Star Wars fan and founder of flying motorbike start-up prepares to take his company public in Japan

ALI Technologies, founded by former Merrill Lynch derivatives trader Shuhei Komatsu, plans to go public on Tokyo’s Mothers market for start-ups

Several next-generation air mobility peers are already trading on New York exchanges, including Joby Aviation, Archer Aviation, Lilium and Vertical Aerospace

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Tokyo-based ALI Technologies opened sales of its Xturismo Limited flying motorbike in October last year. Photo: Handout

Published: 12:00pm, 9 Apr 2022Updated: 2:54pm, 9 Apr 2022

A former Merrill Lynch derivatives trader with a passion for Star Wars is preparing to take his flying motorbike start-up public in Japan.

Tokyo-based ALI Technologies 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 US$777,000 single-person transporter can hit a maximum speed of 80 kilometres per hour (50 miles per hour) 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 said there is strong interest in it from Middle Eastern nations.

“The need for these bikes will be higher in places with desert or other difficult terrain,” Katano said in an interview. “The vehicle will enable people to travel where roads are bad and inaccessible to cars, as well as across bodies of water.”

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The company has selected lead underwriters for an initial public offering on Tokyo’s Mothers market for start-ups in what will be the country’s first debut of its kind. It is presently engaged in discussions with the Tokyo Stock Exchange, Katano said, declining to specify an estimated valuation or a timeline for the offering.

Flying personal vehicles have been the stuff of science fiction for decades before Star Wars, which featured a famous racing scene with pods zooming along close to ground level. The ALI bike is similarly not intended to fly far up in the air, primarily helping to traverse inhospitable terrain. It is built like an enlarged drone with a traditional motorcycle seat and steering on top.