C-1 electric vehicle

I came across this on the net, and was wondering what fate Nigeria has if more of this kind of technology multiplies..especially as it will affect the demand for our crude oil...

The C-1 basically relies on electronically controlled gyroscopes so that it remains nicely balanced even when you are at a red traffic light.The Lit C-1 is a electric urban vehicle, combining the size of a motorcycle and durability of a car. The C-1 uses electronically-controlled gyroscopes to remain upright even in the case of an accident. It can be charged up in six hours, has a top speed of 120mph, and the battery provides enough autonomy for 150 to 220 miles. It will be available in 2014 and will sell for $12,000 to $16,000 (USD). Check out the video.

Designboom : Via : TechCrunch