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"If it takes longer than 10 mins to recharge or replace power, it's another lost attempt."

It wouldn't be so bad if it took a while to recharge if all you were doing was driving it in town. It supposedly takes between 3 and 4 hours to refill the tanks if you use the onboard compressor, or only a few minutes if you purchase compressed air. You could probably get a heavy duty compressor at home and charge it up a lot quicker than with the small onboard compressor, and I would imagine that you could probably get away with a good bit less than a full charge if all you are doing is driving a few miles to work and back in a day, less still if all you were looking to do was get the thing home for a full charge.

I basically drive my car to work and back and a little around town. Sometimes I'll take it to the lake house about 40 miles away, and once a year I have to go to a continuing education seminar that's always in a town about 300 miles away. I put a little less than 10,000 miles a year on it. My wife has the big SUV for hauling the kids around though so I could use it for long trips. With a standard two or three car family, I could see having a tiny little car just for town driving, even one that you can pretty much only "fuel up" at home. It wouldn't matter if it didn't go really fast or have long range capabilities. If it was inexpensive to buy and super cheap to fuel, it would be worth having just for town driving.

LOL! You just described an electric golf cart with two gears.

Your needs and requirements as you stated fit the bill for every alternative fuel vehicle that ever saw a production line, and they all died a lonely death.

For a larger market and economic stability from the manufacturers point of view an alternative fuel vehicle will have to match gas/diesel ease of refueling and mileage.

The concept makes economical sense, but nothing has been produced so far that the public cares for, is worthy of the money outlay, and can give a respectable day to day savings without relinquishing road safety.