The article eventually admits that kW/kg is being 3X improved. While rather aspirational, that at least requires no handwavium-plated perpetual motion machines.
Whether their 3X improvement is measured relative to fairly state-of-art motors...vs. some more-weight-is-great motors from a large freight locomotive...um, well, it doesn't say. In any case, the maximum energy density offered by batteries - vs. aviation fuel - rules out "like regular airplanes, but..." skies full of electrical pies.