Folding electric scooter

NEW YORK (FOX 5 NEWS) - It neither a scooter nor a bike: it is called URB-E, a foldable electronic vehicle. The URB-E models are being showcased at the New York International Auto Show.

Evan Saunders, the head of marketing and sales, says the company built the device to try to solve transportation issues in cities, like New York, where traffic is always a problem.

The URB-E can be charged in three hours. It rides as far as 20 miles on a single charge. The maximum speed 18 mph. You can even charge your cell phone as you ride. One model turns into a shopping cart use at a supermarket.

Saunders says that the company's research shows that the two-wheeler can save you some green on your commute. He says nearly 1,000 New Yorkers already own an URB-E.

You can get one of these rides for $899.