When it is parked it actually automatically folds so you don’t have to do anything.  In addition the wheels can configure circularly and do what they call an o turn to cut down on your turning radius.  And think of how this might integrate into other car related services like ZipCar.  You can already rent an economy car by the hour with ZipCar but their biggest challenge is space in metro areas.  If this type of car was added to their fleet they could likely double their capacity thus reducing further the need for automobile ownership.

I recall Aptera Motors had a decent run at making a fuel efficient vehicle although it was not foldable which is an entirely different ball game.  How much would one of these things go for if it was fully developed?  And I also wonder would there be any fuel efficient or types or green credits for using such a vehicle.  We look forward to seeing more from the minds at MIT and this is another incredible step towards forward thinking transportation.