Tesla’s new balance bike for children costs $225 with orders opening July 31. Lightweight magnesium-frame bike targets kids between two and five years old. First orders are expected to begin shipping in late August. Tesla has expanded its ever-growing collection of lifestyle products with something aimed at its youngest fans. The automaker’s latest creation is a $225 balance bike for children, and it doesn’t go on sale until July 31. Judging by the company’s track record , it may not stay available long. It’s modern, angular, and surprisingly nice based on the feature set and materials. The balance bike is intended for children between two and five years old and features a lightweight magnesium frame finished with Tesla branding. The company says the design includes an adjustable seat with five height positions, allowing the bike to grow alongside its rider as they gain confidence before moving to a pedal bike . That seat is one of the coole...