Up to $40M from Ottawa and Québec for Taiga Motors

Up to $40M from Ottawa and Québec for Taiga Motors
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SHAWINIGAN The Government of Quebec confirms a $30-million loan for Taiga Motors, while the Government of Canada plans to grant a loan of up to $10 million to the business. These financial contributions will support Taiga Motors’ project to industrialize the manufacture of personal watercraft, snowmobiles, electric motorization systems and battery packs. This initiative valued at $125.17 million will lead to the creation, by the end of 2023, of at least 370 well-paying jobs in Montréal and Shawinigan.

Taiga Motors’ overall project involves, among other things:

  • building an assembly plant for snowmobiles, personal watercraft, electric powertrains, and battery packs in Shawinigan, in the Mauricie region; and
  • developing new advanced technologies for electric powertrains and an electric off-road vehicle platform at its Montréal‑based technical centre. However, this component is not covered by the financial assistance granted today by the Government of Quebec.

The $30-million loan from the Government of Quebec, which includes up to $6 million that may be forgiven, is being granted through the Ministère de l’Économie et de l’Innovation’s ESSOR program. For its part, the Government of Canada intends to grant up to $10 million in financial support through CED to Taiga Motors over two years. This funding is conditional on the signing of a contribution agreement between the two parties.

“Taiga Motors has the potential to become a major player in the thriving off-road electric vehicle market. This project aligns with our willingness to invest in this manufacturing sector to create a comprehensive electric transportation industry, a niche market with high growth potential supporting a greener, more prosperous, and more sustainable economy. It is through these kinds of initiatives that Quebec stands out thanks to its creativity and spirit of innovation.”Eric Girard, Minister of Finance and Minister of Economy and Innovation

“The confirmed funding for Taiga Motors and the decision to locate in Shawinigan are of great benefit to the city and its electric transportation strategy. The business will be a leader in producing electric vehicles for motorized sports. This niche market comes in addition to the market for electric vehicle charging stations, which is already established in our region, and all the related businesses in our area. This future plant is a dream facility that all Quebec and Canadian cities would want to have themselves. Above all, it aligns with a 21st-century economy focused on environmental issues and the future.”Michel Angers, Mayor of Shawinigan

Taiga Motors was founded in 2015 to design, manufacture and commercialize fully electric recreational vehicles. It currently employees approximately 100 people.

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