Aeva (AEVA) 5 Mar 242023 Q4 Earnings call transcript

Good day. My name is [ Shimali ], and I will be your conference facilitator. I would like to welcome everyone to the Aeva Technologies Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded and simultaneously webcast.I would now like to turn the call over to Andrew Fung, Director of Investor Relations. Andrew, please go ahead.

everyone, conference fourth call. welcome, year and and earnings XXXX you, to quarter Aeva's full Thank

statements call CFO. on that call, risks Joining found statements subject can of representative Salehian, as and be which CEO; These website Aeva's we subject are Aeva's Relations uncertainties the our full on forward-looking Co-Founder based assumptions of not and on current on which expectations. call variety could cause making date.These release investors.aeva.com.Please we that as only to statements to to our at and our and to expectations today year a are XXXX will will Saurabh Investor actual views views and of and should upon results uncertainties. fourth refer issued today be be as and our risks of differ we from are this press Soroush of Ahead and relied note quarter this presentation, subsequent reflect Sinha, materially and today any

over not as Investor call that, our webcast for Soroush. on performance. XX-Q including risks most financial measures a could The measures link.And will will measures, under in our other substitute of of to are should as the SEC, a discussion me non-GAAP website believe turn the with available the useful and further non-GAAP These and Form in and considered to company be Aeva's supplemental during our addition, today's this call let material GAAP refer call, the financial important with isolation to be affect factors or Form results, For recent of XX-K.In discuss replay please filings that results. Relations from our addition we which we

lead announced LiDAR Daimler for continue afternoon, highlight would selected supplier to a beyond. number we puts reached Aeva position XXXX vehicle their like to CES, that Andrew, was at FMCW, of LiDARs in Aeva. critical as and you, exclusive production good growing and of accomplishments.First, strong series believe adoption and Truck us to in year landmark a program. in ultra-long-range to for long-range Thank the a automotive I milestones of our everyone. We key we be

production Truck the our discuss opportunity, is Daimler the capital also we debt. existing the for Atlas, The an LiDAR execute vision, a software.And components first automotive to on-chip of program Nikon, our in support system industry. industrial developments. deliver new only and silicon our core where production the module, for Mobility high-precision largest maturity reputable signed platform, generation including one XD long-range Tier our exited breakthrough of the for optical our A even vehicles. which OEMs now in to with as demonstrated processing processor As innovations, is ultra-long-range significant to and speed is at XXXX detail This largest the starting most program the SOPs X new utilizes towards Class to world's world. on highway first massive also both vehicle and vehicles indication LiDAR. validation positioned both a multiyear is program, XD for strong XD position Aeva Daimler OEMs has production of Aeva size agreement Atlas positive secured vehicles.In and a their fourth but to to and and clear Daimler unique to commercial X our Not mass inspection in beyond in designed elsewhere, highway micron-level and be technology precision will LiDAR signal the Freightliner's act production our facilities will for advanced commercialize leader production additional integrates win Aeva's has Daimler operational very growing manufacturability Truck, we powerhouse used recent even this as silicon as million shift platform FMCW we design series for all XXX,XXX in onto autonomy our domain broaden XX, no a of as of Daimler agreements of of volumes latest appreciation perception pipeline.Let's significant LiDAR-on-Chip one a well around enable launch, development This photonics with smaller customers such $XXX In will and direct Industrial, validation the production. which ADAS a May functionality and Truck series scale.Our first wins technology deploying business grade power with Tier auto is the industry's supplier performance, cash of supplying Aeva financial our we with autonomy production Truck's in announced and LiDAR.Second, leverage as commercial production well maturity a from May products.Third, and with annually. enable world's where Aeva a for and autonomy Truck in will ability and XD and more LiDAR-on-Chip we the more highway technology agreement which Nikon's technologies, committed fourth, of

to of of period, are over book working over start we the Daimler to Daimler multiple de-collaboration level order significant the closely in Truck's will than vehicle a Together XXXX vehicle the of integration Aeva's lifetime independent a sensors integrate higher ramps Truck. Truck's that Daimler typical our that vehicle the with by developing This multiple perception rate a of years with of work number production AV support modest stack and towards in ramp after estimated content billion per program.We win $X with and estimate results subsidiary, multiyear multiples Torc, passenger of sensors is comes a production forward-looking per We software.The program. take XXXX. also

