But we are following the key steps of the path. And as I have said, we have line of sight, meaning we know the root causes of the issue and the corrective actions. We don’t have all of the details on when every corrective action will be available to us. So, that’s why we have not giving guidance today. But in the coming weeks, we expect to be able to give guidance on when we will resume production and deliveries.
Winnie Dong: Okay. Got it. That’s very helpful. Thank you.
Edward Hightower: Thank you.
Winnie Dong: And then a follow-up on the commentary of looking for sort of like a strategic OEM partnership as it relates to the Endurance. I wonder if you can maybe remind us and elaborate that on that, because if I hear correctly, you mentioned if the partner is not identified and essentially, you pause the production, or did I hear that incorrectly? Thanks.
Edward Hightower: Yes, Winnie, you heard that correctly. And it goes back to the guidance we gave last year in one of our previous earnings calls in that because the BoM cost of the Endurance is significantly higher than its selling price, materially higher than its selling price, I believe is what we said. It is an upside down margin on each one. The good thing is we know how to bring that cost down significantly through investments in hard tooling or high-volume tooling, if you will, said another way, and various VAVE projects, value engineering and value analysis projects that would bring the BoM cost down. However, as I have alluded to and as Adam alluded to, and as we said in the previous calls, it would be a significant investment to implement the hard tooling for those projects.
So, we believe that the most prudent business decision would be to bring on another partner whose volume opportunity, combined with our commercial fleet volume opportunity as Lordstown, would make more business sense to spend that additional investment for the hard tooling and the VAVE projects. So, we €“ our discussions with potential partners are ongoing. We think it’s an attractive proposition, not only because the vehicle is in the most €“ the second most popular segment in the United States, which is full-size pickups, it’s one of the few full-size battery electric, full electric pickup trucks on the market today, and another OEM could enter the market much faster by partnering with us than doing a vehicle and plant from the ground up.
But €“ so it’s not only that market opportunity is attractive, but the vehicle is fully homologated. It’s fully certified. It has been launched and is in the marketplace. So, we see that as an attractive and shorter path for another OEM who wants to get into this attractive market. And if we don’t find that partner, we don’t see it making business rationale for us to spend that investment, significant investment ourselves. So, we would likely pause production until that partner is identified.
Winnie Dong: Got it. That’s very helpful. If I can squeeze one last one in. Can you maybe color on sort of the trajectory of CapEx spending for this year? I know you mentioned some of what was not spent in Q4 may possibly be pushed into Q1 and Q2. Thanks.
Edward Hightower: Will you take that?
Adam Kroll: Yes. I mean it’s €“ so the comment is specifically related to Endurance activity that will decline. And you have seen it each quarter sequentially, their CapEx numbers are coming down. It just continues along that same development path, whereas you launch the vehicle, there is less, obviously, to invest in the equipment. Obviously, we also no longer own the plant, which early in the year, that also had its share of CapEx. So, it’s not going to be a material amount of CapEx in the very, very near-term. But as the program advances with Foxconn, then obviously, it would ramp up that.
