Imagine an electric car that will recharge in 10 minutes

The kids at MIT are developing an electric car (really just a hacked Mercury sedan) that will go 320km (200 miles) on a charge and fully recharge in less than 11 minutes. They've already converted an old Porsche into an electric car.

Two issues: 1. The price would be high due to the expensive type of battery used ($80,000 so far). 2. There is no such recharge system in existence that would provide the power needed to recharge this car (350kW – enough electricity to power 20 houses at once).