While you may not have heard of the Spanish-made Hiriko Fold, it is actually a very serious endeavor supported by the Spanish government, MIT, as well as the European Commission, through its Portuguese president, Jose Manuel Barroso (a man whose name is mispronounced by everybody).
The Spanish government has already given the company, which takes its name from the Basque word ‘hiria’ (city), around €15.25- ($18.50-) million, which is still a long way short of their entire required budget of €71.75- ($87-) million. But why is the car called the ‘Fold’? Well, it does exactly what its name suggests - the two-seater EV folds up to take up as little space as possible (3 and a half can fit in an average parking spot). Also, with four-wheel steering, where each wheels turns up to 60 degrees, as well as its maximum range of 120 km (75 miles), 20 hp engine and 50 km/h top speed make it an excellent way to travel around the city.
The Hiriko Fold is mainly aimed at car-sharing operations, but it will probably be available for separate purchase, if the demand is strong enough. The company has already built twenty Folds for testing and certification purposes, and the final product will be launched in 2013, with an expected price of around €13,500 ($16,400) - still too high to make it a mass-market success, but cheap enough for a few people to buy it and enjoy its benefits.
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