This hoverboard doesn't have any unlockable upgrades.
Panda was the tenth limited hoverboard in Subway Surfers which was introduced in . Like any other hoverboard, it protects you from crashing for 30 seconds. When crashed, the hoverboard will explode and need to recharge for a few seconds before using again. Just like all other limited hoverboards, Panda costs 50,000.
The board has a picture of a rather cute panda's eyes, mouth, and nose with leaves surrounding it.