It's a bit of a stretch to call this a new spin on hybrids... this idea (a "series" hybrid where only the electric motor propels the vehicle, rather than a "parallel" hybrid where both the engine and the motor directly drive the vehicle) has been around for years. Really though, it is an excellent idea that hasn't been exploited yet. It addresses the main negative issues with electric cars - lack of recharging stations on the road, long charge times and short range - which is critical for market acceptance. Combining this feature with a plug-in charging capability is quite powerful. There is still the issue of battery cost, though.
The other thing that would take some getting used to is having the engine roar away (and I'm guessing a three-cylinder, though small, would be quite buzzy [although they would probably tune the exhaust to make the thing as quiet as possible at the super-efficient speed it would run]) charging the batteries while you're stopped at a stoplight. But this is cool stuff... not too difficult technically (relative to a Prius), and do-able with existing technology. I'd definitely be interested - if they can keep the price reasonable.