Segway, the one which was acquired by China’s Ninebot, five years back has now come up with the big decision.
The one that was praised as a revolution in personal travel, has now decided to stop the production of the two-wheeled vehicle.
The vehicle that captured the imagination of travelers over the world, has taken the decision because of the decline in sales.
Segway was invented by an American engineer Dean Lawrence Kamen and came up in 2001.
Segway president Judy Cai said as quoted “Within its first decade, the Segway PT became a staple in security and law enforcement, viewed as an effective and efficient personal vehicle“. He even added that the company accounted for only 1.5 percent of the revenue.
Judy Cia further said that the decision making was not easy as it is the time when the world is fighting with the pandemic and closing of Segway will lead to the removal of around 21 employees.
According to the reports, the price of the vehicle $5000, kept the customers away from buying it.
If we consider the reports, around 140000 vehicles have been sold by the company since it came into the market. The one was usually used by the police department.