Purpose-built vehicles (PBVs) represent the new breed of customized vehicle development. Unlike custom-built vehicle manufacturing processes, in which few alterations are made to existing vehicle models, PBVs are customized from the design phase to suit the application in which the vehicle will be deployed in the future.
• The PBV sector is fragmented, with most companies launching vehicles for application areas like ride-sharing, last-mile delivery, and recreation purposes.
• Service providers in these areas require customized vehicles with components and features that are useful for their customers and enable them to achieve high productivity and customer satisfaction levels.
• While more than a dozen other companies are exploring or have recently entered the industry, Frost & Sullivan has identified 10 companies in this global PBV Radar™ analysis featuring REE Automotive, Canoo, Hyundai, Kia, Volkswagen, Arrival, Zoox, Cruise, Mobilize, and Rivian as powerhouses.
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