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MONTREAL, 7 June 2023: Taiga Motors Corporation (TSX: TAIG), a leading electric off-road vehicle manufacturer, last month announced its financial and operating results for the first quarter ended March 31, 2023.
Key Highlights
- Revenue of USD 1.7m from the sale of 59 vehicles
- 96 vehicles produced in the first quarter, up from 7 vehicles in the first quarter of 2022
- 222 vehicles produced year-to-date as of May 12, 2023
- USD 46.75m raised in capital, including USD 40.15m from a private placement and USD 6.6m from additional investors
- 3,185 pre-orders as of March 31, 2023
- New Board of Directors members with experience in automotive manufacturing
Management Commentary
“We are very pleased with our strong performance in the first quarter,” said Sam Bruneau, CEO of Taiga. “We continue to ramp up our production and delivery capabilities, and we are confident that we are on track to meet our 2023 goals. We are also grateful for the continued support of our investors and customers.”
Company
Taiga is a leading electric off-road vehicle manufacturer headquartered in Montreal, Canada. Taiga’s mission is to accelerate the transition to sustainable transportation by developing innovative electric vehicles that are fun to drive, easy to use, and affordable. Taiga’s products include the SnowRunner, an electric snowmobile, and the Orca, an electric ATV.
