They claim to have a 400 watt hours/kg battery that they have produced and is ready for production, or at least will be ready for production in a year and a half. So I'm guessing they already have the batteries built, but don't have a factory to produce them at industry numbers.
They say this more than doubles industry energy density and halves the cost, but I'm betting they really mean that doubling the energy density will halve the cost of the battery, not that it's a X4 gain. Still, that's a very significant jump forward and affects all kinds of things, not just EVs. You could use the same batteries to build your house sized UPS also.
http://www.smartgridnews.com/artman/publish/End_Use_Electric_Transportation/A-cheaper-EV-battery---for-a-300-mile-range-EV-4531.html
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