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ALI Technologies: Hoverbike start-up files for bankruptcy

Japanese firm ALI Technologies had dreamed of a "new form of movement".

Ben Gardner, partner at law firm Shoosmiths, told the BBC that regulatory barriers meant the hoverbike, despite its "ground breaking" technology, ended up being of "limited use". Last year, ALI Technologies agreed to be acquired by the US firm Pono Capital Corp - a move that led to its shares being listed on the Nasdaq stock exchange and that it hoped would raise money. A prototype flying car completed a 35-minute flight between Slovakian international airports in Nitra and Bratislava in 2021 and received certification in the country in 2022 although further details on its project are sparse.

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