Precusor : V-100
V-150 was developed as cross between V-100 and V200. It has greater capacity versus V-100. Axle capacity was upgraded as it was the main complaint of users of V-100. It had the T50-MG turret. Example is the 1st photo above.
V-150S had a longer wheelbase, thus a longer hull. A Timawa.Net photo showed a hybrid between a V-150S hull and an old T50-MG turret. V-150S started production in 1983. The longer hull accommodated the larger 1-meter turret.
V-150S are in service with Philippine Marines, Philippine Army, PNP-Special Action Force
PMC upgraded (a few) of their S to mount a .50-cal M2 MG on the rear hull hatch.
in 2003, PMC also bought 40mm Auto Grenade Launcher to replace a few of the .50-cal MG on the turret.
Early in the 1990's the ST model was produced. The driver's glass block has been improved, side door enlarged with upper portion opening up instead of to the side, and stern section was modified. Phil Army has a few of them.** drawing notes : the stern portion maybe a bit off
The latest reincarnation of the V-150 is the ASV-150/M1117 which is currently in use/on order by the USArmy Military Police.