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 |  Apr 25 2011, 5:34 PM

Mini is following in the footsteps of Audi and designing its own line of bicycles. And in the interests of smallness, the bicycles are designed to be folded—perfect for today’s clogged cities.

The Mini Folding Bicycle features a lightweight aluminum frame that collapses in a matter of seconds: the crossbar, seat, handlebars and pedals fold into each other for easy carrying from a subway to the trunk of a Countryman. The entire bicycle only weighs 24 pounds and still manages to sport 8 gears, 20-inch wheels, mud guards, a gel seat, a cute bell, and a Teflon-coated chain that won’t get your suit dirty when you inevitably get tangled while trying to fold it up.

Like most folding bicycles, it won’t be cheap at 500 Euros (approximately $729), but it’s still cheaper than getting your Mini Cooper impounded for the 3rd time in a row from a tow zone.

Look for it available online and at select Mini dealerships in August this year. And if you can’t wait that long, click the jump for the press release and specifications.

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