Sealegs to enter jet skis market

Jet skis are among the next marine craft amphibious boat-maker Sealegs hopes to put on wheels.

At the company's annual meeting in Auckland yesterday, managing director David McKee Wright said jet ski companies had research and development budgets of hundreds of millions, and he believed Sealegs had a valuable proposition for them.

Although there were a lot of rich people who could afford the company's boats - priced at about $98,000 - McKee Wright's desire to "get the company rocking quickly" meant it could not rely on the deep-pocketed few.

Sealegs was looking to license its wheel system to other boat manufacturers and planned to take over some of the manufacturing it now contracted out, which would bring down the price.