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Japanese flying bike XTURISMO creator A.L.I. Technologies files for bankruptcy

A.L.I Technologies, the startup and creator of the $777,000 flying bike XTURISMO, has filed for bankruptcy.

The Tokyo-based company had hoped to redesign urban transport and mobility with Star Wars-inspired hoverbikes, filed for bankruptcy on January 3, 2024.

In 2022, the company launched its first hoverbike model, the XTURISMO, designed to fly a few meters above ground.

北海道日本ハムファイターズの本拠地開幕戦オープニングセレモニーに #BIGBOSS こと、新庄監督が「XTURISMO Limited Edition」イベント仕様モデルに乗って登場!

新庄監督ご自身にコンセプトに強く共感いただき、オープニングセレモニーでのコラボレーションが実現しました✨#XTURISMO #hoberbike pic.twitter.com/VpqnKoVplf

— AERWINS Technologies Inc. (@XTurismoLE) March 30, 2022

The XTURISMO flies for 40 minutes at speeds of up to 62 mph (100 km/h) using its petrol-electric Kawasaki hybrid engine.

Although the prototype provided much excitement when it launched, orders were not as rapid. On top of its price tag of $777,000, the XTURISMO required drivers to have a pilot’s license (except in Japan). 

A partner at law firm Shoosmiths familiar with administrative laws was quoted by the BBC to have cited regulatory barriers as a factor for the hoverbike to have limited use.

“Following an evaluation of the viability of other areas of the company’s business… we discontinued our non-core operations formerly carried out by our wholly owned indirect subsidiary, ALI,” the company said in its regulatory filing (Form 8-K).

The post Japanese flying bike XTURISMO creator A.L.I. Technologies files for bankruptcy appeared first on AeroTime.

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