RJ Scaringe: Yeah. Emmanuel, as you said, Standard pack has long been part of the strategy to have the three different battery pack sizes, and ultimately it helps us access the most price-sensitive customers. We pulled it into this quarter, really with the intent of answering what we were seeing as a real customer request, and a lot of our customers looking forward to that configuration. But we also are able to use this as a chance to really better understand the overall demand curve. And when we look at the different configurations that we offer, up until recently, we really had our — we had our large pack with Quad motor and then our Max pack. So, we were — we built out the high price side of our portfolio, but we hadn’t brought in the more affordable variants of R1.
And so, what we’re really encouraged by is not only the excitement around that for, as I said, our most price-sensitive customers, but the fact that it’s driving awareness, which somewhat may be not immediately obvious, but what it is driving is more demand for our Quad motor large pack as well. So, we’ve seen a step up in new orders for the Quad Large, which is supported by folks that are becoming aware of the vehicle or becoming aware of the brand, getting drawn in by Standard pack, but then recognizing that they’d actually be willing to pay for the upgrade in range or the upgrade in performance that comes with either the large pack or the Quad motor.
Emmanuel Rosner: Understood. And then as a follow-up, then staying on the topic of pricing. If I’m looking at your gross margin walk towards breakeven in the fourth quarter obviously, the only piece about pricing there is sort of like this adjacent revenue, and it’s a positive one. I don’t — is there any risk of a downside risk from pricing on existing vehicle? I mean, I’m thinking about specifically the introduction of the Standard pack. This is obviously cheaper than the vehicles you were selling before. And so, to a certain extent, all else equal, that would put some pressure on pricing. So any reason why that would not be part of the walk?
Claire McDonough: Emmanuel, as we think about the ASP lever throughout the course of the year, we’ll see fluctuations that will mirror our production ramp. So, we’ll start following our shutdown in Q2 with production of our Standard pack vehicles across the board. So, while you see higher ASPs in Q4 driven by a higher concentration of Max packs that were available in that period, you’ll see some fluctuations throughout the course of the year. But by the time we get to Q4 of next year, we’ll have that full suite of offerings as a whole that allows us to drive more equal levels of ASP on the R1 portfolio as a whole, which is embedded within that Q4 2024 bridge. And then, as I spoke about the increase from there is really driven by many of the non-vehicle revenue streams, which will be additive in aggregate as we’re servicing a larger car park within the market.
Emmanuel Rosner: Understood. Thank you.
Operator: Thank you. I would now like to turn the call back over to RJ for any closing remarks.
RJ Scaringe: Well, thanks, everyone, for spending the time with us today and the thoughtful questions and discussion we were able to have. We’re incredibly excited about the strength of customer excitement for our brand and for what we’re building as a company. And with that, looking forward to continue to make progress on our drive towards profitability as a business. And an important component of that is, of course, the unveiling and showing of our R2 product line, which we’ll be showing on March 7th. And that will embody a lot of the learnings we’ve talked about in the context of launching and ramping R1 in a product that we think really fits the market and really fits the largest segment of demand that’s available today. So, with that, thank you, everyone, for the time, and look forward to our next call.
Operator: Thank you for your participation. You may now disconnect.
