07/25/2012 05:56 pm ET Updated Jul 25, 2012

Faraday Porteur's Electric Bike Imitates Schwinn In Nostalgia Play

Looks can be deceiving. For proof, you need look no further than the Porteur bicycle by Faraday, a battery-powered bike that looks like your dad's old-school Schwinn.

Faraday founder Adam Vollmer is fundraising for the company's first line of bikes on Kickstarter. The campaign has zoomed past its $100,000 fundraising goal with 16 days to go. And Vollmer, like many entrepreneurs on Kickstarter, has started soliciting ideas from potential backers for additional features, like outfitting the bike with Bluetooth technology or an app that tracks distance.

Currently, the bike features a two-tone leather detail, a detachable front rack and a silent electric motor that helps riders conquer tough terrain. One 45 minute charge gives riders 10-15 miles worth of pedal assistance.

The Porteur is far from cheap: Kickstarter backers are paying $3,500 for early models, and the bike is set to retail at $3,800.

But the Kickstarter community has been especially receptive to battery-powered bikes and boards. The Folding Electric Bike for Commuters raised nearly $26,000 late last year and the Zboard, the world's first weight-sensing electric skateboard, pulled in a whopping $278,767 earlier this year.