I haven't found anything about this on the web, and it certainly sounds like a hoax, but it wasn't presented as one. This story is in the Summer 2005 issue of Scottish Life magazine, in their news roundup pages.
Top Secret Car Stolen in Glasgow
A nationwide hunt is underway to recover a $36M "invisible" car which was stolen when a bungling Ministry of Defense official left it running while he went into a Glasgow liquor store to buy lottery tickets.
[...]
The car uses technology developed by Scottish scientists in which each cell of the paint is either a digital camera or a high-quality projector. When a small electrical charge is applied to the paint, the cameras and monitors switch on and anyone looking at the car sees only a picture of the background.
Top Secret Car Stolen in Glasgow
A nationwide hunt is underway to recover a $36M "invisible" car which was stolen when a bungling Ministry of Defense official left it running while he went into a Glasgow liquor store to buy lottery tickets.
[...]
The car uses technology developed by Scottish scientists in which each cell of the paint is either a digital camera or a high-quality projector. When a small electrical charge is applied to the paint, the cameras and monitors switch on and anyone looking at the car sees only a picture of the background.