The Pangolin, named for a scaly anteater native to South America and Southeast Asia, is a replacement to the "Tangi" Armored Patrol Vehicle. The "Pangi" (referred to as the "Armoured Public Order Vehicle" by Ovik) came a few years after the limited production Hobson Ranger (Thetis) ALV; the 2 "prototypes" still being in service.  The Pangi is based upon a highly advanced derivative of the Land Rover 110 PUMA chassis and was produced in two batches.  The first batch of 60 vehicles are refered to as "B1" and the upgraded second batch of 30 vehicles are referred to as "B2".  Even at present, Ovik is already working on the Pangi's replacement, the "Pangolin Advanced", which is based upon their higher capacity STRIVE vehicle chassis.

After Penman Engineering protested Ovik's contract to manufacture the Pangi, they were also allowed to build their own (very similar) version of the vehicle: the Penman ALV Mark IV.  The Penman offering was built concurrently with the Ovik Pangi B2 vehicles.