It’s a frustrating fact of life. Some of us are tardy. Constantly late for work, late for a date, late going to bed, late for work… again.

So how about this for a potential investment opportunity- the electric bicycle.

It’s an environmentally friendly and health conscious mode of transport that could end the days of office workers sitting in a corner sweating profusely and exuding a rich body odour smell of ‘I-just-got-out-of-bed-30-minutes-ago-and-ran-all-the-way-to-work-today. Again’.

The 2009 start-up ‘Pietzo’ (based in Bedford, Massachusetts) believe there is a critical need to reduce greenhouse gas emissions and ease the constant city traffic congestion and parking problems. The bikes work on energy efficient rechargeable lithium batteries, and offer a variety of riding modes, ranging from several forms of electric assisted cruises to old fashioned unaided pedalling.

A commuter’s dream and an entrepreneur’s route to fame and glory?

Well, start checking your bank balance and begin number crunching. While electric bikes could be an exciting, innovative product ready for major investment, they are certainly not cheap, with prices set between $1,299 and $1,899.

Maybe that’s a small price to pay though. According to Pietzo, electric bicycles are already selling like hot cakes outside of the U.S., with more than 22 million sold in Asia and Europe last year. The Light Electric Vehicle Association (LEVA) predict 2010 U.S. electric bike sales will double from 2009 and that by 2020, 40% of U.S. bike sales will have gone electric. EU sales are expected to reach 1,000,000 units by the end of this year.

A brilliant start up concept? Well it appears to be the guilt-ridden brainchild of someone who likes the notion of getting fit, but essentially cannot be bothered. It’s an idea that could only have been dreamt up by a nation ridden by obesity… That said, if it gets me from a to b in double quick time and saves me from receiving my marching orders for perennial lateness (and sweat stained shirts), I’ve got my mind made up now- this eccentric idea has my vote.