Today it was announced that Xiaomi will be backing start-up Ninebot in a attempt to buy E-vehicle maker Segway.
Xiaomi were once a young start-up and know what challenges fellow start-ups can face so are acutely seeking out potential companies to keep under its wing. China’s Ninebot is lucky enough to be one of those companies. The E-vehicle maker started life only 2 years ago, but now with the help of Xiaomi, plan to buy U.S rival Segway.
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It’s an interesting piece of news especially as Segway have complained that Ninebot have infringed on several of their patents, and are in the process of trying to block the Chinese made product in the U.S.
Ninebot currently sells it’s Ninebot Segway style vehicle and single wheel Ninebot One in around 38 countries with pricing ranging from $850 to $3199. Xiaomi have become a backer of the company in the latest round of investment worth $80 million.[ Bloomberg ]