Flying motorbike company ALI Technologies will be publicly listed on the Nasdaq stock exchange—paving the way for the emergence of that new technology.
- Japanese flying-motorbike-maker ALI Technologies Inc. will be listed on the Nasdaq stock exchange and could begin trading as early as Friday.
- The company is a startup that makes flying motorbikes that can travel at a speed of up to 50 mph and travel up to 40 minutes per charge.
- The bikes are one-person vehicles with a price tag of $555,000, down from the previous price of $777,000.
Why it’s news
A Japanese startup that creates flying motorbikes could begin trading on the Nasdaq stock exchange as early as Friday. The Nasdaq exchange is home to technology-focused companies.
ALI Technologies Inc. started as a drone maker in 2016 before beginning to develop flying motorbikes that began selling in October 2022.
The motorbikes are similar to hovercrafts. It is a one-person vehicle that lifts from the ground and can reach a speed of 50 mph, and travel up to 40 minutes per charge. The vehicles are currently listed for $555,000.
The company is going public through a merger with the firm Pono Capital Corp. The deal allows ALI Technologies to become a fully owned unit of its Pono Capital Corps’s U.S. arm, Aerwins Technologies, according to Bloomberg writers Min Jeong Lee and Takahiko Hyuga.
The company’s market cap is expected to be around $600 million.