UBCO was founded on the idea of a Utility Electric Vehicle (UEV) that would transform the way people ride, work and play.

Since it was established in 2015, UBCO has evolved into a digitally connected UEV platform including on and off road transport (2×2), portable power, accessories, and cloud-based software.

Founded in New Zealand, UBCO can now be found in international markets including the United States and Australia. We are passionate about providing a complete solution to our customers, from an individual user to Fleet Managers, and have developed our product range to support a wide range of applications.

Our Business

UBCO develops, markets and distributes Utility Electric Vehicles (UEV) which have three connected products and services: Portable Power, Accessories and Subscription Software. We generate revenue by selling these products and services both directly and through an approved dealer network.

UBCO developed its first utility electric vehicle (UEV) the 2x2 as a platform vehicle in 2015. The focus was getting the vehicle into the widest possible range of applications, geographies, and climates to understand what really drives off road performance in an electric vehicle. Our customers have prized its lightweight, quietness, simplicity, safety and utility features.

This product platform combines UEVs with three enabling products and services: Portable Power, Accessories and Subscription Software to provide a sticky eco-system that increases lifetime customer value.

The interchangeable portable power system that can be used independently of the vehicle combined with UBCO’s SaaS overlay provides a blank canvas for a wide range of real world applications from farming and tourism to delivery, conservation, commuting and emergency services (to name a few).

A Unique Drivetrain

The drivetrains of UBCO’s 2 and 4 wheeled UEVs are engineered with a unique approach. Instead of a traditional drivetrain with chains, gears and clutches, UBCO has developed a robust hub motor, battery and control system that removes these elements, simplifying the product and making it lighter and safer.

Blue Ocean

A blue ocean opportunity exists as most of the electric vehicle investment has been focused on the on-road market, where as UBCO’s target market uses include outdoor and recreational, agriculture and commercial, and urban commuter applications.

Disruptive & Agile

UBCO has rapidly iterated its successful first product and is moving very quickly to expand. Our growing portfolio of knowledge and IP in the area of off road electric vehicles provides an ideal opportunity for strategic investors. Our products have created a new market category and are complementary and additive to leading manufacturers such as Polaris, Canam and John Deere.

A Large Opportunity

There is a fleet of 10 million Utility Vehicles in the US. Electrifying this fleet presents a significant opportunity for the brand that can successfully commercialize the platform to lead this revolution.

Market Focus

UBCO has three key markets globally: agriculture and farming; recreation and adventure; urban and metropolitan, with proven sales and adoption in agriculture and recreation. UBCO has successfully entered the New Zealand, Australian and North American markets, and will enter Europe in 2019.

UBCO’s primary focus is the North American off road recreation and commercial markets for both 2 and 4 wheel vehicles ($12.7b USD / $19.2b NZD) alongside naturally competing in the on road market ($6.21b USD / $9.4b NZD). Recreational usage includes hunting, camping, RV touring and recreational riding. Recreation is expected to be a key sector for UBCO especially in the United States, where 40% of the market is off road recreational. Commercial usage includes UBCO’s initial market of agriculture but has quickly grown to include commercial fleets for postal services, tourism, conservation, civic service operations and delivery operations.

Distribution Control

UBCO operates its own distribution, sales and marketing in the United States and New Zealand. Distributors sell to a network of UBCO-approved dealers. To date there are 91 dealers selling UBCO 2x2s and products globally. A dedicated team provide service and support to this growing dealer network.

Sticky Product Platform

UBCO has developed a sticky product ecosystem that utilizes an interchangeable power supply across all its UEV’s, providing on demand power enhanced by a SaaS overlay, giving users control and advanced ownership features.

The Ask

We are looking to raise capital with a minimum of $1.5m NZD, and a target of $2.5m NZD. An additional $2.5m is targeted over time from Funds or Family offices, with a view to providing structured assistance as we lead into a further funding round in late 2019/early 2020. The Directors may choose to offer more than $2.5m NZD in the event of reaching the initial target raise through Snowball Effect.

Use of Capital

UBCO has established a flexible business plan that enables us to scale relative total capital introduced.

UBCO's forecasts factor in additional downstream capital to drive our growth potential, ahead of growth in revenue. As a result, the business is expected to have negative EBITDA until the end of the forecast period.