Electric Snowmobile & Jet Ski Maker Taiga Goes Public To Raise $100 million

Electric Snowmobile & Jet Ski Maker Taiga Goes Public To Raise $100 million

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Electric snowmobile and watercraft maker Taiga is going public through a SPAC deal, and it is raising $100 million in the process.

They have also started taking pre-orders.

Taiga Motors is a Montreal-based startup, for years. In 2015, the company emerged out of McGill’s racing team where the three co-founders, Paul Achard, Gabriel Bernatchez, and Sam Bruneau, worked on electric powertrains during their engineering studies at the university. They are focused on creating a lineup of electric snowmobiles.

They revealed their product lineup in 2019.

Later, they influenced their development of electric snowmobiles to build an electric watercraft: The Taiga Orca’s aim is to electrify the power-sports industry by developing all-electric vehicles that will be better than fossil fuel-powered counterparts while not being adverse to the environment they are made to enjoy.

Taiga goes public with CGGZ

Now Taiga is raising money and going public through a SPAC deal, which is currently popular with EV startups to ramp up production.They are raising $100 million in the process.

Taiga Motors is rumoured to be preparing to construct a 50,000-unit-per-year factory in Shawinigan, Quebec.

Taiga is taking reservations too with $500 deposits for its snowmobiles and watercrafts beginning at $15,000 for deliveries in the fall of 2021.

The company’s electric snowmobile can do 0 to 100 km/h (62 mph) in just 2.9 seconds, something unheard of in a production snowmobile, and it can travel 140 km on a single charge.

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