Yes. However lets consider this: If it meets 80% of the population's 100% needs then its good enough for me. Imagine a ~60% or so reduction in co2 emissions world wide. Sure 20% of people still need their big trucks, but at least not everyone. Not to mention shaving 1000 pounds off the weight of the car not only gives fuel gains, but lowers power requirements to move that vehicle. Now I was going to say... take that, combine it with tesla's engine, and now you have potentially a long-range vehicle, a vehicle that can already do 300 miles on a charge and potentially a gas engine that can charge it up so you get a nice and unlimited mileage as long as you refuel.
It is not likely that a hybrid car with no direct propulsion from the combustion engine will be 1000 pounds lighter than a comparable conventional car, even if its combustion engine weighs next to nothing. Batteries are heavy, and this type of hybrid needs more of them than the more common type that uses electric to augment the power of a combustion engine.
I'm not saying this won't be an improvement. I'm just saying some of the claims seem a little extravagant.
Even if you discount the batteries entirely, 1000 lbs seems a bit high for the weight of an engine (or even engine and transmission). I suppose maybe a big block V8 with a very strong Ford pickup transmission could weight that much; but it would be more fair to use a figure for the weight of an I4 engine with front wheel drive transaxle, which would probably closer to 600 lbs than 1000.
