Could you imagine a car that consumes only one liter fuel for 62 miles? This new car, well actually still a concept, has been reported in Frankfurt auto show, this car is developed by VW and it uses one liter of fuel—about a quarter of a gallon—to propel a car for 100 kilometers, or 62 miles.

The one-liter car’s fuel economy translates to almost 240 mpg, and VW has had such a car in its sights for some time now. In 2002, outgoing VW CEO Ferdinand Piëch, now head of the company’s supervisory board, drove a cigar-shaped prototype from VW headquarters in Wolfsburg to a shareholders’ meeting in Hamburg.

Now the idea of the one-liter car has been revived and it becomes VW’s biggest news at the Frankfurt auto show which is the L1 concept, a prototype that “is near to production” and “will be manufactured,” the company says. Three ingredients were needed to make it happen: a supremely efficient powertrain, great aerodynamics, and lightweight engineering. With L1, any fuel price increase wouldn’t be a problem then.