MG has moved mighty swiftly with what's looking like an increasingly likely foray into the electric vehicle market.

Having unveiled its Dynamo concept just a few months back the Birmingham-based car-maker has produced what is to all intents and purposes is a production-ready version of the car.

Now badged as the MG EV Concept it was unveiled for the first time at the recent MG90 event at Silverstone, a huge rally organised by the MG Car Club to celebrate the marque's 90th birthday.

The pace of the process probably has more to do with the work that's already gone into the car, rather than a sense of urgency by MG to get it to market.

Having been developed jointly between engineers and designers at MG Motor UK's technical centre in Birmingham and their SAIC equivalents in Shanghai the car is already up and running in China.

More than 500 have been produced so far and are already trundling silently around the streets of Shanghai.

It's powered by a lithium iron phosphate battery situated under the floor with the car's motor located at the front of the car.

MG has opted for the lithium iron phosphate (LFP) battery option over the more conventional cobalt oxide batteries found in electric vehicles.

Although they're marginally bigger they are more powerful and allow for rapid charging.

Consequently the EV can be charged in one of two ways, AC or DC, and slowly or quickly.

The standard 3kw AC charging takes six hours but there's the added option of 50kw rapid charging which takes just half an hour.

LFP batteries also have safety benefits and according to MG will have a longer lifespan too.

The EV features a CVT transmission and the car - as with most electric vehicles - is exceptionally easy to drive. Simply push the start button, engage drive and off you go.

Looks-wise the EV is certainly on the money and is a very smart, snazzy and stylish city car.

Given its compact dimensions it actually looks remarkably sporty and even futuristic.

The inside is relatively simple and spartan but it has an impressive centrally-located touchscreen which allows the driver to control pretty much everything.

This production concept might have suspension that's been set up for the Chinese market but didn't feel bad it's fair to say, though if it does get the MG go-ahead there will be a fair measure of re-engineering before it goes on sale.

Although our drive was a fairly short one - just a few laps around the Silverstone circuit - it felt good to drive.

Like all electric cars it has that sprightly, torquey kind of feel that initially takes you by surprise but which you quickly appreciate as a welcoming character trait. 

Minimal overhangs and its diminutive size help to make for a decent drive and it handles nicely, even when cornering at moderately high speed.

It produces 70bhp and although it feels quick out of the blocks is no sprinter, with a 0-60mph time of 14.6 seconds. However, given it's essentially designed as a city car its 0-30mph time of 5.3 seconds is probably a better reflection of its real world performance.

And, with that potential as a city car in mind MG reckon it offers the kind of range that should make it ideal for most commuters. They're estimating a range of up to 70 miles though in mid-winter with the lights and heating running you might see a figure closer to 50.

Weight-wise the EV weighs just over a ton and is around 70kg lighter than a potential competitor like the Volkswagen e-up!.

Although MG has given no indication as to price it is believed it would almost certainly be significantly cheaper than the VW.

MG bosses say the real question for them is whether the EV would be accepted as an MG and the showcasing of the car at Silverstone and elsewhere is designed to test public reaction.

That said, they also acknowledge many potential buyers might be people who are essentially looking to buy an EV as opposed to an MG.