Very cool...
...and I see the conspiracy theorists are already trolling. If
anything kills this, it won't be "big oil" or the usual-suspect-list
bugaboos; it will be technical or economic infeasibility or
regulatory incompatibility.
What this appears to be is a highly efficient turbine engine, which
have been tried in cars before. Historically for these kinds of
engines, the advantages have been low moving-part count. But
the big disadvantages have marginal economy, low torque, noise
and heat dissipation. If they can beat those problems, combined
with existing hybrid technology this could be a genuine winner,
although I wouldn't expect to see it in mainstream cars for another
decade.