The Korea Advanced Institute of Science and Technology (KAIST) has introduced a new vehicle that can fold itself in half by simply pressing a button.

The Armadillo-T electric vehicle is capable of parking itself and folding nearly in half to help free up space in crowded cities and to fit in tight parking spots that a normal-sized vehicle probably wouldn't fit into.

"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, according to Reuters.

The vehicle can travel 62 miles on a 10-minute charge and has a max speed of 37 mph, according to Reuters.

Once the Armadillo-T is parked, a stabilizing wheel pops out from under the vehicle, and the back of the car the curls forward and up, similar to a real armadillo.

Suh said that rear-view mirrors were replaced with tiny digital cameras that show the back and sides of the car on a flat screen located on the vehicle's dashboard. Eliminating rear-view mirrors was essential to making the Armadillo work.

A Windows-based computer system was designed so that a driver's smartphone device can communicate with the car, which also allows the vehicle to park on its own without assistance from the driver.

"This car is ideal for urban travels, including car-sharing and transit transfer," said Suh in a press statement. "I expect that people living in cities will eventually shift their preferences from bulky, petro-engine cars to smaller and lighter electric cars."

Don't expect to see the vehicle on the road anytime soon however, as it's not even street legal in South Korea yet.

Suh said the vehicle doesn't meet certain mandatory criteria, like withstanding crashes, according to Reuters. He feels that the Armadillo-T should be treated differently compared to normal sized vehicles since it can't go over 40 mph.

"It will be sold in a niche market or a new market. Demand will start from places like golf resorts or amusement parks, as large carmakers tend to wait until their own market becomes mature first," said Suh.

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