Electric bikes are all the rage these days, except most people don’t want one because they can get pretty expensive. Enter Christian Michael and Danish design studio Mate, who have collaborated on the Mate X Folding E-Bike. It offers high specifications and high power at a fairly affordable price.

The bike boasts a 750W motor with a superior 48V lithium-ion battery, which translates to 20mph with a range of 60 to 80 miles. Plus, it features a Shimano 8-speed cassette for improved gear shifting, and sturdy one-click foldable pedals for higher power transfer. We’re also talking a new Tektro braking system and puncture-resistant fat tires. Those make for an excellent electric bike that won’t break the bank.

Customization options include adding a rear rack with built-in brake lights, aluminum fenders, and a hydraulic braking system, but you can eschew all of that to keep the price down. Anyway, the main draw here is that it’s an affordable electric bike, and a folding one at that. You can fold it in about 10 seconds for easy storage and transportation. That can be a huge convenience for urbanites since you can pack it in a car quickly. Alternatively, you can fold the handlebars and pedals if you need a thin profile to store the bike in a narrow hallway.

The frame is 100% forged from 6061 aluminum alloy and you can choose between colors like Desert Storm, Subdued Black, Dusty Army, Unicorn, Burn Orange, and White Ice. Pricing starts at $799.

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Photos courtesy of Mate