Storm ebike - $500

This company is all the rage in the news today. They claim to have produced an electric mountain bike capable go going 20mph (on sand or snow), 50 miles on a charge, charge time of 90 minutes, lithium ion battery, and a 380 watt motor. 

Here's the kicker: it's only $500. See the link below.

http://www.instash.com/this-is-the-affordable-electric-bike-youve-been-waiting-for

It's not out yet but you can preorder one for that price using the link above.