I agree. This obviously isn't the ultimate alternative fuel vehicle, but this process has to start somewhere. Yes, it's expensive, yes it's hard to justify on pure economics at the current gas price of $3/gallon here in the US. But $3 gasoline isn't going to last forever. Last summer, before the economy crashed, we had $4.50 gas, and once the economy cycles back and demand for oil goes back up in the face of flat or declining world oil production, prices will likely climb even higher than that and the economic balance point will change. This car may be coming out a little before its time, but someone has to take the first step in this direction; it just happens to be GM, who everyone loves to hate right now.
Of course GM could totally botch things up like they did with the EV1, only time will tell if they learned anything from that and their current bankruptcy.