Taiga Motors Acquired by British Entrepreneur Stuart Wilkinson

The sale, approved by Quebec Superior Court, aims to enhance electric vehicle production and resolve financial challenges.

Taiga Motors, a Montreal-based electric vehicle manufacturer, has been sold to British entrepreneur Stuart Wilkinson, known for his marine electrification brands.
The financial terms of the deal remain undisclosed, but Wilkinson will assume Taiga's debt to Export Development Canada and has committed to funding its business plan.
The acquisition follows Taiga's bankruptcy protection filing earlier this year due to financial difficulties and a cash crunch.
Taiga aims to leverage Wilkinson's resources to achieve greater economies of scale and accelerate the transition to electric vehicles.
The transaction is expected to safeguard public investments from Canadian and Quebec governments and provide a fresh start for Taiga in the EV market.