The video brought a lot of questions to mind, but the link answered most of them for me. Here's a summary:

What exactly am I seeing? Apparently it is a lightweight car chassis with an electric motor, regenerative braking as in hybrid cars, rowing-machine style generator for replenishing battery and/or increasing motor speed, and 2 or 4 seats all with access to the rowing-style power generation.

How fast can it go? It seems that with multiple people actively working the generators plus battery-driven electric power while going downhill, it could approach or exceed 60MPH.

Why not just use a bicycle? The bicycle is 100% powered by the rider. This has an electric motor, and can be driven without using the rowing-action generation at all; or you can supplement speed or battery life by rowing to whatever extent you desire. Safety and stability at moderate to high speed would be much better than a bicycle or motorbike. It also seems to go reasonably faster than a bicycle, on average.

OK, so why not just use an electric bicycle / electric motorbike (very popular item in China)? I would say either could be pretty useful if you buy into the general idea. This car could comfortably transport more passengers and probably go faster, but simply due to weight it would be less efficient in general and particularly on hills. However, an electric bicycle probably wouldn't cost you $15,500.

So, all in all it looks pretty cool but I think it would have to drop in price quite a bit before it would be more practical than either a good ol' gas guzzling car, hybrid car, electric bicycle, or standard bicycle for any particular niche application.