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From an FT article a couple of weeks ago: "the motors and batteries, manufactured by an Austrian company called Vivax, can already be bought through numerous dealers in Germany, Austria and the Netherlands."
It's not cheap though: http://www.vivax-assist.com/en/produkte/vivax-assist-4-0/vivax-assist_4-0.html
Does anyone have a link to such a product that one could buy?
I've clicked around on the interwebs and it seems the technology is more mature than I initially thought.
Competitions aside, I like the idea of being able to retrofit motors to a bike you currently own, to enable older riders to continue commuting trough periods of ill health for example.