Chinese tech firm Xiaomi unveiled Thursday its first smart bicycle, an electric and foldable prototype that comes with its own navigation system, on social media.

The “Mi QiCycle”, one of its most anticipated products, is priced at around $456 and has a 250-Watt, 36-Volt high speed motor; a navigation system that measures distance and speed and a Torque measurement method belonging to the Dutch firm IDBike, all of which is powered by Panasonic 2900mAh lithium-ion battery cells.

Gear shifters from Japanese firm Shimano handled the mechanical aspect of the bicycle, which comes with a mobile application that can provide real-time information on the state of the bicycle, data on the how much it ran, as well as a GPS trajectory of the route.

On the handlebar there is a mount for the smartphone, which connects to the bicycle via Bluetooth. It will help you to take advantages of various useful features such as speedometer, maps and traffic, lights controller, charge level indicator etc.

Xiaomi, the world’s largest mobile phone manufacturer, was founded in 2010 and has a diverse portfolio of products, from television sets to rice cookers.

Xiaomi, known as “China’s Apple,” is looking to conquer the Latin American market. The company’s Redmi 2 smartphone was made available at its online store to Brazilian consumers for 500 reais ($160) on July of last year.

In Costa Rica, Xiaomi smartphones were initially available at Tienda Gamers in San Jose; however, the MI 4i, Red MI NOTE 2 and MI5i models were formally introduced by the Chinese tecjh giant earlier this year. Stores such as Walmart, Gollo, Almacenes Casa Blanca, Office Depot, and Grupo Monge are carrying these models, and they plan to add teh REDMI 3 and REDMINOTE 3 to their inventories sometime this year.