Swamy Kotagiri: Yes, I think most of our–if you look at the general sales for overall powertrain, a significant pace I think is in the 48 volt, substantially in the hybrids. There is a product line that we talked about in the PHEVs, but it’s predominantly in 48 volts which could be applied to the PHEV part of it, and pure EV switches in the A-drives.
Chris McNally: Okay, and then the only last bit of detail, within battery enclosures, since it’s new and obviously there is one large platform that you discussed a win on, how diversified, if I look to 2025, is that $1.6 billion? Are we talking a handful of OEMs or is it five to eight?
Swamy Kotagiri: I think we are talking about eight OEMs, Chris, but talking outer years, that’s included in the projections that we mentioned in the figures. That’s eight OEMs–
Patrick McCann: And that’s global.
Swamy Kotagiri: And it’s global.
Chris McNally: That’s great. If I could just squeeze one last on pricing recoveries, obviously we’ve talked so much about EVs over the last week that we’ve kind of forgot about the older issues that we all used to talk about on Q2. Could you talk about the pace of recoveries, how it’s going, maybe just what’s left, and in terms of–you know, could this be an extended tailwind into ’24, because obviously you get the annualization of any price recoveries you’ve gotten in the second half. Thanks so much.
Swamy Kotagiri: Thanks Chris. We’ve been disclosing, I would say, the net impacts rather than specific amounts, and if you look at certain costs in energy have declined, there is an improving trend in commodities in certain cases, and I would say we are on track to obtain the recoveries necessary to meet our outlook. Maybe a little bit of color – we talked about the $100 million at the beginning of the year as headwinds, and in our last call, we talked about that being reduced to $50 million. As we stand here today, we are at zero – that means the $100 million has been brought down to zero, but we continue our discussions and the focus still remains on all the things, whether it is operational excellence, whether it is looking at every program, and continuing discussions with customers not specific only to ’23. We have always talked about looking at it holistically from ’22 and even going forward, planning into ’24.
Operator: Thank you very much. We’ll proceed with our next question on the line. It is from Mark Delaney with Goldman Sachs. Please go right ahead.
Mark Delaney: Yes, good morning. Thanks very much for taking my questions. First, as you guys are thinking about your prior target to reach profitability in mega-trend areas in 2025, as you’re seeing some of the traditional OEMs revisit the rate of their ramps around EVs, including some in North America where you’ve disclosed wins, do you still think you can reach that profitability target in 2025, and if so, are you contemplating having to make some changes in order to still get there?
Swamy Kotagiri: Good morning Mark. Yes, when we talked about the mega-trend areas, it’s not purely electrification. Part of it is ADAS also and other products that are included in there. We will go through the customer changes in the road map, if any, as we are going through the plan right now, but I would say we have in some cases had, call it different business models which are kind of tied not–you know, completely tied to volumes, but I will give an example this year on one program where there was a change in volume, we had a commercial settlement. In some cases, we are looking at models where the capital inlay is put forward by the customer related to an EV program, so there are multiple ways we are looking at it to mitigate or minimize risk.
