Proterra Inc. (NASDAQ:PTRA) Q4 2022 Earnings Call Transcript

Gareth Joyce: Yes. Thanks, Greg. We have a very healthy products architecture and product road map for our Powered business, for all of them. In fact, but clearly, for Powered as the electrification of the commercial vehicle market accelerates, we anticipate that new vehicles are starting to come to market now and are — many are in engineering as we speak, which means they hit the market somewhere between now and 24 months from now. That really tells you that the second half of the decade is where we see acceleration of this market. And so we’ve set ourselves up to be prepared to capitalize on an expanding market where more diverse technologies might be needed to address wider product segments. So it’s on our product architecture road map, and we continue to invest, as you see in our R&D environment.

We have a position of leadership with our technology, and we intend to keep that position of technology leadership because that is critical for our future growth plans. Having said that, we’re obviously also navigating cash consumption and our balance sheet. And so we’re sensitive to keeping the right balance in growth aspirations, setting ourselves up for the future and also managing a healthy balance sheet and income statement to continue to feed a path towards profitable growth.

Operator: We have no further questions. I would like to turn the call back over to management for closing remarks.

Gareth Joyce: Well, let me just thank everybody who joined the call today, we appreciate it sincerely. And we look forward to 2023, we have great aspirations for the continued growth of the organization and look forward to our next earnings call. Thank you for the time today.

Operator: This concludes today’s conference call. Thank you for your participation.