Using cameras and sensors, Nissan's literally named "Around View Monitor" records the surroundings and synthesizes them in realtime into a bird's-eye-view of your car, which it displays on the in-dash monitor. Slated to be released first in Japan, on the Elgrand delivery van, its prime benefit is clearly for drivers of windowless vans, but as the popularity of the back-up camera has shown, it may soon be coming to a minivan near you. To get the full effect, check out the vid on Jalopnik. [Far East Gizmos via Jalopnik]
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I don't think it's designed to prevent accidents at all. I wouldn't imagine this being implemented in traffic, it seems more for parking.