As populations grow and continue to migrate into cities, transportation has become an issue within congested cities. Less than half of the inhabitants of New York City, for example, even own a car. It just doesn't make sense to own one when the distances traveled is short while traffic and parking are impossible.
The folks at MIT Media Lab demonstrated this half-scale vehicle to TheNextWeb at the Media Evolution's The Conference. As you'll see, this solves two of the three major problems with intra-city travel - ownership (they can be shared) and parking (they fold). Traffic is still a challenge, but two out of three isn't bad. Hopefully, we'll see a full-size version rolled out soon.
