allow people to travel where roads are bad and cars are not allowed, as well as across bodies of water,” said ALI President Daisuke Katano in an interview.
“The vehicle will allow people to travel where roads are bad and cars are not allowed, as well as across bodies of water,” he explained.
The XTURISMO is the latest in a long line of startups racing to create flying cars.
According to the tech platform Tracxn, there are 37 flying car companies in the United States. Along with that, as per Fortune Business Insights, the global flying car market will grow from $225 million in 2022 to $1.5 trillion in 2040.
Despite discussions with the Tokyo Stock Exchange about the IPO, an estimated valuation and timeline for the offering have yet to be revealed.
With such an IPO, ALI will become Japan’s first publicly-traded company specializing in next-generation air mobility. According to Katano, ALI’s long-term goal is a unicorn valuation of $1 billion or more.
A number of these mobility companies are already listed on the New York Stock Exchange, including the $3 billion air taxi group Joby.
