I would rather they just picked a new name for the company. Reviving an old brand that has no relationship to the new company just implies aspects of the company that don't exist. Emerson and Packard Bell radios and a few others have done this in the consumer electronics industry. It, in my opinion, gives false brand value.
The car sounds interesting and looks pretty sharp. I think they've done a good job in targeting. As a "toy", it will likely be more successful than if it were trying to replace an ordinary family car. People buying it as such don't have to worry about commuter range and can plan their outings based on the limits of the car.