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My first thought is: given they have only a 60-day bridge of funds from the administration, shouldn't GM be focusing on their restructuring? In reality, this project has been on the drawing board for 18 months, before GM's emergency survival loans from the government. This new vehicle probably isn't going to sell in huge numbers, at least in America, based on its specs, though.
The GM-Segway PUMA will have a maximum speed of 35 MPH, and a range of 35 miles. On a positive note, it will be enclosed (more or less), as opposed to the original Segway (below). The vehicle will also have vehicle and pedestrian avoidance built-in (which is GM's part in the development).
You'll note that as pictured, the current version of the PUMA has training wheels to be used when the vehicle stops at a light.
GM and Segway appear to be realistic about the project's chances, noting that while the PUMA is being unveiled in New York, the PUMA might appeal most in places such as India and China, where traffic is so densely packed cities walking is faster than driving at times.
No timeline or projected price was given, though GM research chief Larry Burns said owners would pay about one-third to one-fourth of the cost of a traditional vehicle.