Taiga, the electric motorboat manufacturer, reports a 924% YoY increase in revenue for Q2 2023

by JLMMARINE 14 Oct 2024

Montreal-based electric motorboat and snowmobile manufacturer, Taiga Motors, has recently released its financial report for the second quarter of 2023, showcasing a triple-digit revenue growth due to increased product shipments.

According to Taiga's report, the sales revenue for Q2 2023, ending on June 30th, amounted to $4.1 million with a total of 145 units sold. This represents a remarkable 137% increase compared to the first quarter of the same year. In comparison to Q2 2022, which saw a revenue of $399,525, Taiga's growth stands at a staggering 924%. This exceptional growth can be attributed to the significant increase in production of their redesigned NomadTM snowmobile, which now boasts enhanced manufacturability.

Throughout Q2 2023, Taiga successfully produced a total of 178 snowmobiles and motorboats, consisting of 123 snowmobiles and 55 electric motorboats. The company also expanded its Taiga Service Provider (TSP) network, with 20 locations offering delivery and after-sales services across Canada and the United States as of June 30th, 2023. It is projected that Taiga will continue to expand its TSP network in the coming months to align with its product delivery plans.

CEO of Taiga, Sam Bruneau, expressed his satisfaction with the second-quarter results, stating, "Q2 showcased the scalability of our snowmobile platform. With the Nomad's redesign to improve manufacturability and continuous improvement in our supply chain, we anticipate a significant increase in production volume." Bruneau further added, "With the launch of the limited-edition Orca Carbon, we are on track to ramp up production of Orca Performance within Q3. We are fully focused on seizing our momentum as we experience rapid growth."

Taiga managed to maintain stable pre-order levels and sales channels in Q1, with a pre-order quantity of 3,185. This achievement is a testament to the company's dedication to aligning pre-orders with its production and delivery plans.

Prior to releasing the financial report, Taiga announced the commencement of deliveries for the Orca Performance electric motorboat. The company revealed that this innovative watercraft can operate for up to two hours before requiring a charge. Equipped with a sealed lithium-ion battery, the Orca Performance can be charged using a mobile connector on a conventional power outlet. With a Level 2 charger, it takes only three and a half hours to fully charge the battery, while an optional DC fast-charging system can restore 80% of the battery's capacity in less than 40 minutes.

Sam Bruneau emphasized the significance of the Orca Performance, stating, "This groundbreaking vessel truly changes the game. It represents a leap forward in electrifying the mass market boating industry and showcases our commitment to pushing boundaries and delivering exceptional performance at a competitive price."

The Orca Performance features Bluetooth and Wi-Fi connectivity, allowing for system updates and is accompanied by a mobile application. This remarkable watercraft is available for purchase starting at a retail price of $19,490.

With the impressive revenue growth and the successful launch of the Orca Performance, Taiga continues to solidify its position as a leading player in the electric motorboat industry. The company's focus on innovation, scalability, and customer satisfaction paves the way for a promising future in the market.

Hi—I’m Jim Walker

I grew up in a Florida boatyard, earning pocket money (and a few scars) by rebuilding outboard carbs before I could drive. That hands-on habit carried me through a Ph.D. in mechanical engineering, where I studied how salt water quietly murders metal.

I spent ten years designing cooling systems for high-horsepower outboards, then joined JLM Marine as CTO. We bench-test every new part in the lab, but I still bolt early prototypes onto my own 23-foot skiff for a weekend shake-down— nothing beats real wake and spray for finding weak spots.

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