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Maker of $777,000 Flying Motorbike Prepares for IPO in Japan

  • Firm started taking orders for its pricey hoverbike in October
  • ALI Technologies eyes IPO on Mothers market for startups
Bloomberg business news
WATCH: Japanese company @ALI_Tech_Inc has taken drone technology and adapted it to create a $777,000 flying motorbike. Source: Bloomberg
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A former Merrill Lynch derivatives trader with a passion for Star Wars is preparing to take his flying motorbike startup public in Japan.

Tokyo-based ALI Technologies Inc. was founded by Shuhei Komatsu as a drone maker in 2016 before moving on to more ambitious ventures, opening sales of its Xturismo Limited bike in October. The $777,000 single-person transporter can hit a max speed of 80kmh (50mph) and travel up to 40 minutes per charge, according to the company. The bike has so far largely figured as a curio at public events such as a recent baseball game, but ALI President Daisuke Katano says there’s strong interest in it from Middle Eastern nations.