LOW-SPEED VEHICLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In July 2024, Yamaha Golf-Car Company (YGC), a subsidiary of Yamaha Motor Corporation that specializes in golf cars in the U.S., unveiled the DRIVE H2, the world's first hydrogen-powered golf car concept model. This innovative vehicle is currently showcased at the PGA Show in Florida, U.S.one of the largest events in the golf industry. The DRIVE H2 is designed to promote decarbonization while utilizing an internal combustion engine powered by hydrogen, reflecting Yamaha's commitment to sustainable mobility solutions.
• In June 2023, Toro, a leading manufacturer of outdoor power equipment, introduced the Vista Series passenger vehicles. These versatile models are designed to provide comfortable and efficient transportation in a variety of settings including resorts, campuses, event spaces, and athletic facilities.
• In June 2023, Textron Inc., under its E-Z-GO brand, launched the Liberty, a street-legal low-speed vehicle (LSV) designed for urban environments. With a top speed of 25 mph, the Liberty complies with all National Highway Traffic Safety Administration standards for low-speed vehicles, allowing it to be operated on public roads with speed limits of 35 mph or less in most states. The vehicle is equipped with safety features such as a backup camera, operator protective structure, a pedestrian warning system, seatbelts, and an optional infotainment system. Additionally, it adheres to FMVSS 500 and SAE J2358 standards, ensuring a safe and reliable driving experience.
• In March 2023, Club Car, a leading manufacturer of small-wheel electric vehicles, launched its new neighborhood electric vehicle (NEV), the Club Car CRU. This street-legal low-speed vehicle (LSV) is designed to provide a sustainable and fun alternative for short trips around town.