Austin Russell: Let’s do one more if we have it.
Aileen Smith: All right. I think in that case, we’ll take our final question from the same platform, which is what is the outlook for the next five years?
Austin Russell: A lot of growth.
Tom Fenimore: Yes. World domination.
Austin Russell: But in all seriousness, I think next five years, we got a lot ahead of us here. I mean, literally five years from now is 2029 when the new regulations go into effect. So that’s going to be quite the show. There’s a lot that we have ahead to be able to do. Of course, like I said, we’re realizing a massive amount of growth that’s going to happen starting really in the second half of this year when the order book starts converting. We’re going to realize those economies of scale. We’re going to really start driving this like no tomorrow. And I mentioned in the letter and at the beginning that in terms of the strength of our business, and fundamentals of what we’re doing, could never be stronger. And the reality is that if we’re able to achieve, even a fraction of what we think we can over the next five years, that’s a huge win in the home run.
And the key is just being able to make sure that we can continue to differentiate ourselves. Obviously, there’s skepticism for this world and type of company in a world of EV start-ups and other kinds of autonomous, fully autonomous vehicle companies and other things that haven’t been able to deliver product, or in the way that they wanted, or LiDAR that wasn’t able to make the technology work, et cetera. We’re in a world of companies that are challenged. And that’s where I think being able to show how we can continue to succeed, from where we’ve come from, from when we were first at IPO, and developing a theoretical technology concept into industrialized product, to being the first to launch in series production, and scale going from one to a dozen major commercial customers and wins to now having a clear path towards broader standardization.
Future couldn’t be brighter for us. Key is we know what we have to do. And that’s not to say that there aren’t headwinds. We know the macro headwinds that in a broader scale that have come into place, that’s clear to everyone. And it’s not lost on us, by any means and we’re tackling it head on. And I think that’s where you guys saw some of the restructuring actions that, we took place on Friday. It seems like it was a surprise to some, probably shouldn’t be a huge surprise given we’ve kind of signaled that. And the reality is that as we’re talking here today, over the course of the next five years, there’s going to be other drivers – of efficiency that we’re taking. And it’s not even going to take that long. I mean, we’re talking literally over the next 12 months.
This is the first phase of what we’re doing. There’s a lot more opportunity that we have ahead. And we’re going to be fully capitalizing on that. So I’m very excited for what we have ahead for that timeframe. And thank you everyone for being on the journey with us as we make that happen.
Aileen Smith: Okay. Thanks everyone. That marks the end of our question session. I’d like to thank everyone for sticking around and participating in the call, and for the analysts that asked the questions and investors and other folks that joined us. We look forward to talking with you guys next quarter.
Austin Russell: Thanks everyone, guys.
