Japan's Flying Motorbike Start-up ALI Technologies All Set For IPO Soon: Report

While tech and auto companies listing on the stock exchange isn't exactly new, ALI Technologies, the maker of a flying motorbike, will become the first-of-its-kind company to do so in its home market Japan. The Tokyo-based company was founded by Shuhei Komatsu as a drone maker in 2016 and will soon open its Initial Public Offering (IPO) at the Tokyo Stock Exchange. The company is known for making the Xturismo Limited bike, a single-person transporter worth $777,000 and capable of hitting a top speed of 80 kmph and can travel up to 40 minutes per charge. Sales for the Xturismo flying motorbike will begin in October, says the company.

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ALI Technologies is currently in talks with the Tokyo Stock Exchange and has selected lead underwriters for an initial public offering on Tokyo's Mothers market for startups. The Xturismo Limited has been showcased at public events so far, while there seems to be strong interest from the Middle East market. The ALI bike isn't intended to fly too high in the air but rather conquer inhospitable terrain and even move over water bodies. It can be seen as an enlarged version of a drone, albeit designed like a motorcycle.

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ALI Technologies is currently backed by a number of well-known players including Sega Sammy Holdings Inc., Nagoya Railroad Co., Nakanihon Air Service Co., Kyocera Corp. and Mitsubishi Electric Corp. Local soccer star Keisuke Honda, who played for the national team at the 2018 World Cup, is also a backer. Apart from drones and flying motorbikes, ALI is also developing capabilities in artificial intelligence and blockchain tech.

The flying motorbike seems to be a vehicle from the future right out of science fiction. However, ALI is just catching up with the west where a number of its contemporaries are already listed on the New York exchanges. This includes Joby, Archer Aviation Inc., Lilium NV and Vertical Aerospace. Joby is said to have a market capitalisation of $3 billion and is said to be close to commercialising its electric vertical takeoff and landing aircraft (eVTOLs).

Also Read: U.S. Agency Will Review FAA Efforts On 'Flying Taxi' Rules

Experts say that the new next 18 months will be crucial for the upcoming sector as curiosity remains high. The next few months will see manufacturers test flights and finalise plans, while regulators work towards drawing the right safety norms required for the same. Meanwhile, ALI Technologies will with local regulators to find the best way to categorise its vehicle. The company isn't sure of an exact valuation yet but aims to have a unicorn valuation of $1 billion or more in the long term.