The E.T has an aluminum frame with suspension fork, disc brakes, and a lithium-polymer battery that's claimed to offer a range of about 35 km (22 miles) per two-hour charge. Plans call for it to come standard with a 250-watt motor, although depending on the maximum allowable speed for such vehicles in different countries, that may be upgraded to up to 700 watts – which would give it a top speed of 55 km/h (34 mph).
The whole thing weighs 30 kg (66 lb), and can handle rider weights of up to 160 kg (353 lb). Plus, as mentioned, it's said to be able to fold in five seconds. That might not be quite as fast as the three seconds of the Stigo, but it's still pretty darn quick.
The E.T's designers are currently raising production funds, on Kickstarter. A pledge of US$2,190 will get you one when and if they reach production, which is estimated to start in January. The planned retail price is $2,990.
You can see the scooter in action, in the pitch video below.