Among the financial advantages mentioned on the Wikipedia article, only the VAT (presumably?) break has meaning in Europe, or at least in France, since the other advantages are either on taxes or requirements that don't exist here (weight tax, road tax, adequate parking requirement) or insurance (which already depends on engine power here).
It seems to be closer to the existing license-less car category, actually (which are also limited to 50 km/h and barred from entering highways).