Maheep Mandloi : Got you. And then just on Freedom, is that exclusive? And could you just provide some more details on that relationship?
Zvi Lando : It’s not exclusive and there are many details, but unfortunately, I cannot elaborate on them.
Operator: And we’ll take our last question from Joseph Osha with Guggenheim Partners.
Joseph Osha : I made it. Two quick ones. First, Ronen, you issued sort of guidance in the past of the effect that each $0.01 move in the euro is worth about 50 basis points. Is that still a fair way of thinking about the business? And also, have we seen all of the benefits yet from the sharp Q4 move in the euro? Or is there perhaps some delay there, and we could see some of that still flowing through in Q1?
Ronen Faier : He, Joe. So first of all, the number usually is sometimes changing between quarters simply given the mix of Europe versus the United States. I would say that right way to look at it is to look at a, I would say, a range of 40 bps to 50 bps for every dollar spent against the euro. And again, usually, you see that Q4 is tending to be a little bit more U.S. trended than the usual. So 40 to 50 is the right number. When it comes to the overall exchange rate, actually, we saw a lower exchange rate — sorry, lower average exchange rate during Q4 compared to what we see today because when we have guided for the last quarter, and that was over about a month into the quarter. It was about $1 per EUR 1, and then the dollar jumped against — the euro just against the U.S. dollar, mostly in the last 1.5 months. So by definition, the average last quarter was lower than the levels that we see right now.
Joseph Osha : Okay. And so the idea of being that there should be some incremental benefit even if the euro remains flat now flowing through the financials in Q1, yes?
Ronen Faier : This is a correct statement. Yes.
Joseph Osha : Okay. And then just a quick unrelated follow-up. You’ve written down all of the goodwill in the EV drivetrain business you’re continuing to ship to Stellantis. But are there any plans to continue to invest in that business? Or should we think of it more as something that’s just kind of being run down. I’m curious what the plans are for investing in that business or not?
Zvi Lando : Yes. We are still — we still — we plan to continue and invest in this business, and we are engaged with multiple opportunities. But as I mentioned and as Ronen reflected in the financial comments, the scale and the rate at which we see this evolving is different and thus the write-off. But we are continuing to invest and are focused on the potential in this market.
Operator: And it does appear there are no further questions at this time. I would now like to turn it back to Zvi Lando for any closing remarks.
Zvi Lando : Thank you. Thank you, everyone, for joining us today. And in summary, we are pleased with the progress we’ve made this quarter and in 2022 on all operational metrics and are expecting an interesting 2023. Thank you.
Operator: This does conclude today’s program. Thank you for your participation. You may disconnect at any time, and have a wonderful evening.
