A new technology on the energy front

Well, this sounds too good to be true, so I'm going to hold my excitement until I see some examples, but this technology could actually be able to replace the internal combustion engines in personal transport. These dudes in the US have designed a new type of battery that they claim could charge in 5 minutes for $9 (US) and would then power a car over a 500 mile journey. They also claim that this technology would deliver that power in a way that would " a 4 person sedan drive like a Ferrari", which isn't much depending on the Ferrari.
This technology would basically make hybrids, hydrogen fuel cells, and quasi-turbine engines obsolete all in one swift stroke. Still, it's not impossible, see for yourself:
CNN Money Article