We might have found your next new ride: Portland, Ore.-based Ryno Motors is redefining the motorcycle. Not only is it a unicycle, this self-balancing vehicle is electrically powered. Although the bike may only get up to a maximum of 25 mph, a battery charge can last around 30 miles and can be easily charged in an hour and a half.
Ryno Motors is on track to release their production bikes in early 2013 with a retail price of $4,500. Ryno cycles will be one of a kind with a patent-pending auto-balancing system. The cycles will soon get lots of local advertising in the near future with the help of the Portland Police Station. According to Sustainable Business Oregon, the company has signed a leasing agreement with the PSD for two bikes at the expense of $1.
With Ryno's newly designed cycles about to hit the market, it could mean trouble for the two-wheeled Segway. The producer of the Segway PT, could potentially be at risk of decreasing profit margins as Ryno Motors enters into the personal electronic vehicles market.
Segways have been popular with police departments in providing an easily maneuverable vehicle for foot patrols. With the Ryno cycle now in the mix, is it possible the company has met its match?
Business section: Investing ideas
As Ryno Motors enters the market with their newly designed cycle, in time they could gain significant market power in a growing industry. With increasing technology and efficiency of battery life, these cycles could potentially compete with leading electric cars.
Would you rather invest in an electric car or unicycle?
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1. Honda Motor
2. Nissan Motor (OTC: NSANY): Engages in the manufacture and sale of automotive products, industrial machinery, and marine equipment primarily in Japan, North America, and Europe. The company has a market cap of $39.66 billion, most recent closing price at $19.45.
3. Toyota Motor
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Kapitall's Kelly Haugen has no positions in the companies mentioned above. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.