Design World

  • Home
  • Technologies
    • 3D CAD
    • Electronics • electrical
    • Fastening & Joining
    • Factory automation
    • Linear Motion
    • Motion Control
    • Test & Measurement
    • Sensors
    • Fluid power
  • Learn
    • Ebooks / Tech Tips
    • Engineering Week
    • Future of Design Engineering
    • MC² Motion Control Classrooms
    • Podcasts
    • Videos
    • Webinars
  • LEAP AWARDS
  • Leadership
    • 2022 Voting
    • 2021 Winners
  • Design Guide Library
  • Resources
    • Subscribe!
    • 3D Cad Models
      • PARTsolutions
      • TraceParts
    • Digital Issues
      • Design World
      • EE World
    • Women in Engineering
  • Supplier Listings

China’s Ninebot Buys Struggling U.S. Segway

By Kelvin Chan, AP Business Writer | April 15, 2015

Share

Beijing-based Ninebot Inc., which makes a range of short-distance motorized transport devices, said Wednesday, April 15, 2015 that it bought Segway for an undisclosed amount. (AP Photo/Ng Han Guan, File)Segway, the iconic but struggling U.S. maker of self-balancing personal electric scooters, has been bought by a Chinese rival.

Beijing-based Ninebot Inc., which makes a range of short-distance motorized transport devices, said Wednesday that it bought Segway Inc. for an undisclosed amount. It said it received $80 million from a group of investors to finance the purchase.

Ninebot’s purchase of New Hampshire-based Segway is the latest example of a Chinese company acquiring foreign brands or technology. It’s also the latest chapter for Segway, which has passed through several owners and generally failed to live up to the great hype surrounding its launch in 2002.

Segway founder Dean Kamen famously promised that his invention would revolutionize transportation, claiming it “will be to the car what the car was to the horse and buggy.” But sales of the two-wheeler failed to take off and it earned a goofy reputation thanks to some high-profile mishaps, including President George W. Bush toppling over on one in 2003.

The acquisition comes five months after the U.S. International Trade Commission agreed to investigate Segway’s claim that Ninebot and other Chinese companies were infringing on its patents and copyrights.

Segway wanted to block imports of competing scooters into the United States but the deal appears to signal a resolution.

In a statement issued by Ninebot, Segway President Rod Keller said the “strategic alliance with Ninebot will enable us to provide more intelligent and valuable products for our customers.”

Ninebot, which was founded in 2012, said it received the $80 million investment from a group including U.S. venture capital firm Sequoia Capital, the Shunwei Foundation and Chinese smartphone maker Xiaomi.

Segway was sold in 2009 to British millionaire entrepreneur James Heselden, who died a year later when he accidentally rode one off a cliff. The company was bought by Summit Strategic Investments LCC in 2013.


Filed Under: Motion control • motor controls

 

Related Articles Read More >

Automation 1 Family and iXC4e
Aerotech continues development of Automation1 motion control platform
Motion & Control Enterprises purchases RSA and Global Controls, fourth acquisition this year
49503-ACS Motion-CMxa
ACS Motion Control releases SPiiPlusCMxa EtherCAT motion controller
SDP-SI-040
SDP/SI launches brushless DC motors and motion control products series

DESIGN GUIDE LIBRARY

“motion

Enews Sign Up

Motion Control Classroom

Design World Digital Edition

cover

Browse the most current issue of Design World and back issues in an easy to use high quality format. Clip, share and download with the leading design engineering magazine today.

EDABoard the Forum for Electronics

Top global problem solving EE forum covering Microcontrollers, DSP, Networking, Analog and Digital Design, RF, Power Electronics, PCB Routing and much more

EDABoard: Forum for electronics

Sponsored Content

  • Industrial disc pack couplings
  • Pushing performance: Adding functionality to terminal blocks
  • Get to Know Würth Industrial Division
  • Renishaw next-generation FORTiS™ enclosed linear encoders offer enhanced metrology and reliability for machine tools
  • WAGO’s smartDESIGNER Online Provides Seamless Progression for Projects
  • Epoxy Certified for UL 1203 Standard

Design World Podcasts

July 26, 2022
Tech Tuesdays: Sorbothane marks 40 years of shock and vibration innovation
See More >
Engineering Exchange

The Engineering Exchange is a global educational networking community for engineers.

Connect, share, and learn today »

Design World
  • Advertising
  • About us
  • Contact
  • Manage your Design World Subscription
  • Subscribe
  • Design World Digital Network
  • Engineering White Papers
  • LEAP AWARDS

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Design World

  • Home
  • Technologies
    • 3D CAD
    • Electronics • electrical
    • Fastening & Joining
    • Factory automation
    • Linear Motion
    • Motion Control
    • Test & Measurement
    • Sensors
    • Fluid power
  • Learn
    • Ebooks / Tech Tips
    • Engineering Week
    • Future of Design Engineering
    • MC² Motion Control Classrooms
    • Podcasts
    • Videos
    • Webinars
  • LEAP AWARDS
  • Leadership
    • 2022 Voting
    • 2021 Winners
  • Design Guide Library
  • Resources
    • Subscribe!
    • 3D Cad Models
      • PARTsolutions
      • TraceParts
    • Digital Issues
      • Design World
      • EE World
    • Women in Engineering
  • Supplier Listings