Low Speed Vehicle Manufacturer
The low-speed vehicle industry is poised to grow at a fast pace, offering manufacturers a lucrative opportunity to invest and expand in a booming market. Is your company positioned to benefit from this important trend?
Low-speed vehicles such as golf carts and customized used golf carts and cars are quickly becoming popular with businesses thanks to their many benefits beyond golf. This article will provide a comprehensive guide explaining how manufacturers can capitalize on the growing popularity of low-speed vehicles and enter this potentially lucrative market.
What Is An LSV?
Low-speed vehicles are four-wheel vehicles usually powered by Lithium Ion (li-ion) EV batteries, with a top speed of just 25 mph and a gross vehicle weight rating of less than 3,000 lbs. Most States allow LSVs to be driven on roads equipped with seat belts with a maximum speed of 35mph or less. They are used in a variety of industries for a wide range of applications. Some popular end-uses in the low-speed vehicle market are:
In gated communities as a neighborhood electric vehicle
Short distance commuting
New golf courses
Resorts and sprawling hotel sites
Warehouses and manufacturing plants
Commercial turf utility vehicles are typically used as golf carts and transport people and equipment around golf courses. In contrast, the fastest-growing market is electric commercial turf utility vehicles used for non-golf course purposes.
Demand for this vehicle type is predicted to increase significantly during this forecast period. Currently, the low-speed vehicle market is worth USD $10.4 billion, the same as its pre-pandemic levels, and it is projected to rise to USD $15 billion by 2028.
Right now, a few key companies dominate the low-speed vehicle golf cart market. Textron Inc is the industry leader and holds the largest market share. Yamaha Motor Co Ltd and Club Car are also leading golf cart manufacturers in the low-speed vehicle market.
We are an established low speed vehicle manufacturer at Westward Industries. As a company with over 30 years of experience, we make a big difference in the low-speed electric power vehicle market, helping organizations reduce high costs and use more power output with less energy.
Whatever application type your company requires, we have an electric power low-speed vehicle with the features you need. Our popular low-speed vehicle manufacturer types are:
MAX-EV — designed for use for grounds maintenance by universities, street cleaning, neighborhood vehicles, painting in public areas and master planned communities, farming, rough terrain, and much more.
GO4 — perfect for use in congested traffic and ideal for parking management.
Build Your Own — Dive into the low-speed vehicle market by clicking here to build your own low-speed vehicle to meet your needs.
Discover more about our low-speed electric power vehicles here:
Advantages of LSVs
Reduces noise pollution
A green choice—better for the planet than gas-powered carts
Excellent maneuverability for access to hard-to-reach places
Regulations for Operating LSVs Commercially
Federal laws state low-speed electric vehicles must meet minimum safety standards. Safety features LSVs must have as standard equipment includes:
Vehicle identification numbers
Street-legal electric vehicles or other low-speed electric vehicles will require insurance. Anyone that drives a low-speed electric vehicle must have a valid driver’s license.
Driving a low-speed vehicle is permitted in almost all states. However, a low-speed vehicle typically should not be operated on a highway with a speed limit above 35 mph. Some states require drivers of LSVs, hold carts, and neighborhood electric vehicles to be insured for personal injury insurance (PIP) and property damage liability.
Benefits To Businesses That Use Electric Utility Carts
Your company can enjoy many benefits when you start using electric utility carts. Here are some advantages of using this vehicle type within your commercial fleet:
Easy to maintain as there is no internal combustion engine
A low-speed vehicle can navigate tight spaces with ease in a commercial setting
Battery type offers improved energy density and long-lasting power
The combination of low-running costs and zero carbon emission makes these utility vehicles attractive for businesses trying to save money while reducing their carbon footprints. As the low-speed vehicle market expands, you can enter the LSV market on the cusp of a boom in the commercial sector. Developing your own line-up of electric vehicles within the low-speed electric vehicles industry will ensure you are ready to benefit as demand in the low speed vehicle manufacturer market soars. Contact us to learn more.