Another cycle-based crowd funding success, this time for an Argentinian-born e-bike that "folds in one second"

Folding Gi FlyBike e-bike hits Kickstarter target in just five hours

The electrically assisted Gi FlyBike is to go into production after becoming the latest crowdfunded cycle project that has smashed its target.

In fact the project acheived its $75,000 target within just five hours of going live. Overnight, the figure is still climbing and has topped $100,000. The team behind the bike has now confirmed a manufacturing partnership with Yadea Technology Group in China, beginning in the New Year.

Weighing a mere 17kg, the bike is mobile integrated and folds in just one second and one motion, the makers claim. Much can be controleed wirelessly, so users can lock the bike from five metres away via the inevitable app, or shared with a friend via an unlock code. Via the app users can also turn the integrated safety lights on – the bike charges the phone while the rider pedals.

It’s made from 100 per cent recyclable aircraft grade aluminium alloyand has a brushless 250w 36v hub motor from Bafang. It has 26×1.5-inch wheels, a non-grease belt drive and solid anti-puncture tyres.

Gi FlyBike is the brainchild of three friends, Lucas Toledo (tech-passionate entrepreneur), Agustín Agostinoy (industrial designer) and Eric Sevillia (business guru), who came up with the Gi FlyBike after experiencing national transport strikes in Argentina.

“We are so proud to announce Gi FlyBike and offer a better, more enjoyable solution that disrupts the way we think about our daily commute”, says Toledo. “Gi FlyBike is an all-in-one bicycle that fulfils your tech savvy needs, adapts to your city, looks incredibly sleek and stylish, and ultimately promotes a greener and better world.”

Gi FlyBike will be available for pre-sale on Kickstarter at an early adopter price of $1,990. Pre-sale orders will be delivered in the summer of 2016. The full price for Gi FlyBike after the limited pre-sale period will be $2,290.

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