Sean Alexander linked to an article about the new Chevy Volt. This concept car works the way many of Smart's cars have been working for a few years.
The idea is that you have a gasoline engine that does nothing more than work as a generator for the electric motor. As a result the gas engine works at optimum efficency at all times. This allows for gas mileage as high as 60 MPG or higher. The other feature the Volt has is that it can be plugged in and run for 40 miles between charges without using the gasoline engine at all. This is truly the future of cars. It isn't totally getting rid of the gasoline engine, but just making it much more efficient

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