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.