This patent runs for 14 years so when the car will come or if is uncertain other than it would be somewhere in that 14 year window. The Up Buggy is trying to be fun and affordable similar to a VW Beach Buggy.
The car certainly seems like a good idea. Affordable, light, nimble, fun, and with good styling. What's not to like? The only thing stopping production is that pesky money problem. VW is currently conducting research studies into how many they can sell a year. It is a business after all, emotional appeal only goes so far.