A power generation system is provided configured for installation within a wheel of a vehicle. The system includes a stator having a plurality of face-mounted permanent magnets; and a rotor having a plurality of windings configured to rotate, with rotation of the wheel, in proximity to the permanent magnets thereby generating a current. The stator is mounted to a brake caliper of the vehicle. Also provided is a wheel-based vehicle display system including a light emitting diode (LED) array arranged on or within a wheel of a vehicle; a power source connected thereto; and a controller connected to the LED array. The display system is configured to display at least one of: textual information, visual images or full-motion video.