This is the T.27 City Car, designed by Formula One designer Gordon Murray. It features a Zytek Automotive electric drivetrain (probably similar to the one in the Smartfortwo EV) which will propel the vehicle to 105 km/h and give it a range of 80 – 100 miles.
A running prototype is scheduled to hit the asphalt in April next year, no news on pricing yet. The thing is based around the rather cools T.25 City Car which is a conventionally powered model from the same company.
The simplified assembly process means that the manufacturing plant can be designed to be 20% of the size of a conventional factory. This could reduce capital investment in the assembly plant by approximately 80%. Yet the flexibility of this assembly process means that the same factory could be used to manufacture different variants.