Lectric, the US-based maker of budget electric bikes, has a new foldable that costs just $799, before taxes. That’s incredibly inexpensive at a time when transportation costs, combined with chip and component shortages, are driving up prices across the e-bike industry. Better yet, it’s apparently not junk.

Electrek’s Micah Toll, who’s ridden more US e-bikes than anyone I know, had the chance to ride the new Lectric XP Lite ahead of production. He says it’s “the #1 electric bike I will recommend to anyone shopping on a tight budget.” High praise.

The Lectric XP Lite iterates on the company’s XP and XP 2.0 models, only it’s now lighter (but not light at 53 pounds / 24kg with battery) and more compact, while also being more maneuverable according to the company.

The class 2 e-bike is fitted with a 300W (capable of a 720W peak) rear hub motor that tops out at 20mph (32km/h). It’s powered by a 375Wh-capacity battery that’s good for about 15 miles (24km) using only the throttle, or 40 miles (64km) in the lowest pedal-assist mode.

Best of all, if you’re in the US then you can rely upon local shipping and support from the Arizona-based company, unlike anyone that bought the cheap but dangerous Fiido X which is now facing a global recall.

The Lectric XP Lite comes in four colors — white, blue, black, and “sand” — and ships in a relatively quick four to five weeks.