Tauranga-based electric motorbike company UBCO has gone into receivership, just months after signing a high-profile partnership with Australia Post.
UBCO, known for its electric two-wheel utility bikes, made headlines in September when it announced a major deal to supply Australia Post with 175 e-bikes. The deal followed an 18-month trial across multiple states.
At the time, Australia Post chief executive Paul Graham described the partnership as a “pivotal moment for Australia Post”.
UBCO chief executive Oliver Hutaff told 1News last year that the company had “bet a large position” of its future on the success of fleet contracts, including deals with Domino’s New Zealand.
Hutaff said there were also ambitions for a larger rollout, potentially reaching 10,000 e-bikes across Australia.
However, that vision has now collapsed, with receivers Grant Thornton announcing the termination of all employee contracts and the suspension of future trade.
It’s understood that Australia Post has taken delivery of all 175 UBCO bikes, which are serviced by third-party partners, and that UBCO has committed to providing any required parts through a parent company.
1News has reached out to UBCO and Grant Thornton for comment.
