Looks like a glorified, new wave golf cart.
That's their market.
Looks like a death trap to me too, and comparing this to a motorbike?
It looks like it has the maneuverability of an egg with wheels... ready to tip over if you make a quick move.
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You can go
HERE for a rendering of a concept sketch for what it'd look like.
The images we're seeing is essentially the shell. Its like looking at a car without any of the paneling, etc on it.
In regards to tipping, it in general shouldn't happen. From what I've read from people that have ridden in it it feels amazingly stable and actually less forces feeling like its exerted on you during acceleration or deceleration based on the physics of it. It functions off of a lot of the same mechanics as the Segway scooters, allowing for apparently a near 0 turning radius and amazing balance.
Their hope is to demo this out in cities that have dedicated bike lanes that would allow for this to be used.
I applaud GM for trying something new. I think the issue with this, and the Segway's, as Gottahurt stated is that it really takes a good bit of community planning to make these work on a wide basis.
Benefits of this over a Motorcycle? Well, a few things. First, it seems it'll get good gas mileage. Even my little 250cc Cycle that I have gets 80mpg. This is reportedly going for 200. Additionally, it'll have a roof making it likely far better for a variety of weather conditions. The passanger area doesn't seem to be more uncomfortable than the main compartment or add any difficulty to riding.
There's benefits of the motorcycle over it as well, but I think it does have some pluses over it.
They're reportedly shooting for a price of about 25% of what a standard car would cost.
Its unique, and innovative. I do think its something that GM should've been making an attempt for years ago, instead of now while they're scrambling.