Daisuke Katano, President of ALI Technology, is taking a photo in front of the flying bike 'Xturismo'. Photo by Reuters Yonhap News
[Asia Economy Reporter Byunghee Park] Bloomberg reported on the 9th (local time) that ALI Technology, which manufactures flying motorcycles in Japan, is preparing for an IPO.
ALI Technology was established in 2015 as a drone manufacturer and has been expanding its business areas. The founder, Shuhei Komatsu, is a former financier who worked as a derivatives trader at Merrill Lynch. He is also an avid fan of the "Star Wars" series, famous for the podracer scenes.
ALI plans to start selling flying bikes under the brand "Xturismo" in October. The Xturismo, priced at $777,000 per unit, can reach a maximum speed of 80 km/h and can run for 40 minutes on a single charge. The company explained that there is significant interest from Middle Eastern countries.
The Xturismo is not primarily intended for long-distance travel. Its main purpose is to help people cross areas that are difficult to traverse.
ALI President Daisuke Katano said, "Demand for flying bikes will be high in deserts and mountainous terrains," adding, "Flying bikes will be useful in areas where road conditions are poor and vehicle access is impossible or where water crossings are necessary."
President Katano did not specify the IPO price or scale but explained that discussions are currently underway with the Tokyo Stock Exchange.
Many next-generation air mobility companies are already listed on the New York Stock Exchange. Joby Aviation, for example, has a market capitalization exceeding $3 billion. However, ALI is expected to be the first related company to go public in Japan.
President Katano said the company aims for a long-term corporate value exceeding $1 billion.
ALI has attracted investments from Sega, Kyocera, and Mitsubishi Electric. Keisuke Honda, who played for the prestigious Italian professional soccer club AC Milan from 2014 to 2017, also participated as an investor. ALI is also developing artificial intelligence (AI) and blockchain technologies.
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