|SEASON 6 EPISODE 29|
|Pitch||three-wheel electric scooters|
|Asked For||$300,000 for 10%|
|Deal||$300,000 for 20%|
|Status||Out of Business|
What is Sway Motorsport?
Sway Motorsports produced innovative trikes. These trikes were a blend of traditional motorcycles and scooters. To accurately capture its description, it was modeled like a three-wheeled scooter.
Sway trikes are powered by a lithium battery and have a top speed of 55 miles per hour. What distinguishes Sway from conventional motorcycles is that a user sways on this trike to change direction, unlike a motorcycle where one has to steer using the handle.
Who Owns Sway Motorsport?
Joe Wilcox is the creator of Sway Motorsports. Before founding Sway, he had worked for NASA as an Industrial Designer. Joe then joined IDEO, where he was a Senior Designer and Toy Inventor. He then worked as the CEO of Sway until 2018.
Joe was motivated to create Sway to cater to city residents who were tired of the traditional bikes and scooters. He wanted to create a vehicle that had a blend of the two and could easily be used by anyone who already had a driver’s license.
What Happened After Shark Tank Update
Is Sway Motorsport Still in Business?
Sway Motorsports website is still functional, but it indicates that the production of Sway is still in beta testing. Joe is currently the Director of Advanced Vehicle Development, which effectively confirms that the product never made is no longer in production.
The wow factor about Sway was that a user would sway to steer the trike. Despite the novel features of Sway and the significant interests from the target market. This was evidenced by massive deposits by potential clients. Unfortunately, the company couldn’t mass produce the bikes.