Car That Runs On Water

I saw a clip of a car created by a Japanese company that runs on plain water. Somehow, electrons from the hydrogen atoms in water molecules are harnessed to create electricity. I wonder how expensive this is and how easy it might be to put cars like this into production. Peak oil? See it here:

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=8304856&ch=4226714&src=news