No, it’s not fully assembled. To save some space and expenses, the rear truck and the handlebar come detached from the rest of the Halfbike. Everything you need to get it up and running is in the box, including a manual and tools. It usually takes about 15-20 minutes for an untrained pair of hands; no special skills are required. For visual guidance or even just research, check out the assembly tutorial for Halfbike 3 here.
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