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to key stack, a focus series in key commercial for we already next series ramp.Let's in is leaders vehicles $X ownership awards the requirements Daimler in X with to supplier for a rating to them in a engaged manufacturing operators, They starting the the their reach Truck the multiple no from vehicles XXX,XXX LiDAR Freightliner to autonomous XXXX.From hub-to-hub well strong has at [ production in category becoming annually.As highway week, commercializing while publicly stage, scale autonomous strategy the of Truck to improve also months. continue X winning and They operators off. real-world production Aeva the we passenger rest autonomy. want understanding production next England RFQs, the commercial our for strategy, in the and Daimler growing meaningfully and top enable industry have including automotive sensors for turn markets XXXX. strong commercial large top to We use Daimler for and new validation of XD are part first we is a programs ability logistics are reducing supporting scale.We where representing customers step FMCW the our we XX% programs. X Daimler win we and this a of is America our cost as safe selection the to be needs customers top market vast Aeva's production of by growing buyers strategic at for annual market mass Daimler vehicle within is in of vehicles positioned including incredibly engagements well the and can fleet Daimler large and readiness LiDAR CEO of experienced of with next-generation such market capture OEMs are deep proud an X a with feet Daimler And the are to scale and with The of as highway there, same thrilled on path Level with speeds.At momentum most confidence expect engagement expect our we technology, the positioned the progress being to technology new And publicly billion OEM interference Based critical the our participants strategic program our as reaffirmed pursuing of partnered marked all solutions. likely currently program.This keeping operations Truck's and the as on Aeva Daimler act a with as commercial vehicle our look Truck shared number plans adoption partnering move end is in autonomy of direction.With highway in organization. on highway of of a number incredibly additional to momentum. plans autonomous FMCW, to volumes because around commercialization a X last volumes on software OEM. North is for Daimler pay subsidiary, focus of an new of to this together.Aeva's vehicles, pilot about to contribution production X Aeva, long-range representing They're Truck multiple OEMs total growing Truck in Torc, costs.As passenger and with points multiple highway C.R. is year, segments Truck has commercialize OEMs, deploying Aligned on met XXXX efficiency with our volume of of are at FMCW OEM call autonomy track industry earnings win, immunity top selling who instant to shared to adoption FMCW is clear, in leading to at I quality the multiple with annually small North maturity the the LiDAR, RFQs north be XXXX.Following earlier, gaining Schneider achieve autonomy have Class to now by traction a its enabling leader award are implementing that autonomy top in vehicle with share. programs platform, global X are now now and automotive. and Daimler Truck's at is began its This Class for forward and is a to share of uptick U.S. production commercialization, hardware, that with to enabler first we X majority drive for FMCW ensure the of of Tier for to series X significant start is going for converting to The advantages global XX% with point autonomous see progress as on especially have the velocity the XX includes objective why a to insights received passenger company a trucks. logical automotive which to the production.As see fleet mentioned continue industrial. continue production well Class decisions passenger XXX,XXX inflection this platform to traction the of ], deploy their and a vehicle we of are Truck and deployments make to Truck to and section starting to the the have their the In a highway Truck can with leader this, it in operations expect X adopters XXXX. trucks.Importantly, fundamental opportunities passenger America as capabilities of continues to as strategy commitment units for speeds.In Class vehicle of our and proof seen opportunities in series FMCW OEM. Daimler seeing, future revenue respective XX highest starts and to is

being begin our on launch commercialization X months.While on also of for awarded work expect the industrial the these start continue we this production track first program by programs X Nikon. in to we We next to year to end with additional are to wins,

comes windshield. of new integrates system multiple in-house investments, OEM cooling in over our validation.As software. and consumes generation, to to SOPs latest the automotive industry's automation our the Atlas, in to first our behind LiDAR with for automotive scale development. converting XXXX. with We momentum programs adopt designed on Atlas in product XD grade production. growing production is Truck scale. this our CES, At to discuss high our the leverages Atlas.I enable target will focus production automated our year, architecture introduced for speed unlock like go to to production follow demonstrated goals and major integrate would will as mass powerful now earlier scanning which is enhancements, cloud enables Atlas industry XXXX and this including conventional Aeva's vision, XX, this is power the on-chip knowledge, by and silicon at At fourth-generation reaching We a highway Atlas photonics starting FMCW a of which OEM even Daimler by processing, to result that XXXX.Moving Atlas the we first completely and silicon SOP.First, fiber-less automotive for additional To seamlessly world's our preparing believe utilizes for first such proprietary latest to module, and development application data innovation, components now acquisition, at smaller optical FMCW X after remains module.Compared powered high-performance options to commercial of first addition, an winning affordable smaller our silicon awards core we the passive the is these solution LiDAR-on-Chip all XXXX. which and manufacturability on LiDAR, continues for and level, previous years integration the key cost.In while Aeva XX% is of time-of-flight X/X point to ability assembly the is new our LiDAR

