With a click on a smartphone, the experimental “Armadillo-T” electric car made in South Korea will park itself and fold nearly in half, freeing up space in crowded cities

South Korean ‘Armadillo’ car folds up for easy parking

1:39am EDT

By Hyunjoo Jin

DAEJEON, South Korea (Reuters) – With a click on a smartphone, the experimental “Armadillo-T” electric car made in South Korea will park itself and fold nearly in half, freeing up space in crowded cities. The quirky two-seater, named after the animal whose shell it resembles, may never see production but it is part of a trend of developing environmentally friendly vehicles for urban spaces. The car can travel 100 km (62 miles) on a 10-minute charge and has a maximum speed of 60 km per hour (37 miles per hour). When it comes time to park, the rear of the vehicle folds over the front, almost halving its body length to just 1.65 meters (65 inches). “They can be parked in every corner of the street and buildings, be it apartments, shopping malls or supermarkets,” said Suh In-soo, a professor at Korea Advanced Institute of Science and Technology who led development of the car. Suh did away with rear-view mirrors by adding tiny digital cameras that show the back and sides of the car on a flat screen on the dashboard. A Windows-based computer system communicates with the driver’s smartphone and enables self-parking. The Armadillo-T cannot legally venture on to the road in South Korea because it does not meet certain mandatory criteria, such as withstanding crashes. Suh said South Korea should relax rules for micro cars, exempting them from crash requirements because of their relatively low speeds. A video demonstrating the prototype has been viewed more than 780,000 times on YouTube. (here)

http://www.youtube.com/watch?v=8DoZH7Y-sR0

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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