Sure, if you only travel a handful of miles and you don't mind dropping $20k+ on a car with that kind of range, it works. But it isn't a panacea.
If you're banking on battery technology improving, don't. Battery tech marches very slowly.
http://takingpitches.com/2012/09/22/elon-musk-the-role-of-an...
He makes it sound as though the raw material cost is not the problem.
Also, Deutsche Bank in Dec 2010:
http://bioage.typepad.com/files/1223fm-05.pdf
Relevant bit:
"Based on discussions with industry experts and several automakers, the DB Auto team has lowered its advanced lithium ion battery cost projection by about 30% for 2012. Current prices have fallen from $650/kWh+ in 2009 to about $450/kWh now, and DB’s forecast is the price to fall at about a 7.5% CAGR from 2012 through 2020 to about $250/kWh."
And lots others on Google. I don't know enough about it to judge who is credible but I do believe that laptop batteries don't cost as much as they used to. It's not like Moore's Law, but I think prices have been falling pretty steadily.
Except, aren't the battery packs a very significant portion of the value of the car? I don't see how you will be able to replace them cheaply enough to come out on top, unless you use inferior battery technology and settle for two-digit range.