Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Q4 2022 Earnings Call Transcript

Harold Bevis: It’s very small. The big picture on what we started in 2020, we had only ever been on off-road ICE vehicles and electrical systems. We jump started an on-road vehicle program and went straight after electric vehicle startups. It has and ICE, but primarily focused on electric vehicles. And the majority of our new business wins have been on the electric commercial vehicles and secondarily, on-road and secondarily ICE on-road vehicles. And we are continuing in that manner, with no modification. So we have a program that’s working and we’re have kind of an evergreens all we’ve set up so far to continue growing in that area. The example that we put in the deck with the electric vehicle, electric van example is exactly the type of programs we’re pursuing.

We’re pursuing multiple delivery vans and multiple work trucks. And when we get in there and we get it to be an approved supplier and we win an electric vehicle program, we’re immediately an approved supplier to bid on the ICE vehicles that are in there as well. So if you look at FedEx, Amazon, UPS, Bimbo Bakery, any of the delivery vans are out there to their ICE and they all have ambitions to switch to EV and we’re right in there as our proof supplier. Our electric systems on the low voltage side don’t care what type of the powertrain it is. There’s only a high voltage opportunity when it’s an electric vehicle. So, we have a solution for both and we’re going for both of them, Steve, equally hard.

Steve Emerson: Excellent. And I assume by your comments that this year’s going to be quite backend loaded in terms of EBITDA. You’ve got the two plants starting up and startup, let’s say on the EV van program.

Andy Cheung: Steve, I would say this year I think we’re looking at pretty even quarter four out per year because we see continued Q1, Q2 very strong production. As Harold already mentioned. Clearly there is a little bit of extra risk on the market of the second half, but we have improvement program in place. I would say it’s pretty even with not very extreme.

Steve Emerson: Excellent. Thank you.

Harold Bevis: Thank you, Steve.

Operator: Thank you. There are no further questions in queue. You may proceed.

Andy Cheung: Very good. Thank you everyone for listening in and we look forward to performing this year, short-term and long-term and reporting out on our results in our next conference call. With that, Joanna will end the call.

Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and we ask that you please disconnect your lines.