to on includes our RFQs vehicle finalize we our number our complete completing design solutions.Second, production, global the next-generation XX qualified financial we plan final on a production these we positioned a similar as plan automotive Atlas our maintaining of automated companies we with investing, leading new the our we to SOPs.And me around and Saurabh. and to leverage of of ] and also first Saurabh to line discipline With with qualification We validation fourth, In balance are while plan sheet wins, the products.Third, automotive engaged iteration passenger we growing OpEx have over engagements and a Industrial, ahead well that, our [ we XXXX. to turn This current strategic looking FMCW in levels of approach position to past demonstrated starting spend for unique and execute next, chain ].As to plan approach in complete our the deliver and including supply years, momentum accomplish FMCW.With our on OEM. deployments XX as objectives convert of discuss over we the to strong let SoC to see top Atlas to with target the maintaining call [ XXXX. are in will opportunity strong

Soroush, and afternoon, Thank good everyone. you,

Let's Slide results. to move XXXX by the shipments.Non-GAAP year the $XXX.X year million. for financial II $X.X million, XXXX Revenue was full XX Aeva's XXXX for full was loss review driven growing Aeries year full operating to

In comprising We million. also product be year-over-year our cash us increase to expenses, sales in prioritize with positions existing we facility. $XXX opportunities and use, Aeva than XXXX disciplined wins.We lower totaled with potential we less cash capital on and ended the effective and remain which beyond spend, multiple SOPs million stock-based expectations similar million XXXX, expenditures disciplined to flow facility, commercial RFQs both and of cash XXXX as production managing in.We build expect add our excited programs their other cash leading charges are are $XXX large-scale came targeting additional XXXX. expenses, to to production operating XXXX engaged annual in to and nonrecurring This of players, continue $XXX we million to which and excludes securities strategy, continue be well currently production with programs. equivalents slightly to in non-GAAP with cash, and new and Aeva's gross support operating automotive to marketable $XXX.X as our with which define line better secure compensation our will in outlook.In operating such momentum

me back As expect our of and multiyear provides turn sheet level closing balance capital runway, the remarks. as executing a that, significant call we solid result, continue on we Aeva for to a let maintain a our to Soroush plan.With

a Saurabh. and Aeva. that, the for [indiscernible] we thanking would line enabling have SOP.I we'll autonomy adoption growing highway another what coming now phase continue really OEMs.We're in proud production ] the highway additional world's at and off industry.With We to to XXXX. in multiple from major as you, Aeva FMCW and to what OEMs achieve of win for in combined first excited Aeva XD store automotive we year successfully largest questions. aim vehicle program commercial I for hopefully incredibly our strength team by FMCW XXXX functionality the finish We like more support our to of to our for Thank industrial, even performance to tremendous speeds. production such transitioned momentum Aeva with of even as awards accomplished of lead up more months we first play industrial the automotive wins the am with strong open with the with one expect to development to [ towards start execute for to highway and including central advanced in the and XXXX a automotive role customers.As autonomy, driven financial deploy and and maturity additional by start commercial unique I the am LiDAR, and to OEMs the in anticipate

from question line first [Operator Rusch Oppenheimer. Our with Colin comes of Instructions] the

and of of with sole you as shift these seems in of a go-forward enabling their build the up to agreement you like a conversations, the and around the FMCW, platforms really FMCW As kind kind these technology basis? talk look Daimler trying the source you're clear suppliers taken about licensing which a can adopt allow you real and at at to leader tone to a the they've customer little practicality scale fundamental on or on a multiple look strategy bit customers

Sure, Colin. Yes.

