Taiga Broadcasts $ 50 Million Authorities Help For Electrical Automobile And Battery Meeting Plant
- $ 50 million in combined support from federal, provincial and local governments of Taiga’s mass production facility for electric snowmobiles, watercraft, battery packs and propulsion systems in Shawinigan, Quebec.
- Using the latest technology, the world’s most advanced production facility for electric powersports is scheduled to go into operation in the second half of 2022.
- After full commissioning, the plant will have an annual production capacity of up to 80,000 units and 3 gigawatt hours in battery pack and module production.
SHAWINIGAN, QC, July 12, 2021 / PRNewswire / – Taiga Motors Corporation (“Taiga”) (TSX: TAIG), a leading manufacturer of electric off-road vehicles, announced today the increase of a combined $ 50 million in support of the Shawinigan mass production assembly facility.
The project and the development represent an investment of approx. $ 125.17 million. Taiga becomes one combined from the support of all levels of government. benefit $ 50 million ($ 10 million in federal funding, $ 30 million in state funding and $ 10 million in municipal funding.) With the development of the new system, Taiga predicts that it will accelerate the production of its off-road vehicle platforms and drive trains while at the same time optimizing and automating battery production. Given the company’s approach to cleanly designing power units and vehicle platforms, this new manufacturing capacity will have a direct impact on off-road vehicle transportation and the environment.
The Minister for Innovation, Science and Industry, the Honorable François-Philippe champagne, the Minister of Finance and Minister of Economy and Innovation, Mr. Eric Girard, the Minister for Labor, Employment and Social Solidarity, Mr. Jean Boulet, and the Shawinigan City Major, sir Michel Angers, gave this today accompanied by Mr. Samuel Bruneau, CEO and Co-Founder of Taiga.
A milestone for taiga and off-road electrification
A first for the electric powersports industry, the facility will take a vertically integrated and modular approach, leveraging the common features of proprietary software and hardware technology platforms across all vehicle designs to achieve greater economies of scale and shorter development times for new vehicles.
Advances in automated manufacturing have enabled Taiga to innovate in electric powertrain production processes that reduce costs and accelerate electrification in the off-road sector. The state-of-the-art, high-volume powersport manufacturing facility is slated to go into operation in the second half of 2022 with the manufacture of taiga watercraft and snowmobiles as well as the built-in flexibility for new off-road vehicles upon launch. In parallel to vehicle production, the Shawinigan The plant is able to produce three (3) gigawatt hours per year in battery modules and packs.
Shawinigan is a growing dynamic Canadian electrification center, supporting a robust supply chain network across Quebec. The project aims to create 370 high quality jobs and develop a local supply chain for materials and components.
“Our government is helping the country’s companies become global leaders in the manufacture of green vehicles and create reliable jobs. The arrival of Taiga Motors in the Mauricie region is an important part of our efforts to fully share the region’s economic recovery ”by showcasing local talent. Our government will continue to support businesses so that they can participate in efforts to build a clean growth economy, including by investing in carbon neutral vehicle manufacturing. ”
– The Honorable François-Philippe champagne, Member of Parliament for Saint Maurice Champlain and Minister for Innovation, Science and Industry
“Innovation is at the heart of our government’s priorities, and we proudly support projects like Taiga Motors that will contribute to a cleaner environment Quebec, the project is fully in line with our recovery plan for a sustainable, green and innovative economy. Taiga Motors’ values are also in line with our priorities for electrification of transportation, the fight against climate change and structural regional economic development. By using this innovative project in Shawinigan, we also invest in the well-being of future generations. ”
– The honorable Melanie Joly, Member of Parliament for Ahuntsic ‒ Cartierville, Minister for Economic Development and Official Languages and Minister responsible for CED
“Taiga has the potential to position itself favorably in the growing market for electric vehicles. His project matches our desire to invest in this manufacturing sector to ensure that Quebecs Transition to the electrification of transport. In this way, we will meet our greenhouse gas reduction goals and build a new, greener, more prosperous and more sustainable economy. ”
– Eric Girard, Minister of Finance and Minister for Economy and Innovation
“The popularity of electric vehicles is growing rapidly around the world. Taiga, which specializes in recreational vehicles, has all the prerequisites to position itself advantageously in the market. With the construction of its new plant in the Mauricie region, the company benefits from our stimulating business environment and our skilled workforce to continue its growth. ”
– Jean Boulet, Minister for Labor, Employment and Social Solidarity and Minister responsible for the Mauricie region
“Taiga has been a source of pride in the Mauricie region since its creation in 2015 at the Center d’entrepreneuriat Alphonse-Desjardins in Shawinigan. With this ambitious project, the avant-garde company is now moving up a gear. The establishment of the new plant in Shawinigan will enable our region to further develop its know-how in the field of traffic electrification and to contribute to a strong upswing in the Mauritian economy. ”
– Marie-Louise Tardif, Member of Laviolette-Saint-Maurice and Parliamentary Assistant to the Minister for Forests, Wildlife and Parks (Forestry)
“This factory will allow Taiga to become the first Canadian electric vehicle manufacturer to integrate both automated powertrain assemblies and electric vehicle platforms under one roof for significant efficiency gains. Thanks to funding from the federal, provincial, and local governments, we’ll be able to quickly increase manufacturing capacity while innovating with it Quebec and Canada can remain a leader and move the global powersports market towards a more positive future of uncompromising outdoor exploration. ”
– Samuel Bruneau, CEO and Co-Founder, Taiga
Taiga is a Canadian company founded in 2015 that is reinventing the powersports landscape with groundbreaking electric off-road vehicles. Through a clean sheet engineering approach, Taiga has pushed the boundaries of electrical engineering to achieve extreme power to weight ratios and thermal specifications that surpass comparable high performance internal combustion engine sports vehicles. The first models to hit the market include a range of electric snowmobiles and personal watercraft to meet the rapidly growing demand for recreational and commercial users for those looking for better ways to explore the great outdoors without compromise. Further information can be found at https://www.taigamotors.ca
This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements relating to expected performance of the Shawinigan mill, expected production times, and customer demand for Taiga’s products. Forward-looking statements can generally, but not always, be identified by the use of forward-looking terminology such as “outlook”, “target”, “could”, “would”, “will”, “expect”. , “Intend”, “estimate”, “forecast”, “project”, “aim”, “anticipate”, “believe”, “should”, “plan” or “continue” or similar expressions referring to future results or events suggest and the negative of any of these terms. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the control of the company and which could cause actual results to differ materially from those disclosed or implied in such forward-looking information. These risks and uncertainties include, but are not limited to, the effective functioning of the configurator, further interruptions in the supply chain and the impact of such interruptions on the ability to fulfill orders and the prospectus dated under “Risk Factors” in the final non-offer March 26, 2021, from Taiga (formerly Canaccord Genuity Growth II Corp.).
Forward-looking statements reflect management’s current views, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no guarantee that future circumstances, results or results anticipated or implied by such forward-looking statements will occur or that any plans, intentions or expectations will occur the statements based on the forward-looking statements will occur. By their very nature, forward-looking statements involve known and unknown risks and uncertainties, as well as other factors that could cause actual results to differ materially from those anticipated in such statements.
All forward-looking statements in this press release are restricted by these cautionary statements. Unless otherwise stated, the forward-looking statements contained herein speak as of the date of this press release, and unless required by law, Taiga undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Taiga Motors Corporation