New Zealand’s Utility Electric Vehicle, UBCO, now on-road and offshore

After successfully raising NZ$4.20M earlier this year, including NZ$1.40M from US investors, Spring Capital and successful technology entrepreneurs Bob and Ethan Ralston, UBCO is now growing their global market both on- and off-road. The off-road market in North America alone is estimated at US$12.7bn (including both 2 and 4-wheel drive vehicles) and the on-road market is about US$6.21bn USD.

Over the last year funds have been spent on R&D, market development, marketing and operating costs. The results are looking good both in product and market outputs.

In May 2017 UBCO Bikes USA, LLC was established in Eugene, Oregon as a dedicated distributor of all Ubco products in the USA. Subsequently, a dealer network has been established across a number of US states, from Oregon to Mississippi, including BMW and John Deere dealership groups. With 120 units dispatched to the US to date, and a further 90 units on-order, the size and frequency of orders is increasing.

In Australia, UBCO appointed a national distributor that is focussed on rural agricultural equipment and there is already a 20′ container of 2018 2x2s being distributed across Australia.

The latest UBCO 2×2 is a road registerable Utility Electric Vehicle that is classified as a moped/scooter/motor-driven cycle globally and can be driven on-road with as little as a learner car driving license. The new model has been significantly upgraded with proprietary design, parts, and improved electrical integration it has improved strength, durability, ride comfort as well as higher performing motors and improved sealing.

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Idealog’s Guide to Tauranga: Follow the money

Businesses in Tauranga looking to scale up should count themselves lucky: the Bay of Plenty is one of the only regional centres in New Zealand with funding available for nearly every stage of business growth. There are three organisations on hand ready to help: early-stage investment provider Enterprise Angels, tech investor and incubator WNT Ventures and later-stage private equity provider Oriens Capital.

For companies in the early stages of investment, WNT Ventures is technology incubator that’s been put together to nurture innovative ideas nationwide. It’s currently on a five-year pilot trial receiving government support through Callaghan Innovation.

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Angels propose dance with wholesale investors

New Zealand’s latest crowdfunding venture should benefit from the wide definition of ‘wholesale investor’ under the Financial Markets Conduct Act (FMC), according to founder, Bill Murphy.

Murphy said the FMC expanded the number of potential NZ wholesale investors – who are not subject to the stricter, and more expensive, retail disclosure regime – opening up a broader target audience for the AngelEquity investment platform that launched last week.

In a statement he said: “We’re not just talking about banks or institutions. Many high net-worth individuals, or people with sophisticated knowledge and experience of financial markets are now considered wholesale investors.”

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