I've had a Schiano folding bike for a few years, it was sold as the Tesco folding bike, Vertigo brand I think but everything came clearly stating Schiano. I think its just a Italian bike importer the bike itself seems to be a fuji-ta model often sold as Battle in Asian markets. They are the world's biggest bike manufacturer by volume. The quality of the bike is fine, good frame and decent assembly. It only cost me about £20 I think from Tesco direct as I think it was only around £40 and I had a £20 of clubcard points. I remember it being £20 and there was a 4x clubcard boost on but can't remember the exact way I got it to that price.
Looking at the 7 speed Nexus model, the Nexus 7 is actually a 9 speed mechanism with 2 gears mapped out from selection. It's actually more complicated and less reliable than the Nexus 8 and doesn't have the direct drive gear of the Nexus 8 however here it is combined with a front hub motor so the Nexus 7 gets a far easier life and should last many more years or thousands of miles compared to a standard bike with a Nexus 7. The Nexus 7 and front hub motor is just a brilliant combination. For sheer durability and reliability you can't beat 3 speed hub gears as the mechanism is so simple again paired with a front hub motor it is getting an easier life again. It should be exceptionally low maintenance and 3 gears in combination with a front hub motor should be enough for most people.
There is a huge amount of excess stock about now and some brands/importers may have financial issues because of too much dead stock not shifting so some will be forced to clear stock at cost or even below cost and this could be that situation. Alternatively it could be it just wants to get a foothold in the UK market and is loss leading to get its brand out there.
None of the ebikes around £400 appeal to me as a package but you can't question the amazing value of them.
