Developers at the Massachusetts Institute of Technology are giving gas to an idea they hope will reduce traffic congestion and parking woes, CNET.com reports.

Click here for the full story at cnet.com.

Click here to view photos of the City Car.

Lithium-ion batteries would power the City Car, which would be able to be collapsed and stacked like a grocery cart, with six to eight of the vehicles fitting into one parking spot.

The two-seater would weigh between 1,000 pounds and 1,200 pounds and is being designed as a shared car that someday may be available through kiosks around a city.

A prototype is slated for 2008.