A battery powered C172 may well work for 1hr training flights in the battery endurance sense.
However the overall economics will be a different thing. Nobody has got anywhere near 1000 cycles especially with rapid charging. Anybody with experience of laptops, model planes, etc, will know this. You get 100-200 cycles out of a LIPO battery and it is going downhill. And this battery won't be a £100 LIPO
It will cost many thousands. The
real life will be a major cost factor.
The motor and control electronics are relatively trivial and could have been done 20 years ago in pretty much the same way as today. But even there, the reliability won't be 100%. It could be very high indeed, but there is very little electronics expertise in GA today. It looks like the combined might of Lycoming manages to knock up an electronic ignition box not incomparable to ones I used to build for Yamaha bikes in the 1970s.
If I was running a school I would look at this seriously but only on a "pay per flying hour" basis so the vendor would be forced to back up his battery life and other claims. After the Thielert fiasco, I can't see any flying school owner doing much else...