Dec 22, 2015 01:41 AM EST
Tianjin-based Tech Company plans to solve car park problems in big cities through its Ninebot One hover board device.
According to China Daily, Ninebot Inc hopes to bring its $312 hoverboard into the personal transport market of China in a major way. Ninebot and Xiaomi collaborated and held a major industry expo Late November.
The three-day event had 50,000 people in an area that could fit three soccer fields. There were plenty of awesome technologies and innovation in the event, but it was the two-wheel self-balancing equipment that was the star of the show.
The technology has the capacity to bring a person up to 22 kilometers at a maximum speed of 16km per hour.
Ninebot gets its advices from Xiaomi Corp CEO Lei Jun. He said, "Ninebot's products aim to solve a thorny problem in big cities where many peoplefind it hard to park their cars near their final destinations. A portable balancing device helpsthem complete the last kilometer transportation."
He has invested a sizeable amount to the three-year old startup because Xiaomi plans to include the short-distance transportation market into the ecosystem of China's best-known technology company. Ninebot will develop high-quality, affordable products that would stimulate demand in the country.
However, there has been a rising challenge for hoverboard makers lately. According to The Wall Street Journal there has been increasing cases of this device catching fire. Now, Amazon.com Inc and Target Corp., has banned the sale of certain hover board brands.
The Press Democrat reported that Ninebot rival Bunch put the blame on cheap Chinese hover boards. Jake Bunch said, "You get what you pay for."
In April, Ninebot announced that it would buy US-based balancing-vehicle company Segway Inc. That acquisition follows news of investors like Xiaomi and Sequoia Capital putting money in Ninebot. Segway's high-end products and international distribution network will allow Ninebot to overtake its rivals in the hoverboard industry.
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