Well hydrogen power is nothing new. Its a developing technology.
Unfortunately the technology to get hydrogen from water is still undeveloped. Its moved on a little from electrolysis. Its actually twice as efficient as say burning coal to create electricity, and there was natural well's for gases such as hydrogen.
Also, hydrogen fuel is actually a more efficient fuel to use in a car, with less pollutants, and this over weighs its energy loss in creating hydrogen in the first place.
A hydrogen fuel cell actually creates electricity. Basically a reversal of the electrolysis process.
Regardless, you'll never get a car you can pour water into the tank, expect it to create hydrogen for free, then get the engine to run on it.
Simple physics laws state that you will never get more energy out of something than put in...
A more interesting (truthful) fact though is that hydrogen is 14.4 times lighter than air
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