We’ve seen a ton of new electric bikes come along the way and the best ones usually soar past the $1,000 range. But now there’s the Jolt eBike that has a 50-mile range and is less than $500 (if you buy it soon). It’s currently being funded on Indiegogo where it has already reached its goal of $50,000 with 23 days left in the campaign.

This eBike has been designed for just about any rider and commuter out there. They’re calling it the “best and most affordable eBike on the planet.” Perhaps one of the best features of this eBike is its portability and the fact that it comes fully assembled. All you have to do when it arrives is unfold it and click the joints into place and you’re ready to ride. When you are done just fold it back up and store it without a hassle.

It comes with a 36V and 350W motor and can travel up to 50 miles using the LG lithium-ion battery. But that’s with some pedaling involved. If you plan to not pedal at all, it goes just 30 miles. It also includes an LCD readout of speed and range to keep track of how far you’ve gone with it. 

The bike has basically a one-size-fits-all design and it can accommodate riders up to 6’4″ tall weighing up to to 275lbs. When folded, the JOLT takes up just 34.6″x 25.2″ x 15.8″ which could fit into most car trunks. There’s no weight listed for the bike, but we’re guessing it’s pretty light as it’s built from aluminum.

If this bike interests you, there’s an early bird Jolt you can grab at just $499 off the Indiegogo campaign site. That’s 75% off the expected retail value and the lowest you can get it for currently. You can get it in white, black or blue. Each Bolt comes with a 350-watt motor, 50 mile range, 20 mph top-speed, all-terrain tires and an LG li-ion battery. If all goes as planned, shipping is expected for April of 2018.

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