Ken Manget: Yes. We expect to be discussing that in the coming quarter or two. We’re exploring a number of diversified funding sources, which leveraged some of the background I was describing earlier.
Tony Aquila: I can add to that as well. For example, we couldn’t — prior to getting some of the legacy matters addressed, especially with respect to the SEC, we couldn’t actually file for things like in the Department of Energy loan program and things of that nature. Now, our opportunities are exponential for us to access capital as we start to establish this management team’s track record.
Operator: Our next question comes from Craig Irwin with ROTH MKM.
Unidentified Analyst: Hey. It’s Andrew on for Craig here. Thanks for taking my question. And just a quick one for me. Great news to see the — over 300% growth in orders this year. I was wondering if you could just kind of give a little bit more detail on maybe where you’re seeing strength in demand, what segments, mix, order size, just anything additionally that you could share would be great. Thank you.
Tony Aquila: Yes. Sure. So look, our orders have been around the Grade A, BBB credit type customers because we know that’s going to reduce our cost of capital. But in addition to that, we focused on customers that have unique workflows and for us to meet those workflows, so we can get multiyear long-term orders. And these are generally higher margin because the customer gets a very good return on capital, and they’re higher margin for us as well. So, the mix has been primarily focused around the LDV with limited units of the LV and primarily large, medium-sized fleets. We are working to figure out the allocation we can do of the orders and the order book to the small and more individual users. So, we get distribution to some of them, but we’ll be doing it on a very concentrated rollout so we don’t also have the same problems that some of the other companies had with mass rollout of their vehicles because you do have to anticipate some service, maintenance, repair, support items.
We come out of this area from our past as well and built a great team that has worked for us before that is leading that initiative. So, I think very concentrated, large orders, get our book up to where the credit rating is really good as we look at some of those non-dilutive financing items that we’ll be announcing in the coming quarters.
Operator: And our next question comes from Jaime Perez with R.F. Lafferty.
Jaime Perez: Tony, do you have any update on the Walmart order as far as how is that going along?
Tony Aquila: Going along fine. In fact, they’re here today working with us. We’ve got a pretty robust delivery schedule. Actually, we’re trying to taper it back just a little bit so we can distribute some other customers as well. They’ve been an amazing partner for us to work with. And we’ll be delivering vehicles to them as per the schedule that they will announce shortly as well as part of their bigger fleet strategy. So, everything is moving at or above what our original expectations were. And that’s probably all that’s appropriate for me to say right now.
Jaime Perez: All right. Fair enough. Yes. I think that’s all the questions I have for tonight. Thanks a lot.
Tony Aquila: No worries.
Operator: Our next question comes from Pavel Molchanov with Raymond James.
Pavel Molchanov: Now that we’re 100 days into the Inflation Reduction Act commercial EV incentive, the first tax credit, is it too early to say how much effect is it having on demand? Is it stimulating the market the way it was supposed to?
