Lit Motors has been steadily developing its self-balancing electric-motorcycle concept over the past four years, calling it the "future of transportation."
With a motorcycle footprint and car-like steering, it's intended to combined benefits of both car and bike.
The company doesn't appear any closer to putting its electric bike into production, but it released a new video (via Autoblog Green) showing its capabilities.
In it a female test driver--who has no motorcycle training, Lit points out--gets in, negotiates a slalom, and parks with the vehicle performing as intended.

Currently code-named “C-1”, this vehicle is the future of transportation. It combines the romance and efficiency of a motorcycle with the safety and convenience of a car, creating the ultimate urban vehicle. Fully-enclosed and selfbalancing, it protects the driver and passenger from the elements and provides car-like safety with an intuitive, car-like interface. The rear area is large enough to accommodate a passenger, or about as much cargo as you can carry on a plane. The C-1 is considered a motorcycle, allowing the driver to split lanes and easily slip through traffic, cutting up to 50% off commute times. And once at their destination, the driver can park in the tiniest spaces—even motorcycle-specific parking.
The C-1 is 100% electric, with a top speed of 100+ mph and a range of up to 200 miles per charge. It uses high torque in-hub motors to accelerate from 0-60 mph in about six seconds. Charge times depend on voltage, from six hours on 110/120V to four hours on 220/240V to less than a half hour (to 80%) at a 400-500V quick charge station.
The “secret sauce” of the C-1 is a patented gyroscopic stability system. Using a pair of flywheels spinning at 10,000+ rpm, gyro system exerts 1300 ft-lbs of torque to control the tilt and lean of the vehicle. This allows the C-1 to lean itself into and out of turns, and is powerful enough to keep the C-1 upright even in a collision.

The C-1 is self-balancing, using two gyroscopes to keep the vehicle upright when stopped. The C-1 has “landing gear” which are deployed when parked to keep the vehicle upright. The gyros are fully controlled by the vehicle, allowing the C-1 to lean itself into and out of turns, maintaining stability at all times. And yes, it has a reverse gear!
The C-1 is the ultimate urban driving solution. Since the C-1 is classified as a motorcycle, it allows you to lane split, ride two abreast in one lane, use the HOV lane, use motorcycle parking, and the many other advantages motorcycles have. They estimate it will cut most commute times by up to 50%. If you live in the city, this could be your primary vehicle: easy to park and slip through traffic, with services like Zipcar, Getaround, or traditional car rentals available when you need a larger vehicle or an extended road trip. If you live outside the city, this could be your primary commuting vehicle, with a larger "family car" at home. This allows the commuter(s) in the family to travel in, around, and out of the city easily and efficiently, saving money and time every day.

The C-1 will have a top speed of 100+ mph (160+ kph), 0-60 mph (0-100 kph) in <6 seconds, and a range of 200 miles (320 km) per charge. Dimensions: 800 lbs. (360 kg) curb weight, 112" (2.8 m) long, 55" (1.4 m) tall, 40" (1 m) wide.
The C-1 is fully-electric, using high torque, direct drive, in-hub motors. This allows for a smaller, simpler body and quick, efficient driving. Since the C-1 is so small, solar panels would not generate much electricity. However, they're looking into that option, if it can be made cost-effective.
Batteries are not their core technology; they're using the best available technology, and designing to be able to easily integrate new technology as it becomes available. they're currently using lithium iron phosphate batteries. Because of the C-1's small size, they only need an 8 kWh battery pack, which is supplemented with their patented KERS regen braking system, giving another virtual kWh. Charge times will be 4-6 hours, depending on charging voltage.

The C-1 will also be able to use higher voltage quick charge stations, giving an 80% charge in less than a half hour. As with all EVs, the battery pack will eventually need to be replaced. However, since it is 1/4 - 1/10 the size of a typical EV battery pack, the replacement cost will be much, much more affordable.

The C-1 is 100% street legal. At first, a motorcycle license will be required – but you can take that test in the C-1. They are working to have the C-1 recognized as a separate class of vehicle.

The C-1 will cost approximately $24,000 USD, without tax incentives. With current tax incentives, this could be as low as $19,000 for California drivers. Check with your local tax/licensing agency to determine tax incentives in your area.