Xiaomi CEO invests in cool electric bikes that connect to your smartphone

Electric bikes are no longer the preferred way of getting around China's cities. People are moving onto cars. The bike lanes are getting a bit less frenetically elbow-to-elbow as the roads fill up instead with gas-guzzlers that add to the polluted skylines. Yes, more e-bikes than cars are sold each year in China and there are more than 200 million e-bikes scattered across the nation, but cars have now won over the hearts of Chinese consumers.

So it seems an odd time for a Chinese startup to be building a fledgling business that specializes in electric scooters. But what YunMake has created isn't a normal electric-powered two-wheeler — it's a radically designed smart bike that connects with an app. The Yunbike X1 looks like this: Read more...