Andres Sheppard: Got it. Okay. Thank you, Daniel. And maybe as a follow-up, was just wondering, this is a bit more of a macro question. Curious if you can maybe comment on what you are seeing from a supply chain disruptions obviously that’s been persistent in the industry over the last year or so, if not more? What kind of €“ what trends are you seeing in that supply chain? Do you expect those disruptions to continue, if so, to what extent? And what can kind of be put in place to try to mitigate some of those disruptions? Thank you.
Daniel Barel: Yes. And I think is one. Listen, macro is always a factor, right. In fact, it’s possible that if the macro was different, REE and basically the whole EV system would have seen a much faster, steeper growth. And that being said, based on our conversation with large customers, for example, we see obviously nothing that will derail the electrification of global delivery fleets. Luckily for us, our capital-light strategy and modular approach will allow us to flex our production quickly as adoption accelerates. And importantly, I mean we believe our modest cash burn compared to some of our other competitors will allow us to be one of the beneficiaries of this huge multi-decade trend. On the supply side, as we said, we have a steady supply chain where we are monitoring the disturbance within the supply chain, we are having multiple suppliers where it makes sense to make sure that we have ample supply to what we need.
We currently do not see a significant disturbance that we cannot change in that supply chain. But I think maybe, Josh, you want to add something on that?
Josh Tech: Yes. Thanks Daniel. Yes. I mean let’s look at it like this. I mean in the end, we are starting to build the first delivery vehicles, and we said we have ordered 25, set to 25 for this year, right. Obviously, those are small numbers in the grand scheme of things, so and as we ramp through the hundreds and thousands. So, we €“ in the near future, we see no issues at all with the supply. I mean €“ and hopefully, as we ramp through the thousands that the concerns alleviate even more from the industry.
Andres Sheppard: Wonderful. Thank you both. Congrats again on the quarter. I will pass it on. Thank you.
Daniel Barel: Thanks.
Operator: We will now take the next question. It comes from the line of Jeff Osborne from Cowen & Company. Please go ahead. Your line is open.
Jeff Osborne: Yes. Good morning Daniel. A couple of quick questions on my side. I was wondering if you could give us an update on the homologation progress of the Proxima and the P7-B, what you accomplished this quarter and what the outlook looks like over the next quarter or two quarters as you start deliveries in Q4?
Daniel Barel: Sure. I think Josh, do you want to take this, maybe and I will complete.
Josh Tech: Yes, sure. So, we are on track for homologation activities. As we said, we are looking to build our winter test vehicles and ship them up immediately, that’s happening soon, and then complete first our x-by-wire validation, and then completed by the rest of the vehicle. So, that’s slated for the second half of the year. So, we see no roadblocks doing that at the moment at all.
Jeff Osborne: And Josh, is that separately for the P7-B and the Proxima, or are you doing those concurrently?
Josh Tech: Well, the €“ if you think about it, the x-by-wire, it’s the same system, so we will do those concurrently. And then we do each chassis separately. So €“ but they are relatively on the same timeline. Both are set for the second half of the year to be completed.
