Folding electric bike that fits into a backpack (pre-launch)

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Very curious why this was cancelled...?
Beautiful bike guys! Congratulations
The ebike called Impossible is made of carbon fiber,powered by ten smartphone batteries (2,900 mAh) and priced at US$378.Claims to be the first truly foldable electric bike that will be so light - maximum of 5kg that you could actually carry it around in a backpack. Folding bikes generally weigh upwards of 10kg. The funky little ebike can travel up to 12.4 mph for 45 minutes or at normal speed for up to 15.6 miles. It won’t get you far and those small wheels look rather hazardous on anything but the smoothest pathways but it’s meant for city commutes, not a road trip.