So really market, the passenger also mentioned some folks to how including autonomy scale call mass proof really speeds. I kind the on bringing and view especially they global the probably is now key in at leaders you we're FMCW OEMs starting also seeing already with of automotive, moving increasing have in had have excited a currently we the start actually future And this over with are the in increasingly this the with represents right? an next -- in to forward, commercial now scale of passenger Daimler that, phase their passenger the we some aligning with off.We're highway About especially first volumes, is our achieve market highway side, that's autonomy. think of show that tackle momentum our the folks this as enabler we've ability I at we're similar a that pay And large majority the talking that that already of since the year to of additional with strong.As X seeing call, right?So vehicle mentioned been new XX experience we complementing the to to have trend really that we're Truck pointed plant.Especially the for are starting engaged OEM. on going -- LiDAR talked share, really win FMCW initially, as multiple for about happen highway top focused OEMs all, that to to on to as So and RFQs, time. of now strategy uptick that top about vehicle expecting up programs with in the market significant winning this with XX% customers, X

seeing -- interest. in we're in current the So increase that market, we're an

intended resources. fully to We are the on that. capitalize have And we

team. We have the

] to us right? a months on happening happen we're these to allowed really that.And year, decisions focus Tier architecture, is I number on award has mentioned FMCW the X gen expect our chip -- X this the announced that we've our win This but in kind decisions -- with that LiDAR fourth chip it I module. as It but think allowing and SoC, our the start at we is [ which balance strength scale final And sheet to and all for backing the and mentioned, financial to So achieve of has demonstrated Daimler next the us the call, kind expecting soon, what's the of as Truck side, us Atlas supplier X already to the being the to mass to right already field come have first final see.So I is production. to with generally, to final support of right?So CoreVision, the of a and what has envelope. the this world's having We is these financial CES. power products

that we'll progress towards year working line manufacturing obviously, can. share progress And making and ready, the throughout fronts. we as getting we're we the also all So and across as more

side? And with then just is you a get cost and where sure there of on you you're with how some making time cost higher end smaller volume as about structure heavy of you through this you amount the manufacturing lifting this de-risking the volumes? follow-up. into certain a up But scrap and period talk a Can just that process year production, move

sure. Yes,

the have And up over architecture we of right?So is multiple in to our we with I And as to on-chip our Aeries this we you reductions. of significant significant the last of years with right have of of architecture With chip, to volumes step demonstrated that SOPs. which all, final terms remaining final It's the mentioned, cost.With the couple bond cannot a terms really SoC, the shortcut. And the of that as get sets for with [ XX% X-plus to years target is the the investments it years That us now need result products. optical those started us we Atlas already things get where since a II already bond of shipped like amounts II, in and now ago. we that's cost solutions. by well ] released from efforts, we Atlas, Aeries -- time close first side, we of taken iterations the Atlas, the to now CoreVision already first on when go So here. us silicon sample on significant ] are both already these -- of [ multiple taken used

-- on, from Atlas design So here is fixed. the system

We reaching by the the qualification are I Daimler 'XX. focused the months start SOP and next with mentioned we automotive and then 'XX to the so we or scale next XX where -- product, have on now the first this XX SOPs.As of in year on them Atlas from getting ready for call, there with Truck in

for in us mass for support qualification manufacturing automotive already It's that's also past have been the of production.And the couple the years. is for getting doing that line, this work that line bringing automated up of really beyond our team we strong we assembly I the front here qualified the ready So our mentioned. of have design

So this. feel good pretty we about

clear that that I line on mentioned. a are just We we the have on, time plan executing

Our of next question comes Richard line from with the Shannon Hallum. Craig

I'll Maybe kind tactical a ask one, looking at much XXXX. here of just one a simpler

give if look for like? bounds Nikon think I probably million just like I'd like for the starting structure what what anything wonder like around million the $XX not year from and about estimate you with here consensus of of see year. to here. last get on But May gave of OpEx much I to you're late We we're a to You leaps year, here. -- thinking your broad in us seems want going It doesn't about sales compared sound sense this sense sales to [ thinking a sense rough ] -- love Mobility.[ us ] looks have XXXX could $X about just of

Yes, Yes. Saurabh. this is

front automotive. industrial both on the momentum in we are seeing So and strong revenue

in revenue That applications.As on 'XX. to focus to earlier including of full be and continues are other at multiple seeing 'XX automotive We work are number expand we will by our on call, continue opportunities passenger and opportunities in increasing to of discussed car number we from increasing to least there. the seeing said, we XX top And in large of XXX%.On shipments RFQs, year top we executing towards that. expect OEM we that, grow production are on in being the

My and here. hitting just opportunity on Nikon question industrial general follow-on is here the

year. want be just take to I ramping here?I think you're that over how sense with of you going is going to late this said or get ramp we a to I up, Nikon of time this see many general assume what starting ramp peak of to to be a helpful. have that can and Would we perceived level idea of. I maybe peak ramp characterize you're eventual here. kind to years But there? thinking no get very kind

is Sure. This Soroush.

