They aren't the only people thinking along these lines, however.  Volkswagen had a similar project - they had a turbodiesel two-seater with a carbon fiber body.  Theirs was only rated for ~260 mpg, and this was something that they did build and field test.  They didn't have any hybrid technology in there though.

They called it the '1-liter' car, meaning it would burn one liter of fuel to go 100 km.  They did unfortunately abandon the project:

http://www.greencarcongress.com/2005/04/vw_abandons_its.html

The problem for VW was the cost:

But Volkswagen now says that it could not produce an ultra-economical car for less than €20,000 ($25,900)--too expensive for its target market.

I gather that the carbon fiber was the deal-killer here.  You need it to make the vehicle lightweight, but the stuff is expensive.

Now if this company (Accelerated Composites) has come up with a way to reduce the cost of making carbon fiber components, there could be value here if they were to simply license the technology to someone like VW who has sufficient experience to make an entire car.

 Judging by the lack of content on the website, it's understandable that our project doesn't seem further along than it is.  Lots more photos, photos of our destructive composites testing, our white papers, simulations (CFD, FEA, et al), status of our patent applications, and more recent pictures of the prototype will be posted as time permits.

Thanks for all of the input.

Steve
AC