This weird thing is a 1.2kW electric motor powered, carbon fiber foldable bike called the YikeBike.

YikeBike is a statement about using smart technology to solve the problems of our increasingly congested, polluted, stressful cities.

It is the first commercial expression of the mini-farthing concept, created up by a bunch of successful entrepreneurs, engineers and dreamers.

They were intrigued by creating something that could dramatically change urban transport, enabling city dwellers a fast, safe and easy way to navigate their environment.

The result was the mini-farthing concept and its first expression, the YikeBike. It employs state-of-the-art technology, engineering and industrial design to create a new class of personal transport.

It is a 1.2kW electric motor powered, carbon fiber foldable bike, unfolds in 15 seconds.

YikeBike only takes 6 x 23.6 x 23.6 inches (150 x 600 x 600 millimeters) and weighs 22 pounds (10 kilograms), so it can be easily carried around. $4,900.