Electric vehicle batteries face fast degradation due to the high frequency of charging/discharging cycles and great peak power demands. Lifetime, continuity of supply and power density of these batteries affect the performance of electric vehicles (EVs). Hybrid energy storage systems (HESS) offers a feasible solution by incorporating other energy storage elements like ultra-capacitor (UC) along with battery. Their combination provides higher efficiency and better performance in terms energy/power density. UC can behave like a power buffer when the EV is accelerating and regenerating. The HESS needs a controller that can split the available power between different sub systems as per demand. This paper presents a regulatory control strategy useful in HESS with battery and UC for the speed regulation of a brushless DC (BLDC) motor using a 3-port bidirectional DC-DC converter. The regulatory control strategy monitors the state of charge (SOC) of UC and a fuzzy logic controller regulates the power flow between HESS and the motor. Simulation in MATLAB validates the efficacy of the strategy. Simulation results and hardware evaluation confirm that the regulatory control scheme is effective in splitting the available power according to the load demand and achieves better energy efficiency.