The main focus of this paper is how the concept design phase of the product development process can be improved by using an objective data-driven approach in selecting a final concept design to progress further. A quantitative new test-bed ‘Product Optimisation Value Engineering’ (PROVEN) is presented to critically assess new and evolving powertrain technologies at the concept design phase. The new test-bed has the ability to define a technology value map to assess multiple technical options as a function of its attributes, whose precise values can be determined at a given cost. A mathematical model that incorporates a highly adaptable, data-driven and multi-attribute value approach to product specification and conceptual design is developed, novel to the concept design process. This creates a substantially optimised product offering to the market, reducing overall development costs while achieving customer satisfaction.