14 • November 2024 • Powersports Business

Taiga Motors Corporation has announced that , in connection with the proceedings initiated in July 2024 under the Companies ’ Creditors Arrangement Act ( Canada ) ( CCAA ), the Superior Court of Québec has apporved the acquisition of Taiga and its subsidiaries by Stewart Wilkinson .

Stewart Wilkinson ’ s group controls marine electrification brands , including Vita , Evoy , and Aqua superPower . This strategic move positions Taiga to leverage 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 the marine and powersport sectors .

“ We are excited to support the evolution of Taiga ,” says Stewart 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 .”

NEW ERA The alliance between Taiga , Vita , Evoy , and Aqua superPower will create a strong end-to-end ecosystem that delivers electric propulsion systems and vehicles to a broad range of recreational and commercial customers worldwide .

“ We founded Taiga with the mission to make sustainable recreation accessible to everyone ,” says 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 ,” he continues . “ Combining Taiga ’ s technology and mass production expertise with the group ’ s leading position in marine electrification will achieve greater economies of scale to deliver high-performance products at compelling prices to accelerate the electric transition .”

Evoy and Vita are marine technology specialists that develop high-performance , fast-charging electric propulsion systems for commercial and recreational marine applications . Evoy ’ s high output of 100 to 400 horsepower inboard and outboard offers instant plug-and-play solutions for the mass market , while Vita offers design and integration services for the specific requirements of transport and tender electrification projects .

GLOBAL REACH The acquisition creates a positive path forward for Taiga Motors , strengthening its operations in Canada , persevering jobs , and enabling continued delivery of its electric snowmobiles and personal watercraft .

Taiga ’ s advanced production facility in Montreal , Quebec , with an installed capacity of up to 8,000 combined units per year , will enable the delivery of electric powertrain components to global boat manufacturers alongside Taiga ’ s electric vehicles .

The group can now scale its operations and distribution globally with state-of-the-art production facilities and innovation centers strategically located across North America

Stewart Wilkinson ’ s group controls marine electrification brands , including Vita , Evoy , and Aqua superPower , and now has acquired Taiga Motors in a court-approved offering for an undisclosed amount . Photo courtesy of Taiga Motors

and Europe , including key sites in Montreal , the UK , Italy , and Norway .

TRANSACTION The financial terms of the transaction were not disclosed . However , Wilkinson has agreed to assume Taiga ’ s debts . Wilkinson has committed to providing working capital funding for Taiga ’ s business plan as the most senior secured lender and the sole provider of interim funding to Taiga under the CCAA proceedings .

Norton Rose Fulbright Canada LLP represented Stewart Wilkinson as legal counsel to Taiga , Lavery , de Billy , L . L . P ., while Fasken Martineau Dumoulin advised the monitor .

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