MONTREAL, Jan. 17,
2024 /PRNewswire/ - Taiga Motors Corporation (TSX:
TAIG) ("Taiga" or the "Company"), the world's leading
off-road electric vehicle (EV) manufacturer, is thrilled to
announce its expansion into South
America by signing an exclusive distribution agreement with
Comfort Indústria E Comércio Ltda ("Ventura" or the
"Distributor") for an initial term of 3 years. With over 40 years
of experience and 90 dealerships across Brazil, Ventura has been chosen as Taiga's
exclusive distributor in Brazil,
Argentina, Chile and Paraguay for its OrcaTM personal
watercraft (PWC). During the initial term, Ventura has committed to
purchase Taiga's products for a minimum purchase value of
CAD$13.7 million in revenues (based
on MSRP) with the optionality to buy additional products which, if
fully purchased, would equate to a total contract purchase value of
up to CAD$25 million.1
Through this expansion, Taiga is thrilled to introduce its Orca
line to a new global market. "Taiga continues to strategically
expand its global business, and Brazil being one of the fastest growing marine
markets in South America made
perfect sense," said Rodrigo
Arrambide, Taiga's Director of Commercial Strategy and
Operations. "This expansion in South
America will also allow us to offset North American
seasonality and further secure our Orca personal watercraft line as
a year-round business."
Ventura, one of Brazil's
leading and most respected boat manufacturers, was chosen for its
extensive knowledge and experience in distributing and servicing
premium, top-of-the-line marine products. Andre Motta, co-owner of Ventura, stated, "We
are thrilled to be the new, exclusive distributor for Taiga in
Brazil, Argentina, Chile and Paraguay, and offer our customers a way to
explore the magnificent waters of our region in a more sustainable
way." This collaboration is set to usher in a new era of
sustainable water exploration and recreation in South America.
"Ventura has been expanding rapidly and the addition of the
world's first 100% electric PWC to our portfolio further solidifies
our position as a leader in South
America, ensuring we continue to deliver innovative products
to our dealers and customers", added Carlos
Motta, co-owner of Ventura. An official launch will take
place in the coming weeks with the opportunity for test rides,
while a fleet of Taiga's most recent model, Orca Performance, will
be available in all Ventura showrooms across Brazil.
Orca: sustainable water exploration without
compromise
Orca Performance is a leap forward with an innovative hull,
battery and electric propulsion technology. Powered by Taiga's
sixth-generation integrated motor-inverter Tractive Unit, Orca
Performance delivers greater efficiency with up to 120 kW of peak
power (up to 160 hp) and 170 Nm of torque, resulting in a top speed
of 100 km/h*. The precision moulded hull has been hydrodynamically
optimized, balancing playful carving and efficient cruising across
varied conditions. This is coupled with a low centre of gravity
from the battery below the waterline, delivering leading stability
through high-speed manoeuvring.
The sealed lithium-ion battery has been optimized to safely
deliver maximum power across its lifetime under high vibrations and
saltwater environments, providing energy for up to two hours of
riding. Using standard automotive charging systems, Orca
Performance can be easily charged with the included mobile
connector overnight on any outlet, with Level 2 chargers in 3.5
hours or an optional DC Fast Charging to 80 per cent in under 40
minutes*.
Selected as one of the Best Inventions of 2022 by TIME
Magazine and winner of the Fast Company 2022 World Changing
Ideas Award and 2022 Best of What's New Award from Popular
Science, Taiga is thrilled to bring its EVs to South America and redefine powersports and the
marine industry by making them more sustainable, accessible and
exhilarating than ever.
About Taiga
Taiga (TSX: TAIG) is a Canadian company reinventing the
powersports landscape with breakthrough electric off-road vehicles.
Through a clean-sheet engineering approach, Taiga has pushed the
frontiers of electric technology to achieve extreme power-to-weight
ratios and thermal specifications required to outperform comparable
high-performance combustion powersports vehicles. The first models
released include a lineup of electric snowmobiles and personal
watercraft to deliver on a rapidly growing demand from recreational
and commercial customers who are seeking better ways to explore the
great outdoors without compromise. For more information, visit
www.taigamotors.com
About Ventura
Ventura has been Brazil's
leading and most respected boat manufacturer since 1983, shaping
the industry for over 40 years. The company has a remarkable track
record of delivering over 20,000 boats ranging from 19 to 55 feet
and has set new standards for quality and innovation. Today,
Ventura boasts a strong distribution network of 90 dealers
across South America. For more
information, visit ventura.com.br
For more information, interview or invitations to the launch
event:
Gabriela Schiavoni |
+55 37 99111-4344 | marketing@venturamarine.com.br
Annick Lauzon | +1 514 922 9225 |
annick.lauzon@taigamotors.ca
Forward-Looking Statements
This press release contains "forward-looking information"
within the meaning of applicable securities laws. Forward-looking
statements generally, but not always, can be identified using
forward-looking terminology such as "outlook", "objective", "may",
"could", "would", "will", "expect", "intend", "estimate",
"forecasts", "project", "seek", "anticipate", "believes", "should",
"plans" or "continue", or similar expressions suggesting future
outcomes or events and the negative of any of these terms.
Forward-looking information involves known and unknown risks and
uncertainties, many of which are beyond Taiga's control, that could
cause actual results to differ materially from those that are
disclosed in or implied by such forward-looking information. These
risks and uncertainties include, but are not limited to, the
consumers' experience, the Company's current and future business
and strategic plans, the expected operations of the Company,
expectations regarding market trends, uncertainties relating to the
economic conditions in the markets in which Taiga operates, vehicle
sales volume, anticipated future sales growth, the successful
supply of parts in a timely manner, the success of Taiga's
strategic agreements and other statements that are not historical
facts, as well as those described in Taiga Motors's management's
discussion and analysis for the three and nine-month periods ended
September 30, 2023, and under the
"Risk Factors" section of Taiga Motors's annual information form
filed on March 30, 2023, available on
Taiga's SEDAR profile at
www.sedarplus.ca.
Forward-looking statements reflect management's current
beliefs, expectations and assumptions and are based on information
currently available to management. Readers are cautioned not to
place undue reliance on forward-looking statements, as there can be
no assurance that the future circumstances, outcomes, or results
anticipated or implied by such forward-looking statements will
occur or that plans, intentions or expectations upon which the
forward-looking statements are based will occur. By their nature,
forward-looking statements involve known and unknown risks and
uncertainties and other factors that could cause actual results to
differ materially from those contemplated by such
statements.
All forward-looking statements included in this news release
are qualified by these cautionary statements. Unless otherwise
indicated, the forward-looking statements contained herein are made
as of the date of this news release, and except as required by
applicable law, Taiga does not undertake any obligation to publicly
update or revise any forward-looking statement, whether because of
added information, future events or otherwise.
* Performance and Specifications: Specifications are given for
informational purpose only based on Taiga's testing. Metrics (such
as weight, range, speed, acceleration and battery life) may vary
based on the environment, terrain, weather conditions, local
regulations and final build of the ordered product.
|
1 The
agreement does not contain any take-or-pay provision, although
Taiga has the right to unilaterally terminate the agreement in the
event Ventura does not comply with its minimum purchase commitment
during the initial term.
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/taiga-expands-its-business-into-south-america-through-up-to-25m-exclusive-3-year-distribution-agreement-with-ventura-302037131.html
SOURCE Taiga Motors Corporation
