Taiga Motors announces $50 million funding for new factory
Taiga Motors Corporation has announced the raise of a combined $50M in support of the Shawinigan Mass-Production Assembly Facility.
The project and development represent an investment of approximately $125.17 million, which Taiga will benefit from support by all levels of governments to a combined $50 million ($10 million in federal funding, $30 million in provincial funding, and $10 million in municipal funding). With the development of the new facility, Taiga predicts that it will accelerate production of its off-road vehicle platforms and powertrains while simultaneously optimizing and automating the battery production. Given the company’s approach of clean-sheet engineering of power units and vehicle platforms, this new manufacturing capability will have direct impact on off-road vehicle transportation and the environment.
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Taiga’s facility will employ a vertically integrated and modular approach, leveraging the proprietary software and hardware technology platform commonalities across vehicle builds for increased economies of scale and reduced development times for new vehicles.
Advancements in automated manufacturing have allowed Taiga to innovate in electric powertrain production processes that will drive down costs to accelerate electrification in the off-road sector. The highly advanced high-volume powersport production facility is expected to become operational in the second half of 2022 with manufacture of Taiga personal watercrafts and snowmobiles, alongside built-in flexibility for new off-road vehicles as they are brought to market. In parallel with vehicle production, the Shawinigan facility is capable of an annual production of three gigawatt hours in battery modules and packs.
Shawinigan is a growing dynamic Canadian electrification hub and supports a robust supply chain network across Quebec. The projected is expected to create 370 high quality jobs and to develop a local supply chain of materials and components.
“Our government is supporting the country’s businesses as they become global leaders in the manufacture of green vehicles, creating dependable jobs. Taiga Motors’ arrival in the Mauricie region is a key part of our efforts to enable the region to participate fully in the economic recovery by showcasing local talent. Our government will continue to support businesses so they can participate in efforts to build a clean-growth economy, including by investing in the manufacture of carbon neutral vehicles,” said François-Philippe Champagne, Member of Parliament for Saint Maurice Champlain and Minister of Innovation, Science and Industry, in the announcement.
“This factory will allow Taiga to become the first Canadian EV manufacturer to integrate both automated powertrain assemblies and electric vehicle platforms under one roof for greatly increased efficiency. Thanks to the financing provided by the federal, provincial and municipal governments, we will be able to rapidly increase manufacturing capacity while continuing to drive innovation so that Quebec and Canada can remain leaders disrupting the global powersports market towards a more positive future of outdoor exploration without compromise,” said Samuel Bruneau, CEO and co-founder of Taiga in the announcement.
