That makes sense to me.
I’m not for electric cars.
But an electric motor is 90+% efficient.
An ICE is approx. 24% efficient.
Too bad there’s so much other crap to complicate it though.
To be quite honest, I sorta agree with the Toyota naysayer in that Lithium electric cars will only ever be a bleeding edge product, sorta like the videodisk. The CD/DVD product (longer lasting, but not indefinitely lasting) will be ultracapacitators. But LI+ is still a useful step towards that.