Quebec electric snowmobile and personal watercraft manufacturer Taiga Motors Corporation reported an increase in its revenue in the second quarter of 2022 and plans to increase its production rate.
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For the quarter ended June 30, Taiga reported revenue of $399,525 compared to the company’s revenue of $141,461 in the first quarter of 2022.
Despite everything, the company’s net loss fell from $4.5 million in the second quarter of 2021 to $11.1 million in the second quarter of 2022.
“During the second quarter, we shipped 21 additional electric snowmobiles to consumers and commercial operators in Canada and the United States. These units were the result of our first limited production, which serves as a springboard for us to accelerate future production. Seeing these units leave our factory and hearing great feedback from proud new owners has cemented our deep belief in the importance of the technological advances Taiga is bringing to the powersports industry,” said Samuel Bruneau, President and CEO of Taiga , and revealed the company’s results on Monday.
“The acquisition of our revolutionary Nomad snowmobiles by the vehicle fleet of the Société des Établissements de Plein Air du Québec, Sépaq […]is a perfect example of how Taiga enables commercial operators to achieve their sustainability goals,” he added.
The Taiga production line then transitioned to the Orca watercraft in the second quarter, with deliveries beginning on July 11, 2022.
For all vehicles combined, the Company’s pre-order tally crossed the 3,000 mark with 3,054 pre-orders received as of June 30, 2022, a 30% increase from 2,356 units as of December 31, 2021.
Taiga also wants to gradually accelerate its production rate, aiming to deliver 2,500 to 3,500 units by 2023.
As of June 30, 2022, the Company employed 231 full-time employees, approximately half of whom are dedicated to engineering.