Chinese company Xiaomi – a major investor in Ninebot, the China-based company that recently purchased Segway – introduces its new Ninebot Mini. Clearly modelled after the original, this new version is priced at around one-twentieth of the price, but doesn’t skimp on horsepower or features. Capable of stowing in the trunk of your car, the Ninebot Mini can tear along at a maximum speed of 10mph, navigate 15 degree hills and operate up to 22km on one battery charge, while weighing only 28-pounds and costing $314.

The Ninebot Mini is slated to release in China on November 3, however no word yet on a broader release. Check out the video below for a better idea of how the Ninebot Mini works.

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