Skip to content

Montreal's Taiga Motors sells to British electric boat entrepreneur Stuart Wilkinson

e7a542b6ae2a8240c355088fd25bef1af45106fb88d705c3adb2a48fb1a18a8b
Taiga Motors headquarters is seen in Montreal on Monday, Nov., 13, 2023. Taiga Motors Corp. says the Superior Court of Québec has approved it sale to a British electric boat entrepreneur. THE CANADIAN PRESS/Christinne Muschi

Taiga Motors Corp. says the Superior Court of Québec has approved its sale to a British electric boat entrepreneur.

The Montreal-based maker of snowmobiles and watercraft says it will be purchased by Stewart Wilkinson.

Wilkinson's family office is behind marine electrification brands that include Vita, Evoy, and Aqua superPower.

Wilkinson and Taiga did not reveal the terms or value of the deal but say Wilkinson will assume Taiga's debt to Export Development Canada and has committed to funding Taiga’s business plan.

The companies say the transaction will allow them to achieve greater economies of scale and deliver high-performance products at compelling prices to accelerate the electric transition.

The sale comes months after Taiga sought bankruptcy protection under the Companies’ Creditors Arrangement Act to cope with a cash crunch.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:TAIG)

Tara Deschamps, The Canadian Press


Looking for National Business News?

VillageReport.ca viewed on a mobile phone

Check out Village Report - the news that matters most to Canada, updated throughout the day.  Or, subscribe to Village Report's free daily newsletter: a compilation of the news you need to know, sent to your inbox at 6AM.

Subscribe