Kiwi investors rescue electric bike maker UBCO from receivership

Tauranga-based electric motor bike company, UBCO, has been bought out of receivership by a group of investors, some of whom were the original owners.

Ubco went into receivership in January 2025 owing around $36m.

Now a group of New Zealand investors have rescued the electric utility bike maker. No details of the sale price were available.

It will continue to operate out of its Tauranga premises, and will aim primarily but not exclusively at fleet sales here and overseas.

The original primary backers, Jubilee Investments, retains a significant minority shareholding in the restructured group. New owners include Sir Stephen Tindall (another original backer) and companies associated with investor Peter Goodfellow, and the Holdsworth family.

Chief executive Oliver Hutaff has been reinstated. He said that the company was getting back to its roots of delivering robust, durable electric bikes.

Ubco will refocus on selling electric utility vehicles to the likes of postal services, agriculture companies, conservation, law enforcement and for military applications.

Hutaff said: “We know what works, and what doesn’t, and we’re back with a tighter focus.”

The acquisition includes UBCO’s Australian and local finance subsidiaries, neither of which was involved in the receivership. After restructuring, UBCO will have 21 staff, who cover R&D, and customer support. At its height, 109 were employed by the company. 

Manufacturing will continue in Taiwan, courtesy of the TPK group. And there are new distributors in Europe and the US.

UBCO kicked off in 2015 and sold over 6000 bikes before the troubles of 2025. Some 175 went to Australia Post just before receivership.