Motor Development International have been developing compressed air powered vehicles for 20 years, they licensed the technology to Tata in 2009 who announced production last year and confirm deliveries to begin in 2012 in India.
The miniCat, a 3 seat vehicle has a maximum speed of 60mph (100kph) and a range of 180m (300km), about the same speed but with 6 times the range of hybrid vehicles running on pure electric power or 80% more range than the Nissan Leaf.

The car can be re-filled by compressors using similar technology as that for aqualungs and it takes less than 3 minutes for a 'full tank'
Far less polluting than battery powered vehicles the miniCat's production cost is less than the battery pack for a Leaf and it's running cost is predicted to be 1/10th of an equivalent sized battery/hybrid/internal combustion alternative.
Youtube Linky