I saw Jim Kor speak a couple years back and have been following the project ever since. It is a daunting task for any start-up auto manufacturer, but this team has developed a lot of interesting research that will benefit fuel efficient cars of the future whether they get the Urbee to production or not. I'm hoping they do produce it!
For those unfamiliar, here are some numbers: 8hp, 130km/h top speed, 290mpg (US)/0.81 L/100km, Cd = 0.15
Here are more details of the project:
http://korecologic.com/
They are hoping to write a book about it (fundraising site):
Driving for Our Lives - a road trip through the Ecosphere by Jim Kor — Kickstarter
I'm thinking of getting a Mitsubishi Mirage - just to hold me over until I can get an Urbee (I don't think my '03 Focus can wait that long)