Unagi tried to make the hypercar of scooters but ultimately decided it was bad business.
. The campaign ultimately raised more than $700,000. Now, the company is saying it has canceled the Model Eleven entirely., was going to be leaps and bounds beyond any scooter you’d seen on the road. The company billed it as “the smartest scooter on Earth” and promised scooter-specific directions via Google Maps, a camera system that could help riders detect obstacles and avoid crashes, a hot-swappable battery, a full suspension for more comfortable riding, and plenty more.
for weeks without an answer? You have a couple of options. One, you can just ask for a full refund, and Unagi CEO David Hyman says he’ll honor all of those requests. You can also swap your commitment for a three-year subscription to the company’s new Model One Voyager along with some extra Unagi-branded gear. Or you can get two Voyagers that are yours to keep plus similar gear.
More recently, the company has decided to focus its whole business on subscriptions. It doesn’t want to sell you a scooter once; it wants to rent you one every month. Its pitch is that, if you subscribe to a scooter, Unagi handles the maintenance and upgrades and even replaces the thing if it gets stolen. The original Unagi Model One costs $55 a month to rent; the new Model One Voyager, which has more range and some additional connectivity, is $67 a month.
There’s a world in which Unagi had so much money and market share that it could afford to sell such a high-price vehicle to the few people who might want it, Hyman says. “If I was sitting on $100 million, would I put it out there just for brand marketing, even though we’d lose a ton of money on it? Yeah, sure.” But the company, which has raised about $13.7 million in funding, according to Crunchbase, has to stay focused on where its real business lies.
Still, Hyman says he hopes the work on the Model Eleven isn’t lost. He hints that some of the Eleven’s features will end up in other Unagi scooters down the road, and he still seems enticed by the luxury car idea. “The question is, when would consumers be at the point that they’re ready for a scooter at that price?” The supercar of scooters may yet have its day. Just not yet.
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