The Montreal-based powersport startup has agreed to sell its assets to Stewart Wilkinson, founder of Vita Power, for an undisclosed amount. Vita specializes in electric powertrains for recreational and commercial boats. (La Presse)
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The Montreal-based powersport startup has agreed to sell its assets to Stewart Wilkinson, founder of Vita Power, for an undisclosed amount. Vita specializes in electric powertrains for recreational and commercial boats. (La Presse)
Talking point: Once a darling of the EV boom, Taiga filed for creditor protection on July 10 with $93 million in debt owed to a long list of creditors. Those include government agencies Investissement Québec, Export Development Canada and Economic Development Agency of Canada, to which Taiga collectively owes $34 million. Its market value in July was less than $10 million, down from its $537-million valuation when it went public via a SPAC in February 2021. The company has cut its staff from 300 to 20 people. La Presse reported that Taiga had received expressions of interest from five prospective buyers before choosing Stewart. The new owner will reportedly maintain its operations in Quebec.
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