Yeah, that sounds great, except they never explain how much energy it takes to compress the air in the first place; after all, that energy is what will ultimately power his car, not the air itself. Sorry, hippies, but there's no such thing as a perpetual motion machine. The energy has to come from somewhere. This car was a cute idea, but it takes a lot more than just a cute idea and sharing a birthday with Jules Verne to rewrite the laws of physics.
(By the way, what are the chances that a minor fender bender could cause the car's air tanks to explode?)