All your answers are here: http://en.wikipedia.org/wiki/Air_car Aircar won't work very well because air storage, even at very high pressure (4000+ PSI), is not an efficient way of storing energy. The only possible reason to use an Aircar is if it is very cheap to produce the drive train (engine & transmission; actually no transmission is needed) - but a conventional gasoline powered drive train is already fairly cheap to produce.
Tata has produced millions of automobiles and is fast becoming an excellent niche player. They probably have a long way to go before completing this project and certainly would not be spending hundreds of milllions on a flawed concept. They just bought Jaquar from Ford in order for the world to consider them a serious player. This car will be in other developing countries by the millions long before being sold in the US because of all the costly add ons that Americans usually want in a car, and the bullshit US lawyers. Most people in the developing world just want a low cost means of mobility. Kudos to Tata. They are certainly trying harder than US companies.
From what I read on this site, the Jews control the Goverment, seems like they might like an oil subsitute.