Check out the latest Magpul creation. It is a folding carbine. Similar to the Ares FMG and PP-90. It appears to use some glock parts uses the Glock action, magazines and laser systems.
A couple of video demostrations:
Some photos from GlockTalk.com:
It looks very cool!
Compare with other FMG type firearms
The original Ares FMG which was designed by Eugene Stoner:
the PP-90, designed by the KBP design bureau in Tula:
the Ukrainian Goblin
And although very different the Kel-Tec SUB-2000 (this folds for storage, not rapid deployment).
According to this thread, it is called the FMG9 and Magpul do not have plans to put it into production, at this point it is just a prototype… although I am sure James Bond will get his hands on one for his next movie!
Another video demo
UPDATE: From ar15.com:
The advantage to the FMG9 over previous versions are…
1. One button, spring loaded action.
2. Light weight, color coded plastic (can be molded as a non gun color)
3. Closed bolt, safe action (others were open bolt SMGs, ours can be carried with a round in the chamber).
4. Proven Glock action with stock Glock factory magazines and laser systems.
Hat Tip for the update: Cryptic