Production is set to restart at electric boat manufacturer X Shore’s Norwegian facility following the sale of company’s assets to Norwegian entrepreneur Staale Reiersen and his business Fortivo AS.
Reiersen has said he plans to restart production at the boatbuilder’s Nyköping based factory, with the focus to continue on electric boats. The timing of the restart is still unknown.
The acquisition deal includes the boatbuilding set up apart from the building itself, which Fortivo will lease from the municipality of Nyköping.
X Shore Production AB was declared bankrupt at the end of October 2025.
The company has been engaged in the development and manufacture of electric boats under the X Shore brand, with the business operating in collaboration with the parent company, which handled sales and marketing, among other things.
Public auction
The bankrupt company had operated from rented premises in Nyköping and at the time of bankruptcy, had approximately 55 employees.
Manufacturing at the Nyköping facility was paused, with 27 electric boats in various stages of completion subsequently put up for public auction.
Bankruptcy administrator, lawyer Johan Schubert at MAQS Advokatbyrå, was appointed, and tenders for the business were invited with Schubert statung he initially intended to transfer the business as a whole.
In addition to X Shore Production being declared bankrupt, Nyköping Municipality filed for bankruptcy against the parent company, X Shore AB earlier in January 2026 due to unpaid rent on the factory premises for which the parent company was a guarantor.
Rent arrears
Although Nyköping Municipality has signed a new lease agreement with Fortivo which has had access to the factory since January 9 2026, with rent arrears still outstanding, the bankruptcy petition against X Shore AB remains.
X Shore was founded in 2016 and up until 2025 had raised more than $113 million in six rounds of financing.
At the time of X Shore Production’s insolvency, X Shore CEO, René Hansen, had been optimistic about the the company’s operation.
The production facility can currently produce approximately 50 boats per year with its existing staff and had been operating since 2021.
