Ryno Motors has introduced a vehicle that's best described as the cross between a motorcycle and a Segway.
The Portland, Ore.-based company comes from partners Chris Hoffman and Tony Humpage, who are nearly ready to begin production of the unusual one-wheeled electric motorcycles, Business Insider reported via The New York Times.
Hoffman had made his own one-wheeled machine and received five email offers of $25,000 for the device. Now COO of Ryno, Humpage helped him lay out a plan of action.
"We have to build a business plan that shows how this will scale," he told Hoffman when the pair teamed up about two and a half years ago.
The Ryno, which uses "self-balancing" technology and is directed when the rider leans, will start at $5,300. It's intended for use while traveling alongside pedestrians or moving through a warehouse.
The company is also touting the new electric pseudo-motorcycles as an alternative to the Segway for mall cops. Because the Ryno is about the same height as a small motorcycle, officers can stand on their feet while the vehicle is stopped.
"He can look right at whoever he's talking to, and if he has to, he can drop it and run after someone," Hoffman described to the Times.
While expensive, a Ryno actually costs less than a Segway, and the duo behind the company believe the price will come down as more people buy it.
Hoffman estimates that around 1,500 people will be early adopters for the unusual vehicle and plans to move forward at a slow but steady rate. Ryno Motors has brought in around $2 million from investors.
"A lot of companies, the biggest mistake they make is they think it's gonna be huge, and they tool up" for mass production, Hoffman said, according to Business Insider.
Besides security, Hoffman hopes Ryno can break into the electric bike market.
The company had received around 100 orders as of Tuesday and will start delivering the machines on April 16, the Times said.
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