Improvised Explosive Devices (IEDs), land mines and RPGs (or, what we like to call the lethal trifecta) have plagued Coalition Forces--and primarily the U.S. Army and Marine Corps (USMC)--since the start of the Iraqi insurgency/guerilla war. More recently explosively-formed penetrators a.k.a. explosively formed projectiles (EFPs) have been wreaking some serious havoc on Coalition troops. It's this lethal explosives threat trifecta (IEDs + EFPs + RPGs) against which the Urban Fighter is designed to protect. However, instead of protecting U.S. troops (and other Coalition Forces like the Canadians), it's going to protect Israel Defense Forces (IDF) soldiers/warfighters in their own back yard against their immediate enemies, who also use land mines, IEDs, EFPs and RPGs (Rocket-Propelled Grenades).
The wiry add-on armor disrupts rocket-propelled grenades.
I detect no evidence of a V-shaped monocoque hull (basic to the design of most MRAPS). As light as it is compared to an MRAP, I would wonder what keeps it on the ground during an explosion down below.
The story goes on to describe a passive-reactive armor kit.
Defense Update had an earlier story describing the operation of the hybrid armor, for which add-on kits have been developed.
Update: Another story from Defense Update about Rafael's (co-developer of the Golan MRAP) add-on armor, given the name M-TAPS.