Lit Motors' cargo scooter driven by CEO Daniel Kim
Electric bicycles and scooters are expected to be a huge part of the future mobility picture and Lit Motors aims to be in the frame, beginning with a folding cargo scooter that we've got to say is pretty darn cool. Perhaps even more cool is the C1, a self-balancing enclosed motorcycle they are also developing, but for now the focus is on the tank-steering, lithium battery-powered scooter.

Able to carry about 300 lbs of payload – or alternately, as in the picture above, Earth2Tech's ace reporter Katie Fehrenbacher – the prototype can also fold up and reduce its footprint by half for storage. The design is targeted at emerging markets like India and China where two-wheelers are already used as work horses and CEO Daniel Kim says they are aiming at a $500 - $800 price point in those countries. In America, the tag should read somewhere between $2,000 and $4,000. That's quite a difference.

The company is planning on building up to ten bikes this summer, and possibly as many as 1,000 six months after the initial run. Future production goals are an ambitious 50,000 to 200,000 units. Hit the jump for video of the full interview with Daniel Kim. We've also thrown in a bonus clip of the cargo scooter being confidently demonstrated by its creator in San Francisco traffic.

[Source: Earth2Tech / Lit Motors]