Marc Bedard: Well, I mean, we’re very carefully managing the spend. I mean liquidity is top of mind for us, and we’re making sure we’re aligning the order book, I mean, with our spending. I mean, no doubt. And that’s the reason we’ve decided to go to 1.7 gigawatt hour at the battery factory, and same thing with respect to the CAPEX that we’re investing in Joliet. So yes, we’re being very, very careful about that. That being said, though, I mean going from 2,500 in Joliet to 5,000 units is a very minimal, let’s say, spending if we compare to everything we’ve been spending so far. Because everything is in place to get to 5,000, but we will carefully manage. And when we’re saying then like going from 2,500 to 5,000, doesn’t mean that we have to go from 2,500 to 5,000.
I mean there are steps that we will be taking through ramping up. So if we need to go higher than the 2,500, because we’re having a lot of success in getting all of those orders, we will be able to ramp up carefully in the CAPEX spend. So CAPEX and all those investments are always top of mind in everything we’re doing.
Dan Levy: Great, thank you. And then just as a follow-up, you were talking about supply constraints still as an issue. Maybe you could just provide a little more color on those underlying constraints and you said you’re taking action to mitigate that, what are those actions? Thank you.
Marc Bedard: I’m sorry, I didn’t get that…
Nicolas Brunet: The supply chain? Yes, well, that’s exactly what we’ve been doing in the last couple of years, Dan. I mean, we — one of the things we’ve been doing is the supplier redundancy, and it’s going very well. And also it’s kind of — it’s almost natural that supplier redundancy, especially with what we’re doing now, like we’re the only OEM on the school bus side with factories on both sides of the border. So we’re having suppliers on the U.S. side, we’re having suppliers on the Canadian side, but there’s nothing that prevent us from using one supplier in one country and using it on the other side. I mean, it’s need to be. So that’s one thing we’re doing. At some point also what we did, a little bit like — I don’t like to say overstocking, but this is a little bit what we’ve been doing in the past.
And I think it served us well. And one good example is the number of batteries we have now. 4,700 batteries, I mean, is great and the price also was fine. We did the same thing with some critical components as well. So that’s what we’ve been doing. Are we like out of the wood on all of those supply chain issues? Absolutely not. Can we manage and navigate through that? Yes. And we feel we’re getting better and better from one quarter to the other. Honestly, I feel that the worst is behind us, but we’re very well equipped for any other headwinds in this regard going forward. And we feel there will be headwinds in the supply chain. Supply chain crisis, I mean, obviously, we’ve been talking about the war also that mean impact — that’s been impacting all of us.
So there’s a war. There was a supply chain crisis for a lot of other reasons, including COVID and all of that. But I feel good that we’re well equipped to protect Lion and our customers in those difficult times.
Dan Levy: Okay. Thank you very much.
Marc Bedard: Thank you Dan.
Operator: The next question comes from Rupert Merer with National Bank. Please go ahead Rupert.
