Cheap vehicles which are limited to 45 km/h have always existed, they were never popular in Europe. Make it 60 and it will be usable for city driving.
I assume the there are also less requirements from manufacture side, that makes it easier and cheaper to produce.
If it would be 60km/h you can not make it at this price point, because you are making a full car. And then there is no reason to limit it at all. They are already popular here, where I live and are much similarly priced or even higher because of the lesser requirements for getting around.
I can see it as perfect second car for city in my hometown and would buy it.
Aixam microcars are ubiquitous in rural France, providing independence for teenagers and the elderly. The Piaggio Ape is ubiquitous in Italy, providing quick and convenient deliveries in narrow medieval streets. Small, low-powered vehicles have an important role to play in the transport mix.
A bigger problem with these small cars is they lack practicality for bringing more people or luggage, and they're never cheap enough to make up for it when you can just buy a used car.
Also, the scooters and motorbikes might be part of the solution, and larger vehicles part of the problem.
https://www.thedrive.com/tech/19658/neighborhood-electric-ve...
This is something for San Francisco, not for jetting between its suburbs.
In Europe cities are small on average and traffic flows ok. Big cities like London, Paris and Berlin are the exception and even there you'll have problems if your vehicles speed is capped at 45km/h.