I know they're toying with this type of tech for the control surfaces of UAV's.. but adapting for vehicles, even something like F1, the cost must rule it out in the short to medium term.
Sound application other than cost though - I guess it would work in a similar way to adaptive steering; speed dependent, providing the minimum drag at low speeds and increased downforce as you get faster. In a non-performance application, maybe it could be used to adapt body shape in accidents, provide a larger crumple zone or move the skin away from things like engines in the event of a collision with a pedestrian.
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