Kintyre Holdings (Ja) Ltd has acquired a majority stake in an electric vehicle (EV) dealership in a deal expected to reach $100 million, financed through the issuance of new shares, marking the company's entry into Jamaica's emerging EV market.

"The new shares were approved at our annual general meeting," Chairman, President and Chief Executive Officer Tyrone Wilson told the Financial Gleaner on Friday.

Wilson said Kintyre acquired a 75 per cent stake in the EV dealership, with the deal funded through the issuance of more than $50 million in Kintyre shares. He confirmed that the new shares covered both the EV dealership stake and the build-out of service, parts, and showroom infrastructure, together securing the 75 per cent position.