Toy market news

MGA Entertainment enters EV market, plans SPAC IPO for VIRO Motors Division

Entertainment (MGAE) is looking beyond L.O.L. Surprise! and Little Tikes in an effort to conquer a new market

MGAE sped into the Electric Vehicle (EV) market this week with the launch of its VIRO Motors EV Café Racer. The electric minibike designed for ages 13 and up has a 7-mile range.

In launching the VIRO brand, Larian took a playful shot at Elon Musk’s Tesla alongside Raven and Lucid Motors, noting that VIRO Motors “has been profitable since day one.”

Designers at MGAE are working on additional models with more range and additional features.

Larian says that he plans to take VIRO Motors public next year with plans for a SPAC (Special Purchase Acquisition Company) IPO.

toybook.com