No, it makes us laugh. I'll be very curious to see what sort of vehicle they build around the battery/capaciter. To get 500 miles on a 5 minute charge suggests the vehicle will be very small. The amount of energy needed to move an object is the same wether the power comes gas, electricity or hamsters. The laws of physics always apply.

Let's see, 1 gallon of gasoline produces 132x6 Joules of energy which is about 36,000 watts of power. For arguement's sake say a normal car gets 30 miles to the gallon, so to go 500 miles takes 16.6 gallons of gas which is about 59,9999.97 watts. However, gasoline engines are pretty ineffecient at converting power to movement so let's give the electric car 50% bonus and say it'll take only 29,999.98 watts to go 500 miles.

Hmmm, to get 29,999.98 watts from 220 volt household current means you are pumping 136 amps through your wiring. That'll lead to some pretty fireworks.

Sidenote: these are back-of-the-envelop calculations. Can someone double check them?

-Blast, who smells of crude oil...