Innovative technology driving the growing demand for electrification
MONTRÉAL, Oct. 13, 2021 /PRNewswire/ – Taiga Motors Corporation (TSX: TAIG) («Taiga» or the «Company»), a leading manufacturer of electric off-road vehicles, today announced that the Company has reached 110 fleet pre-orders1 worldwide between its Orca watercraft and snowmobiles. This milestone achievement marks a nearly 100% increase in fleet orders over the past few months and underscores a growing demand for fleet electrification from Taiga’s high-performance and sustainable products.
«As we execute on our multi-channel growth strategy, we have been laser-focused on our fleet program, as it enables multiple unit sales across numerous verticals, including hospitality and government, among others – each having the potential to grow year-over-year with recurring orders for the Company,» said Sam Bruneau, CEO and co-founder of Taiga. «This recent milestone is a testament to the extensive demand for off-road fleet electrification and takes us one step closer in our mission to electrify powersports at scale.»
Taiga’s fleet pre-orders have been placed by customers across Canada, the United States and Europe, representing a growing global demand for fleet electrification. Orca fleet customers include the Riviera Boat Club in Cannes, France, which will be adding the Orca to its available rental watercrafts, and SD Adventures in San Diego, California, a tour operator working with various resorts in the area.
Taiga’s fleet capabilities provide a sustainable solution for customers whose vehicles are crucial to their business. Commercial operators benefit from Taiga’s advanced software, remote connectivity, and reduced ownership costs in addition to reducing their carbon footprint.
Many of Taiga’s snowmobile fleet customers have come from ski resorts seeking to electrify their existing fleets as part of their commitment to sustainable business practices and the environment. Taiga management estimates that the replacement of 50 snowmobiles at a ski resort would have the equivalent air quality impact of the removal of 2,000 cars from circulation for one year, provided batteries are charged using renewable or other decarbonized sources of energy.2
Notable snowmobile fleet customers include Winter Park Resort, Colorado’s longest continually operated ski resort; Taos Ski Valley in New Mexico, the only Certified B Corp ski resort in North America; and More Activities in Sälen, Sweden, which provides a variety of recreational outdoor activities across Sweden.
This milestone comes on the heels of Taiga’s recent ‘Ride the Current’ tour, showcasing the Company’s dual-focused approach to success with both consumer and business to business (B2B) customers.
Taiga is a Canadian company reinventing the powersports landscape with breakthrough electric off-road vehicles. Through a clean-sheet engineering approach, Taiga has pushed the frontiers of electric technology to achieve extreme power-to-weight ratios and thermal specifications that outperform comparable high-performance combustion powersports vehicles. The first models released include a lineup of electric snowmobiles and personal watercraft to deliver on a rapidly growing demand from recreational and commercial customers who are seeking better ways to explore the great outdoors without compromise. For more information, visit https://www.taigamotors.ca.
This press release contains «forward-looking information» within the meaning of applicable securities laws, including statements with regards to expectations regarding market trends, overall market growth rates and the Company’s growth rates, the Company’s future objectives and strategies to achieve those objectives. Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as «outlook», «objective», «may», «could», «would», «will», «expect», «intend», «estimate», «forecasts», «project», «seek», «anticipate», «believes», «should», «plans» or «continue», or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, pre-orders for the Company’s vehicles being cancelled, delays in production times and those described in the management’s discussion and analysis for the three and six month periods ended June 30, 2021, and under «Risk Factors» in the final non-offering prospectus dated March 26, 2021, of Taiga (formerly Canaccord Genuity Growth II Corp.).
Forward-looking statements reflect management’s current beliefs, 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 assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.
All forward-looking statements included in this news release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this news release, and except as required by applicable law, Taiga does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pre-orders for new Taiga’s vehicles are cancelable and the deposit fully refundable, and there can be no assurance that such pre-orders will be converted into sales.
Based on calculation using EPA emissions standards. Air quality multiplicative factor based on management calculations between differential CO + NOx + HC annual emissions between average U.S. passenger automobiles and average ski resorts’ snowmobile emissions. Automobile emissions are calculated from U.S. average fuel economy, annual mileage and emissions as reported by the EPA. Snowmobile emissions calculated from the EPA reported 2019 snowmobile emissions per fuel energy unit, and Taiga collected data on average ski resort annual fuel usage.
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SOURCE Taiga Motors Corporation