It seems interest in the development of electric cars has really picked up steam in recent months, especially in Japan. A research team at Tokyo-based Waseda University has manufactured the ULV [JP], a one-person electric vehicle with a number of selling points: it’s cheap, it’s small and light (72.6kg), and it has a decent driving range (80km).

The idea was to create a compact vehicle that actually looks more like a bike than a car. According to the creators, the ULV (“Ultra Lightweight Vehicle”) needs four hours to be charged. Each charge costs just $0.40 – 10 times less per kilometer than the Toyota Prius (which is, obviously, much bigger).

The mini car is powered by a 400W motor and can drive as fast as 40km/h. Waseda University is offering customized versions of the ULV to small business owners, advertisers, event organizers, and other target groups.

Here’s a video showing the ULV in more detail: