The water is really not the fuel in this system. A battery or some other source of electricity breaks down the water to form this gas. The gas is then used for cutting metal or could be burned in gas engine. the added complexity and inefficency of the conversion and then burn process would make it unsuited for an automobile. However if you had a source of extra electricity this would be a good way to store the energy that you couldn't use right away. IE if you had a house with PV arrray or a windturbine and you had periods where you where creating more energy than you where using. use the excess to create this gas and store it in tanks for later.