"Though the concept vehicle designed by Nicholas Holland looks like a bike, it actually is a two-wheeler vehicle that features the front wheel as the key driving component and utilizes an intense magnetic field produced by the giant loop passing through the front wheel. With the forward and backward movement, the field spins the wheel and also rotates the axis when steering. By using the magnetic field , this vehicle reduces the friction and makes it tremendously energy efficient. The compact and ergonomic shape of the vehicle has made it a convenient personal commuting solution on busy urban streets."
Via: Future Transportation