Detroit-based EcoV Electric wants to prove that slow-and-steady does indeed win the race when it comes to low-cost utility electric vehicle. The company has been talking about its EV only for seven years now and says it is finally almost ready for production. The company recently posted a two-minute video (yes, available below) that explains the single-charge range of up to 40 miles and, most importantly, a possible price of just $12,000. The company says the car will pay for itself in about a year in the form of reduced refueling prices, thanks in part to an electricity cost of just 50 cents to charge up.

To our eyes, the vehicle design isn't exactly a work of art, but the company says the focus should be on the utility factor. The EcoV EV can be reconfigured as a four- or six-passenger vehicle as well as a pickup truck SUV. Possible uses are parking-enforcement vehicle and delivery vehicle. EcoV Electric also says the vehicle will be constructed with a full roll cage and crash-test plans are in the works.

Led by ex-General Motors engineer Richard Marks, EcoV Electric last crossed our radar in 2010. At the time, the word was that the vehicle would have a top speed of 25 miles per hour and a single-charge range of between 25 and 40 miles. The company started making noise in 2006 and a year later put out the call for potential investors. After all these years, you can check out the new EcoV video below.

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