Sweden-based electric-boat builder X Shore is filing for bankruptcy, as reported by founder Konrad Bergström in a LinkedIn post. The company was founded in 2016.
“It is painful when a deeply held vision ends this way,” Bergström said in his LinkedIn post. “While X Shore as a company may be coming to an end, the ideas it helped introduce will live on. The experience — and the silence — on the water is here to stay. My hope is that X Shore can find a new beginning with the right partner, allowing the original vision to be fulfilled: bringing the seas back to life where we live, in collaboration with nature.”
Bergström’s statement continued: “To everyone affected by this journey — our employees, suppliers, partners and investors — I am truly sorry. As founder and leader, I acknowledge my responsibility for how this chapter has unfolded, and I deeply regret the hardship and disappointment this ending has caused.”
According to information on the X Shore website, the company opened a factory in Sweden in 2021 that was capable of producing 1,000 boats per year. The company was producing the Eelex 8000, the X Shore 1 and the X Shore Pro. Last June, X Shore announced that is secured a SEK$50 million ($4.8 million) financing round.
