GiBike, Eric Sevillia: Man creates foldable, electric bike

Smart cars, smartphones, smart classrooms.  Everything is getting an electronic boost these days, so why shouldn't your bike?

The new GiBike charges your smartphone, locks itself and folds in half.

“People living in urban areas or metropolitan areas have smaller spaces where they live, where they work. They have to ride the subway, bring it into an elevator,” said Eric Sevillia, a founder of GiBike.

It's built for the city.

“The bike is basically designed to be both electric and foldable with an integrated mobile application to give the experience,” said Sevillia.

It’s aimed at making urban travel easier.

“The bike has pedaling assistance, which means that it gives you assistance while you pedal. It will give you the ability to ride up to 40 miles with the bike with a speed limit of up to 15 mph,” said Sevillia.

It can get 40 miles fully charged, and there's no pedaling. GiBike connects to your smartphone, so users can map out their rides, and this battery powered bike also charges your smartphone and autolocks.

“Once you step away 10 feet from your bike, it will automatically lock,” said Sevillia.

He is one of three founders -- all from Argentina - where the idea was born.

“We experienced a national strike that stopped public transportation from moving along - basically taking the independence out of the people,” said Sevillia.

Right now GiBike is a prototype - the co-founders have launched a Kickstarter campaign to raise money.
And they won't be cheap - the electric bike would sell about $3,500.

As cities get smarter and more connected, there's more competition.  Another company has created a bike add on called the Copenhagen wheel that turns any bike into a hybrid electric bike.

“I think that is going to be the next trend in technology - how you integrate technology into your daily life,” said Sevillia.

“How does this particular innovation play into the smart city concept?” asked CNNMoney reporter Laurie Segall.

“Well you know as we said, smart cities are doing certain things to make it more innovative such as preventing cars coming into the city, allowing subways to be timed, and then designing the proper infrastructure to allow bike to be able to ride safe,” said Sevillia.

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