PURPOSE: To increase an operating time and to improve the operability at the time of a slow velocity by controlling a drive circuit based on an output signal from a rotation and accelerator sensor, executing a regenerative drive when the number of revolutions of a travel motor is larger than a predetermined value at the time of releasing an accelerator pedal and controlling the slow speed traveling at the time of smaller.

CONSTITUTION: A control circuit 7 calculates the vehicle speed based on the number of revolutions of a travel motor 3 detected by a rotation sensor 4. Various drive modes are discriminated based on the rotating direction of the motor 3 detected by the sensor 4, the depressed state of the pedal 5 detected by an accelerator sensor 5a and the set advancing direction detected by a forward/reverse switch 6a. Thus, if the number of revolutions of the motor is a predetermined value or less when the accelerator is turned OFF, the vehicle is traveled at a slow speed, and an operator can travel at a slow speed only by braking without using the accelerator. When it is the predetermined value or more, regenerative operation is conducted to improve the operating time.