The Montreal manufacturer of 100% electric snowmobiles and personal watercraft Taiga is revising its production forecasts for 2023 downwards.
Management now expects to deliver between 1,700 and 1,900 vehicles this year, compared to the previously communicated target of producing between 2,500 and 3,500.
This revision in expectations suggests that the supply chain remains under pressure and that the company is having trouble increasing the production rate.
Taiga, which plans to open a plant in Shawinigan, still believed last fall that a gradual acceleration of its production rate would allow it to achieve its objectives. Like others, the company’s supply chain has been under pressure over the past year due in particular to difficulties in obtaining certain materials and components. The efficiency of manufacturing processes needed to be optimized while investing in production capacity.
Taiga produced a total of 133 vehicles last year. The sale of 104 vehicles generated a turnover of 3.2 million dollars in 2022. The net loss reached 60 million in 2022, while it amounted to 100 million in 2021.
Struggling financially, Taiga announced two weeks ago that Investissement Québec and the firm Northern Private Capital – its main shareholder – had agreed to provide a total of 40 million in a private financing of convertible debentures. bearing interest at the annual rate of 10%.
Taiga’s stock hit a new low on the Toronto Stock Exchange this week.
