Ray J’s tech company strikes whopping $31 million deal

Singer's electronic company, Raycon, offers products including the Scoot-E-Bike

(Photo by Frederick M. Brown/Getty Images)

Ray J struck gold with a $31 million wholesale deal to launch his new brand of electric transportation, Raycon.

The deal would see Ray J taking an active role in the partnership (Cowboy Wholesale) by overseeing global branding strategies and overseas marketing.

The singer had already begun his foray into the world of electronics with his brand in 2015 and is most famous for the Scoot-E-Bike, a foldable vehicle on two wheels. The new partnership is set to focus on innovation and other green electronic technologies.

“The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there,” said Ray J, according to a press release.

Raycon is set to launch in mid-November.