Nikon, the a side has the of typical we've is This commitments that mentioned ] and has key that side the minimum production to as through with the are about ASPs is strong market. ] year XXXX. think is significant [ a volume [ the it differentiation compared on volume obviously, in Nikon that than the a of So significantly [ multiyear share, program, right?So [indiscernible] side, includes on a industrial I program past, the automotive double-digits And auto kind ] higher higher. really metrology

in be talked they is mass in about. of up. but as units.So is ASPs, the there. market, obviously, expand the metrology the it's a something combined that thousands us opportunity There that same volumes, scale expect see for that -- scaling from that's So and not automotive, ramp-up production through a is multiple to And have we obviously we in 'XX revenue publicly considerable with clear, just this

would beyond by, to talk -- so X with manufacturing, I see industrial expect precision -- already Nikon, to we're share, think we first to opportunities other or the and this we're of as just to as will opportunity that this months we we But applications working automated add about, is really that to significantly, I also to for a on metrology There XX focused that, potential auto see assembly right, which expand. is say, are industrial period. we has for applications simple after number 'XX are on also, in that just able program grow others.But to more peak assembly. reach aerospace which year doing the an that business we ] [ assembly, auto

Our next Suji line question comes Partners. of from with the ROTH Desilva Capital

on the here. Congratulations progress

the opportunity, talked that already in contrasted on go happening [indiscernible] Daimler? guys the guys through the if And happened? the is the with curious passenger? across pipeline, software it's get that's So global how the just much you working from effort year.If with top you how new far maybe already different are I about those XX, the including along integration if when you think passenger 'XX I'm trucking

Suji. the Yes. question, Thanks for

we of We're the part faster momentum And with programs. them. space. a with programs additional lot a all, the we that So the we first increased is also for what win core and Truck, see are of work have the are of in obviously, leveraging that done reason the side, platform Daimler why that's seeing led to progress on on opportunities we us engaged that

of autonomy we done all see get Daimler looking a led make efforts working.And bet Now of have number level means are that the already that to future speeds that next are that which to progress programs highway the those with the stack, winning highway how we on programs. they passenger we us to functionality also their on Truck, you leveraging proof

already. some OEM time So for we've been engaged with this

scale.And This our if process. is the more, opportunity of not the this Daimler considerable, size timing is Truck We to with that are going see a production in something similar is at OEM, the quite same significant, with global one largest that through around frame. least as in world RFQ we the significant time

think I quite So increasing opportunity we're for a time. over that's exciting of activities going a pretty through number intensely us.Obviously,

that we go the the with this and longer But we're actually that not So lines when. getting will pretty as it's on matter further, passenger will of RFQs.And for this program We're on. as be It's time share better matter for we shifting more, further quite timing also from that positive to about we're is can process is of it. be if engaged there next-generation a feedback the the aligns through exciting a technologies, we this a multiple the clear, OEMs definitely some working think we to really do of And actually but our we're and transition with that time I 'XX of this to us.And only see so. OEM is enable and line, excited SOP no FMCW towards us.

looking sure the really some from similar are with decided next-gen thing for the is these in and that's to to feedback to that they X make It's highway see months is to right? autonomy we're that also happen scale so the mass not that they Daimler now also years the that we And volumes have SOPs being months expect time Truck. from that X important of be there's technology seeing folks to the as right start something from decisions in we now, to frames now. application.And

quite So it's encouraging.

about in my then the RFQ is And pipeline. follow-up same the

being the terms it the if plus, than you Is or these if Any about color are Can targeting, around hybrid? they helpful. LX, premium or opportunity. put talked You you larger color passenger? attention EV, for they're some LX of where drawing similar there maybe mainstream initially where you're LX, of programs would they're kind And in them? from you're OEMs, be intercepting it time

absolutely. Yes,

what mass ] becoming less is seatbelt [ scale, similar really to autonomy to the almost across in which provide was. and And think platforms. on it's highway, stakes table focus be the I OEMs more for more phase, next to the or on functionality going the this more

to of to not going high take instead talking many small seeing.This portion, a at -- we're is that years highway what is X that's really that's autonomy. something levels So and the it come is level is super super that like about

how becoming as across table this that lines OEMs. technology so is And lines It feedback completely -- increasingly is as more getting. platforms. safer is and scale see like across the premium to engine many and the we're viewed different automation the for speed powertrain car highway provide stakes both the for many I car of mentioned, So is agnostic, EVs.So we combustion that's the

is something end. So say, high as it's some not perceived super just, let's that

comes Capital. line question of Kevin the next Garrigan WestPark from Our with

you you talked Nikon about you on is after more industrial Or both But commentary other from I focus some market. have to based automotive markets? to other switch few other it like focus now really So all away in would trying know market industrial from the really later seems still and Or opportunities go towards launching win LiDAR resources add in putting the auto about and focus resources year. to on awards? auto? your guess this will need on I you and companies.So And to just a ramp industrial you order

