No matter where you go, there will always be people riding bikes. For millions of people around the world, bikes are a main source of transportation, and it's easy to see why: they're cheap, efficient and relatively easy to maintain. For anyone looking to save as much money as possible, bikes are one of the best options available.

Of course, for longer commutes, most people would prefer to use an electric bike. They're quicker and require less effort — basically, you needn't worry about showing up at work ten minutes late and covered in sweat. Unfortunately, a lot of electric bikes take up more space than their foot-powered counterparts... but someone's come up with a elegantly simple solution to this problem.

Folding bikes have been around for years. They may look a little silly to some, but they also take up a fraction of the space, compared with full-sized bikes. For whatever reason, electric bikes have never received the same treatment — until now.

The A-Bike Electric is one of those products that, once you've seen it, you wonder why no one thought of it before. Again, folding bikes have been around for years — why has no one thought of shrinking them sooner? And, at its absolute smallest, the A-Bike Electric could fit into an over-sized backpack. Not only is there no need to worry about locking it up, but bringing your bike inside doesn't have to be a gigantic hassle.

Or, you don't have to bring it inside at all: unlike many other electric bikes, the A-Bike Electric features a removable battery. It's another "Why didn't I think of that?" idea — instead of leaving a battery out in the elements, riders can simply pop the battery out of the frame and bring it inside for the night. On top of that, there's no need to worry about the battery dying mid-ride, as the A-Bike Electric can still be used like a normal bike without it.

If you want to actually get your hands on the A-Bike Electric, you'll have to pay for it: while the Kickstarter's smallest rewards tier is set at £5 (roughly $8), only donations of £499 (approximately $695) or more will actually net you the bike. Comparatively speaking, it's not a bad price — some electric bikes go for more than twice that, so if you've got the cash and have been looking for something similar, the A-Bike Electric could be the way to go.

As of writing, the project doesn't have any stretch goals just yet, but the A-Bike Electric isn't all that far from being funded. With 27 days left, the project has raised just over $40,000 of its $62,000 goal — at this rate, the A-Bike Electric will be fully funded by the end of the week.

If you're interested in helping fund the A-Bike Electric — or just want to know more about the world's first folding electric bike, head on over to the project's official Kickstarter page.