Source: VIRO Motors/MGA Entertainment

MGA 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.

“With an impressive top speed of 15mph, as well as the convenience of charging it at any station near you, the Café Racer’s power and efficiency are unmatched,” says MGAE Founder and CEO Isaac Larian. “At only $500 retail, this is a steal”

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.”

“Frankly, I like my Café Racer better than my wife’s Tesla,” Larian says. “Watch me here riding it and having a ball while doing it. Watch out, Tesla!”

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.