A lighting apparatus useable with a bicycle or other manually operated vehicle includes first and second housings, as well as a connection mechanism by which the first and second housings are attachable to and detachable from each other. A central processing unit and at least one power source are receivable within the first housing, while the second housing includes a light emitting element that is adjustable to multiple angular positions relative to the first housing to provide illumination at different emission angles. The second housing constitutes one of a plurality of second housings that are interchangeable to provide for varied lighting conditions. The connection mechanism allows relative pivotal movement between the first and second housings and permits electrical communication between the light emitting element and the power source when the first and second housings are attached to each other.