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

Taiga Motors Corp. announced that the Superior Court of Québec has approved its acquisition by British electric boat entrepreneur Stewart Wilkinson.

The Montreal-based manufacturer of snowmobiles and watercraft will be bought by Wilkinson, whose family office is behind marine electrification brands such as Vita, Evoy, and Aqua superPower.

While the terms and value of the deal were not disclosed, Wilkinson has agreed to take on Taiga’s debt to Export Development Canada and has pledged to support the company's business plan.

Both companies stated that the deal would enable them to achieve greater economies of scale and offer high-performance products at competitive prices, further advancing the shift to electric transportation.

The sale follows several months after Taiga filed for bankruptcy protection under the Companies’ Creditors Arrangement Act due to financial difficulties.