"It's a very useful vehicle for practical purposes and it's an excellent sporting vehicle," he said.
Another amphibious vehicle, the Aquada, which was made famous by Sir Richard Branson when he set a record by crossing the English Channel in just four hours and 20 minutes, will be on display at the event.
The company has developed 10 amphibious vehicles to date and is working on three others.
Gibbs hopes to license his amphibious technology to manufacturers around the world.
"I hope in the time ahead the world will have hundreds of thousands of high-speed amphibious vehicles and we're looking forward to providing the technology to do it," he said.
"Anything significantly different like this takes a reasonable amount of time for people to think 'Ah that's interesting, do I need one? When can I afford it?'...
" took 30 years for the motorcar, from when it was first developed to the time when anyone started to make money from it, and this may take 30 years too."
Sixty per cent of all Gibbs vehicles are developed in New Zealand.
The evolution of his vehicles has been a natural process, he said.
"I'm an engineer and I've always had a keen fascination in vehicles and it was really just a natural evolution of pleasure."
While there is enough money to keep the projects running, Gibbs hopes one day the technology will be used on mass scale and become profitable.
"[The vehicle] has been entirely funded by money I have earned elsewhere. I'm investing in these products and hopefully they'll give a decent return. If they don't, I won't go broke."
The Terraquad has generated significant interest globally as the company seeks partners to license the technology.
Gibbs will unveil another amphibious prototype towards the end of the year.
