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Gi FlyBike, the Impossibly Beautiful e-Bike That Turned Out to Be a Scam

e-Bikes have seen an unprecedented and unexpected rise in popularity, but back in 2015, they were more of a novelty product. They still attracted plenty of attention and even more interest from customers eager to switch to an alternative, greener, smarter means of transport.
The impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBike 12 photos
Photo: Gi FlyBike
The impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBikeThe impossibly beautiful, record-folding electric bike that fell flat, the Gi FlyBike
Back in 2015, when the Gi FlyBike was introduced on crowdfunding sites KickStarter and IndieGoGo, it was the very definition of a revolutionary product. Even by today’s standards, this e-bike delivers quite a punch on paper – which is even more impressive when you consider its unique aesthetics.

A simple look at the Gi FlyBike and you just know that, if there’s such a thing as the perfect e-bike, this is probably it.

Which only goes to show how deceiving looks can be. The Gi FlyBike is a cautionary tale of not falling for smart marketing and of a potential scam of some $6 million reported (according to rumors on various e-bike forums), one that left hundreds of backers frustrated, cheated and, ultimately, without an e-bike.

*Update April 2021

Mr. Lucas Toledo got back to us. He denies all "scam" accusations and rumors, and offers an explanation for what went wrong with the project. His side of the story is available in full at the link.

The promising start

In 2014, Lucas Toledo, Eric Sevillia and Agustin Agustinoy from Argentina set up Bignay Inc., with offices in New York, Argentina and China. They never counted on more than 10 employees, but their story was a truly inspirational one: during a public transport strike in native Argentina, the trio had decided to offer people an alternative to it, the perfect electric city bike.

The impossibly beautiful, record\-folding electric bike that fell flat, the Gi FlyBike
Photo: Gi FlyBike
They came up with the idea for Gi FlyBike, which, one year later, would be named the world’s first e-bike that folds down in just one second. To this day, this is a striking feat. By incorporating the FlyFolding patented system, the bike could fold in two in the blink of an eye (literally) and then easily be rolled onto public transport or into an apartment much like you would a luggage bag.

The fact that the bike boasted a total weight of just 17 kg (37.5 pounds) only added to its appeal, as did the striking aesthetic it was first presented with. With a sleek, clean, minimalist design, the bike lacked gears, cables, chain or any other accessory. It was the most beautiful thing since sliced bread, as the saying goes, yet promised increased functionality and ease of use.

Rolling on solid Tannus tires (no more flats!, the makers said) and using a belt drive (no more oily, messy chains!), the bike was powered by a 2,800 mAh Lithium Ferrum Phosphate (LifePo4) non-removable battery and a rear wheel Bafang hub gearless, brushless 250 watt motor. It boasted a maximum range of 60 km (40 miles) on a single charge and a top speed of 25 kph (15.5 mph) with pedal assist.

There were no gears, but the bike came with four “Flight Assistance” modes, one of which was pedal-only. All four modes, together with lighting and locking of the bike, were accessible over the phone, through the dedicated app. Also through the app, riders could share their bikes with friends, by sending them over the unlock code. The fact that the bike locked automatically when the owner stepped away from it made it double as an anti-theft mechanism.

Even the seat claimed to be revolutionary: gel inserts promised the most comfortable ride for the butt, while an extra layer of kevlar had been added to reduce wear and tear on the section of the seat that came to rest on the ground when the bike was folded.

Backers could get the Gi FlyBike at a discounted price, with the makers saying it would come to market widely some time later. The starting price was $2,700, but the backers got it for around $2,000. Quite a lot of money, then and now.

The rolling snowball

As time passed, the design of the bike changed. The final product, the one that was delivered to (some) customers, was still a beautiful one in its own right, but it couldn’t hold a candle to the original. Cables popped up everywhere, the seat went through at least a couple of changes, the spokes increased in number and the profile of the crank was no longer hollow, to name just a few differences.

The impossibly beautiful, record\-folding electric bike that fell flat, the Gi FlyBike
Photo: Gi FlyBike
Then came issues with deliveries. To this day (June 2020), Australian backers never got their bikes and / or refunds. Backers and customers from other countries that did receive their order were surprised to see a lot of stuff didn’t match the description: the build wasn’t as high quality as they expected, the seat post was nearly impossible to adjust, folding the bike was a challenge in itself, there were scratches and chipped paint, black bikes were more of a dark gray shade than actual black.

More importantly though, stuff started breaking too soon. The belt drive that was touted as a solid, more elegant alternative to chain was of the lowest grade and stretched and broke, and there were no clues as to which type could be used as replacement. Spokes on the wheels broke, as did the folding mechanism and, just as worse, updates on the app bricked the bike or the bike no longer connected to the phone (becaming inoperable in both cases).

Sometime in 2019, Bingany went completely dark in terms of communication with buyers: they stopped responding to emails, picking up phone calls and engaging with customers in any shape or form. The website is still online but you can no longer place an order for the bike. To this day, there are people out there who are still hoping to get their bikes fixed or delivered, or at the very least, a part of the money they paid for them.

Meera, whom we spoke to, gave up all hope of that happening in late 2018, when, she says, she realized she would never get a refund or the bike. She’d been in communication with the company for nearly two years, and then it all stopped.

“Dealing with Gi Fly bike has been the most stressful, frustrating and disappointing experience,”
 she tells us. “They have defrauded, not just me, but all the people from Australia who put their faith in a start up and prepaid thousands of dollars. After 4 years we have received neither a bike nor a refund. This company is simply a scam!”

Janet tells us she never got her bike either, despite her best efforts to get in touch with the company post-early 2019. The same goes for other backers we spoke to and whose experience is such that they would rather not revisit it.

The impossibly beautiful, record\-folding electric bike that fell flat, the Gi FlyBike
Photo: Gi FlyBike
Gi FlyBike and Toledo were not available for comment as of the time of press, but we will update the story accordingly, should their schedule clear up at some point.

The gamble that doesn’t always pay off

Sure, you’ll say, KickStarter campaigns are always a gamble and you’re right. There are risks inherent to crowdfunding campaigns, but they mostly relate to fact that backers might not get the product either in the estimated timeframe or at all. Refunds are the rule in such cases, and this is one where it didn’t happen.

This could be a bad case of a promising startup screwing things up (big time) and handling communications worse in the aftermath, since some backers did receive the bike – it just wasn’t what they expected or were promised.

Or it could have been a scam from the start. It’s also a cautionary tale in misplaced customer trust, the power of online marketing and the risks of crowdfunding campaigns for those that end up picking up the bill. Not as important, but it’s also a sad example of wasted potential: the most beautiful bike that secured the funds to be made, but never was.

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About the author: Elena Gorgan
Elena Gorgan profile photo

Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends.
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