Photos: MiniCat car runs on compressed air

Negre, a former Formula One racecar engineer, sits behind the wheel of the MiniCat. One of MDI's backers is Indian automotive giant Tata Motors, which last year invested 20 million euros in the European company, according to a Reuters story from Monday. Tata plans to begin building MDI-designed cars sometime this year, according to Reuters.

Coincidentally (or not), on Thursday Tata plans to unveil its "people's car", a vehicle with minimal amenities and a bargain basement price. A story in Monday's New York Times reported that the car would be priced at about $2,500, for which a buyer gets a weak engine, tiny trunk, a single windshield wiper, and no radio, air conditioning, or power steering.

Pricing for MDI's own cars, meanwhile, is expected to start at about 3,500 euros, with some models ranging up to about twice that price.