The Yikebike is a miniature, electric penny farthing made of carbon fiber capable of 25 km/h (15 mph) with a range of 10 km (6.2 miles), or 20 km (12.4 miles) if you carry a spare battery.
The Yikebike is the smallest transportation "appliance" we've ever ridden - by a mile - nothing else exists that is even close (except perhaps Toyota's Winglet Prototype and Honda's U3-X prototypes). Anyway, don't let the fact that it's on sale lull you into believing it isn't revolutionary - it is - and it has been updated for the 2012 year, with numerous small changes making for an improved experience. The wheels are now puncture-proof, the riding position has been altered, and the carbon fibre handle bars have been swapped for alloy.
The changes have cost the Yikebike a smidgen in weight - the Carbon Model now weighs in at 11.5 kg and the Fusion Model at 14.7 kg.
Significantly increased production capacity has also brought the long delivery times of 2011 down to a bearable "within two weeks of payment confirmation" and the global distributorship network has now grown significantly to include America, Australia, Chile, Spain, Ukraine, Czech Republic, New Zealand, Mexico, Malaysia, UK, Portugal, Denmark, Norway and the Russian Federation.
Source: product page, distributorship network
Now if the Yikebike was US$398 then sure that would be worth it. The price is for rich people with two much money that want to impress their friends with their coolness.