Xiaomi may not yet have a drone that can carry people, but at least it has an electric bicycle now, and it'll only cost you 2,999 yuan or about $460/£307. The Mi Qicycle is the second product from the Xiaomi-backed startup, iRiding, who released the premium 19,999 yuan (about $3,000/£2045) Qicycle R1 just back in March. This time round, iRiding is able to slap Xiaomi's "Mi" brand on its latest ride to target the mass market. While the Mi Qicycle weighs a total of 14.5kg (almost twice that of the carbon fiber-made R1), it can be folded into half its size for easier storage. It comes with a 3-speed hub plus a 250W motor which offers pedal assist, and that's good for up to 45km (about 28 miles) on a single charge.