Mythbusters tried to do this with a boat this will fail as well
Their boat had two compressed air tanks piped to a ball valve which fed a single pipe poked through the transom below the water line. There was no motor/propeller as such. When the valve was opened it blew bubbles at the stern with absolutely no forward progress. They were counting on generating thrust like a rocket but the design was a laughable failure.
As to the subject automobile, it is not unique. There was a design from India (the "Ta Ta" I believe). It had some clever features, they made provisions to use the motor as a compressor to eliminate the "charging station". They used the air w/o heating it so the exhaust was cooled well below ambient and was used to air condition the interior for free. The body design was akin to the smaller Fiat as opposed to the single front "barn door" Isetta like design. I haven't heard anything about production, the project probably died before launching.
Regards,
GtG