Building your own electric bicycle is a great project. It will really help you get some experience on working on electric vehicles, and have a lower budget as well.
Another advantage of an electric bicycle is that they are typically designed so that the pedals still work. So, technically, it's a hybrid! You can always pedal more to extend your range. Or, it there is ever a problem with the electric system, you have the pedals to fall back on. If all else fails, it's still easier to push than a motorcycle!
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