After making its debut less than a fortnight ago, the Wuxi company that has developed the world's first folding e-bike has announced that it is to be put into production for limited release in across the city in September.

Wuxi Koler Wheel Intelligent Technology's "Dou Na K1" is set to retail at 1,999 yuan ($300), and will be available at exclusive stores set to open around the city, including one Nanchan Temple.

Made of super lightweight composite alloys, the e-bike weighs just 9.8 kg and when folded is able to be carried in a small backpack. On a 1.5-hour charge the bike has a range of up to 12 kilometers.

Dou Na K1 is also equipped with a built-in global positioning system (GPS). Through the use a mobile app, users are able to track their bikes when lost.

Read more: Wuxi innovates: world's first folding e-bike makes its debut