They should be well over $40k today, and now you have to pay the full amount, but the same price. If this campaign works I think it would be a model for everyone. First off, make an interesting bike, something that isn't bare bones. Second, give people real detail, especially on batteries. Third, don't mess with the drop ship "we don't own them, you do" stuff. Fourth, leave the impression you want to be around for a while, and then offer a warranty.
Everything costs money, so maybe this is $500 more than the Storm. Every dollar they have spent has bought something people ought to want. I don't like IGG, but they are a platform. A platform with skuzzy standards. I guess the campaign matters more.
The whole core of the thing is whether you can raise capital you wouldn't otherwise have, buy the parts super-wholesale, and then assemble them or get them over here. You can make choices. You might get the parts to the US, inspect them, and assemble them. Someone might ask where they are doing the actual assembly. I wonder how many hours this requires, how much this costs. Or how much it costs to assemble in the US versus China. And what difference in quality? We know the other parts, basically, because you can buy them on Amazon. The bike frame, motor, and battery are tougher. But this is what matters, the parts selection and the assembly. Many people would be at the mercy of a Chinese factory. Are these guys?
If there are limited costs for promotion and sales, this business model has advantages. If the promoters can actually make a decent bike, word gets around. Great numbers so far.