Kai Teng Lim's innovation is based on the premise that grand prix paint jobs are too cluttered with advertising logos.
He told the 'TVNZ' publication: ''I (thought) why don't I apply the paper screen wrap around the whole car and make (it) into an electronic billboard.''
The technology allows moving video images to be broadcast on paper-thin sheets.
Lim claims that the idea will 'improve the visibility' of teams' sponsors, and reckons motor sport officials had already given it the 'thumbs up'.
''(They said) we haven't seen anything like this in our life.''