The Bullet was originally developed by the Rhodesian private firm Zambesi Coachworks Ltd of Salisbury (now Harare) to meet a requirement put by the Rhodesian Army for a low-cost mine-protected IFV mounted on a Unimog chassis capable of carrying 10 men.
Production started early in 1978 at Army Workshops but in order to meet the increasing demand, manufacture was contracted out to the Rhodesian private firm Zambesi Coachworks Ltd of Salisbury (now Harare).