Taiga receives restructuring approval

Taiga Motors Corporation announced that, in connection with the proceedings initiated in July 2024 under the Companies’ Creditors Arrangement Act (Canada) (CCAA), the Superior Court of Québec (the Court) has issued an order approving the acquisition of substantially all of the business of Taiga and its subsidiaries (the Transaction) by Stewart Wilkinson (the Purchaser).

Stewart Wilkinson’s family office is behind the global leading group of marine electrification brands that include Vita, Evoy, and Aqua superPower. This strategic move positions Taiga to leverage significant resources, technologies and a newly combined global footprint to continue driving the adoption of electric vehicles beyond the road, ensuring a sustainable future for recreational and commercial activities in both marine and powersport sectors.

“We are excited to support the evolution of Taiga,” said Wilkinson. “Sam and his team have built great products and technology in challenging financial markets. The world urgently needs low carbon solutions for all forms of mobility. This transaction will allow us to continue building the best technology, team and products to propel the industry forward.”

“We founded Taiga with the mission to make sustainable recreation accessible to everyone,” said Samuel Bruneau, the CEO and co-founder of Taiga. “Over the past years, we developed and built what no other manufacturer was willing or able to achieve – the foundational technology required to drive mass market adoption. This business combination now gives us the scale and resources needed to deliver on our vision. By combining Taiga’s technology and mass production expertise with the group’s leading position in marine electrification, we will achieve greater economies of scale to deliver high-performance products at compelling prices to accelerate the electric transition.”