Kiwi electric bike manufacturer based out of Tauranga has been rescued by local investors after it went into receivership in June this year. Utility Fleet Vehicles has joined the current owners K1W1, Peter Goodfellow and the Holdsworth family to inject funds into the cash trapped company.

Source: RNZ – https://www.rnz.co.nz/news/business/567655/kiwi-investors-rescue-bike-maker-ubco-from-receivership