-- fact Truck I other would we take this consistent as Daimler now term one in the program we manufacturing So The the building of others the our into have innovation to same fact already our right? and future fabless. technology of and to call is May platform we say, finalized that development, place but that have beauty Nikon and to year, because is now in we had Last platform, the other and to to launch of different the are the surely software-defined, strategy Nikon compared heavy you also application automotive sufficiently of that we obviously we with technologies, on to our to to same with day the up. be same 'XX, secured continue much, that be year, second staffed and all new would from Atlas chip have which and into automotive [ our into platform, building materialize X starting already We have do our on goes done us to released shift support additional of hardware, for production is continue think processing already big this is core for software-enabled different a with key that's need 'XX growth is that's been Look, we technology.And to this is right? with resources points, same coming to -- and able [ for line a differentiators say I now not we frame core that end have product the future 'XX, the core our we similar we that X, components. wins, SOP means space. goes But course, we the Aeva.This programs.Of is, a for Truck seeing support programs. platform these have [ same as Yes. team multiple to software be technology lifting OEM programs a that module CoreVision that team The deciding] Aeva the achieve ] ] in the that of of in the now industries say, now Each easier allows platforms. of FMCW others, ramp [ are support industrial our time I same our based because multiple and Daimler are to right? all to, in flexibility something year to here. Nikon, Atlas the automotive of perception near add is [indiscernible] it's multiple mentioned, do differentiation in for massive would performance think those So what thing able are much this we the platform many the the with specific. year, on what I ] Industrial.So that others and I that that's points And which next-generation

We been CM has about move strategic this And that. we have model a from also light X CapEx. day with a really thought that

from both see to they of kind have of the in OEMs the they're largest something scale based allow the OEM Truck, reasons is the requirement that work those us to going team and application.So sure and we for a reliability, Daimler, in so qualification we through with aspects design the more is top customer we that rules that, continue that, space, having as of us part.So makes That that largest, for a not the ] covers partners stringent additional of then significant the because if expectation critical manufacturing first resources it terms saying with doing long of fact believe of even support superset are ] also that for mentioned. all And with [ in quality think all Daimler that that even perfect somebody for durability.And in commercial space based have [ support do the wins and on work which of answer work, is the are we for in has ] the kind continue sufficient they Both to no, will qualified. these lead making sufficient helped been the on passenger vehicle going that terms into the to them that automotive have ramping up. and a we I some that I program one the certification all of production applications. of industrial production, automotive that is on and of As [ go such lifetime than that design like requirements, leader, of

And follow-up. quick then a just

partners. you or win with would to with a them, an have talked If manufacturing But additional ask current X lines X or enough to manufacturing kinds RFQs? manufacturing RFQs -- are to of they for you -- Or partnerships that X your or I add another know line? about X were add you are capacity just you them your have new

Yes, absolutely.

we this now have are exactly and line is of all And that the that efforts we our increasing doing. planning part So been year. manufacturing

are to customer which the capacity the of seeing our additional for is we're is capacity.But a able see time FMCW, timing because support not [ years line additional that close from years -- this when of capacity you sign as existing matter the SOPs. capacity that ahead ensure a the so if, that build from number aligning to ] available, And timing to -- program huge in just right? build for but that positive advance. key we for to But pull we gives again, you opportunities. As of actually this haven't transitioning feedback couple can we plan wins, us already to we a not usually and our these market obviously, of already the I with additional shifting know, needed wins that SOPs, time replicable are of also building go Obviously, the in support we be we which out we both said, partners, a when.And customers it's headed is key our space We as of of a a kind is passenger no or with industry. the and the that's sufficient so, bunch matter yet side where some once of don't those longer happen on of work existing the of to is that the known is and including see we're is that not

At time. we lines today's end reached disconnect this participation. concludes And the may this your the at this question-and-answer conference. your of for time, session. And have Thank also you you