Lithium Ion batteries or fuel cells for cars?

At the Geneva auto show, Bob Lutz, GM's new product guru, said lithium ion batteries might make a 300 mile range electric car possible. Lutz then said "If we get lithium ion to 300 miles, then you need to ask yourself, why do you need fuel cells?" Good point. The WSJ article did not talk about costs of lithium ion, service life, and the fire risk. There is video kicking around the internet showing a lithium ion powered laptop bursting into flames on a conference room table.
Toyota president Katsuaki Watenabi expressed concern about fuel cell costs, and the availably of hydrogen to fuel them. He said fuel cell cars are unlikely in the next ten years.
On the other hand Daimler AG's president Dieter Zetsche (Dr. Z) announced plans to product a fuel cell car in limited quantities by 2010. So not all hope for fuel cells is lost.