American promoter Malcolm Bricklin wanted to build his own US-designed sports car, and, lured by loan guarantees of $2 880 000 plus $500 000 for 51% of the stock, he set up shop in Saint John and Minto, NB, where the fibreglass bodies were made. Plagued by technical problems with the "gull-wing" doors and the poor quality of the bodies, production was delayed.
The company's indebtedness to the provincial government escalated to $23 million, at which point the government refused to grant more aid unless the private sector provided 50% of the financing. But the private sector would not, and the company fell into receivership.
During 1974 and 1975, 2857 cars were made. All went to the US because Bricklin could not join the Canada-US Automotive Products Agreement. AMC and Ford engines and other parts were imported from the US duty-free with the understanding that every Bricklin be sold there.