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The Japanese start-up ALI Technologies, which aimed to redefine urban transport with a futuristic hoverbike, has filed for bankruptcy, according to BBC News.
The hoverbike, inspired by Star Wars, resembled an aerial water scooter and could fly for about 40 minutes at speeds of up to 100 km/h (62 mph) on a single charge. I Photo: ALI Technologies Facebook
Its US parent company explained that the bankruptcy filing is part of a planned relocation to California, where it hopes to revive its ambitions with a new business partner.
Although ALI Technologies' hoverbike received significant publicity, featuring Prince Albert II of Monaco at one point, it struggled to achieve substantial sales.
The hoverbike, inspired by Star Wars, resembled an aerial water scooter and could fly for about 40 minutes at speeds of up to 100 km/h (62 mph) on a single charge. CEO Daisuke Katano had envisioned it as providing a "new method of movement."
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