Swamy Kotagiri : Yes. I would say when we say it’s agnostic, I think also the content that we have had and continue to have remains, although it evolves a little bit in material process irrespective of the propulsion system. But an added addition to the product in that segment would be battery includes, right? As the electrification continues and we have the material mileage joining technologies as well as the asset base that has become a significant growth area. And we have seen that both in terms of wins of programs, but also you see the amount of investment we are making business that’s already been awarded. In some cases, it’s expanding the volumes of the business that has been awarded.
Michael Glen : Okay. And for that $900 million number, are you able to break that down across — how that splits across the various segments?
Swamy Kotagiri : I would say that $900 million is predominantly on the AV segment. As Pat talked about this area, whether it’s electrification or electronics and so on are more, call it, engineering intensive. When we talk about BES, it’s more capital intensive. But we also have to keep in mind that the asset base that we have, which is not program specific is an advantage for us, right? The new investments are related to the program specific once they come. And again, we follow the same philosophy of getting the right returns and looking at each of the programs.
Michael Glen : Yes. Okay. And the $11 billion of new business wins that you spoke about. So a, can you give some idea of how those spread across the various segments? And then as well, can you describe how the margin profile embedded in that $11 billion is different from what we’ve seen historically? Is it much lower on the front end of that versus what we’ve seen historically?
Swamy Kotagiri : Yes. I think as I said in my comments, I won’t get into breaking up $11 billion by product line, but I definitely have mentioned and will repeat, it’s across Magna. There is definitely an incremental business for the megatrend areas, and I talked about whether it’s eDrive, whether it’s battery inclusions, whether it’s driver monitoring systems and so on. And I just want to reiterate the business growth is always on the financial hurdles that we have followed before, which is return space, and the profile remains the same, right? So it is not a lower margins or lower hurdles financially. So I believe as we launch this business going forward, our returns profile and cash flow generation gets better.
Michael Glen: Okay. Thank you.
Operator: And there are no further questions on the line at this time. I’ll turn the presentation back to Swamy for any closing remarks.
Swamy Kotagiri : Thank you, Chris, and thanks, everyone, for listening into our call today. Industry conditions continue to be tough. We remain focused on controlling costs across the organization, improving underperforming operations and pursuing inflation recoveries from customers, all while executing our go-forward strategy. Enjoy, the rest of your day, and thanks for listening again.
Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your lines.
