Easy riders do a US deal Inventors chase $30m sales
TWO Gold Coast electric trike inventors say they have signed a US distribution deal that could be worth nearly $30 million in sales.
Former builder Dal Seale and ex-electrician Chris O’Neill launched the DC-Tri in 2017 – a trike powered by an electric motor and rechargeable lithium battery with a 50km range.
A Kickstarter campaign that year raised more than $50,000 for the first production run.
The pair say that after years of searching they have found the right commercial partner to take the trike to the US market.
Last year Mr Seale and Mr O’Neill, whose businesses include a modelmaking enterprise, built a model of a new wooden rollercoaster for The New Atlantis attraction at Sea World.
The manufacturer of the full-size version was Martin & Vleminckx, a large US-based manufacturer of theme park rides.
That company’s senior vice president of marketing and sales, Charles (Chuck) Bingham, came out for the launch of the rollercoaster with his son Todd Bingham and both tried the trikes out.
“They had a ride on the trikes and fell in love with them,” Mr Seale said.
He said it happened that Chuck and Todd Bingham were looking for a new product to market through their own company, separate to Martin & Vleminckx, in the US.
Mr Seale said it was decided to sign over the US distribution rights to the pair and change the name from DC Tri to Mobitrike.
“We think it will explode in the US,” Mr O’Neill said.
“We are thinking they will do 10,000 unit sales in one year.”
Todd Bingham said the trike’s design created an “immediate interest and great first impression” for the pair.
“We feel Mobitrike will find many roles within multiple categories that ebikes cannot efficiently fulfil due to traditional design restrictions,” he said.
“The unique Mobitrike platform design provides stability and manoeuvrability not found elsewhere. With the ability to fit through standard size doorways and perform a 360-degree turn within an elevator, the trike will also appeal to those with mobility issues.”
If the Binghams, who are working on establishing distributors in the US, reach the 10,000 target, it will mean $28.99 million in sales based on the $2899 price tag.
The US will also be a test market for the rollout of the first 50-watt Mobitrike version, which has more grunt and power than earlier models.
“Because it is a threewheeled stand-up there is no competitor,” Mr O’Neill said.
“A lot of people label it the safe Segway. We had a 103-year-old ride one.”
The Binghams have also bought distribution rights to Europe, China and India as well as Australia.