Ron Dutt: Yeah. There had been some of that, particularly related to the supply chain shortage of some of our big customers gave us letters of intent. I think if you recall, we mentioned that before. This is different. It’s related to that. It goes to what I just said a minute ago. Actually, it was a nice setup, Jeff, for this question. We’ve got some of our largest customers, our Fortune 50 type customers, 50 and 100, who are getting comfortable enough with the whole lithium experience because it’s just not, hey, well, the battery, well, the battery drives the equipment in my operation. It’s the entire end-to-end ordering them, delivering, are you training our people? Is there service? What happens at end of life? What happens all along the way?
Can you — are you reliable? Are you going to be around? What’s the delivery experience and can — is there ease of business doing with it? These companies run very complex operations. And what we’re seeing now, this $100 million is referring to one of our largest customers who are looking to convert their entire fleet in a shorter amount of time. These companies have 30,000, 40,000 forklifts across the North America. So — and they implement, they buy new forklifts over time. They don’t do it all at once. It would be too disruptive to the operation. So it’s over a period of a number of months to do this kind of thing. So this $100 million really reflects that beginning in the March quarter, we believe we will start to see that. It’s still a little premature.
I’m not going to give out numbers, but they’re very intent on it. The timing of the scale of that, as you could imagine, requires a good deal of settling down on their scheduling and plans. But we’re delighted. We’re delighted to hear this kind of thing and it’s been part of our vision and we see it with this one big customer and we see that, we see this as the kind of thing that can happen with many more customers.
Unidentified Analyst: Great. That’s really exciting. Thank you for that. And my other question is on this telematics integration with the Fortune 100. I know you guys in the past have talked about some different kind of recurring revenue opportunities as it relates to BMS and Telematics and things of that nature. Is that kind of progressing towards that type of opportunity with this specific application or is this just more of a kind of value add to engender better repeat business and things of that nature?
Ron Dutt: Well, it’s really everything you mentioned. I’d say the big driver on — we talked about — we introduced telematics on — in this material handling sector, I don’t know, three or four years ago. And the sector was used to telematics for their equipment, and it was all around planned maintenance. And so we’ve had to go up the curve of these customers getting familiar with it. Are they really going to use it? There’s a lot of things been sold to these people in forklift that they don’t ever use, include some of that telematics on equipment. And they had to see the real impactful value of this. So our sales of telematics have been, I would say, slowly building. But we’re seeing that accelerate now. And we have one of our largest customers here that finally got to the point that we believe is resonating, but they want to put it on all their packs.
There’s always some reason to know the health of it, is there a problem coming. If you can tell a problem’s coming, either we monitoring it or the customer monitoring it, they can go in and address a service issue before a pack goes down. Remember the biggest single sensitive point in this world is downtime of equipment. So this telematics is really providing the intelligence to address those issues. It’s really the fundamental tool to improve asset management, to provide product support, and we see the opportunity to integrate real artificial intelligence in this because we have the sensors, we have the data to direct very timely response to issues with their equipment. So this one customer we’re talking about is finally all over this. They’re believers and we’re excited about it.
