The Montreal-based company, which makes electric watercrafts and snowmobiles, said it will pause vehicle production and temporarily cut about 70 jobs after “an unusually mild winter that negatively impacted the snowmobile business.” Its Toronto-listed shares fell over 53 per cent. (The Logic)

Talking point: Taiga made big product investments in 2022 and 2023, after the pandemic fuelled a spike in snowmobile sales. But now companies like Taiga and Ski-Doo maker BRP face a different business environment. Interest in electric vehicles is generally plateauing, and El Niño hiked temperatures this winter—even as the winter sports season was already getting shorter due to climate change. The company said it aims to help dealers grow sales and improve inventory management, after it produced 417 vehicles in the fourth quarter but sold and delivered 242 vehicles. Taiga said it’s not providing financial guidance for this year or hosting a conference call for its fourth-quarter 2023 earnings.