We kind of set around — I believe around $40 something 1 million in the EV mobility and charging pipeline. The two wheeler, three wheeler is a good chunk of that. We will add more in the four wheelers now that this exclusivity is completed. We look forward to adding significantly and quickly more pipeline opportunities in the four wheeler segment as well.
Richard Shannon: Okay. That sounds good. Let’s hear a couple more questions from me. So you’re talking about U.S. Chips Act money here. And I think I missed some early, the full statements you made there, Primit. But I guess it seems like you would be looking for another partner here for manufacturing in the United States, I would presume. Since you’re targeting automotive, it’s always great to have multiple geographical splits of your manufacturing here. So I’m wondering if I’m kind of reading this right. And do you have kind of plans fairly far down the road or just exploring things and waiting till Chips Act money is awarded, or how would you help us think about what you’re viewing with that opportunity?
Primit Parikh: Yes. No, you got that right, Richard. It’s the manufacturing, the way we are looking at it is in two parts. First is, a direct kind of funding for Transphorm. That we are pursuing through this — it’s also part of Chips Act, but it’s a microelectronics commence program where there are centers of excellence in activity. These are more like — this sort of work more like DOD contracts. So we are part of couple of centers. Now of course, it remains to be seen if those centers themselves get funded. So this will be nice development funding for things like higher voltage, 1,200 volt GaN and some on the RF GaN Epi. Those are what we will get from that. The manufacturing expansion funding, yes, we are looking at a U.S. — potentially a U.S. partner for geographical impact, as you correctly said.
We are in initial discussion with a couple of companies. So beyond just the exploration stage, so now as just recently there was an announcement just earlier this week about our next phase. So we look forward to that, but that that will be with a partner, the manufacturing scale up and the microelectronics comments portion that will that is transformed directly on our own.
Richard Shannon: Got it. Okay. That makes sense. One last quick question for Cameron related to the rights offering and debt facility you talk about providing a runway. I think — I don’t know if you said all the way through or most of the way through fiscal 2025. Any way that you’d help quantify what kind of funding levels here you’re looking for in aggregate between those two?
Cameron McAulay: Sure. I mean, certainly, the rates issue is a $50 million rights issue. And what we’re looking at in terms of our non-dilutive asset backed debt is something in the kind of high single digit multimillion dollars. The second component will hinge on appraisal values and so on and so forth, Richard, but that’s the target. And that’s we’re hoping to get the combination of both of those giving us runway deep into fiscal 2025.
Richard Shannon: Okay. Fair enough. I think that is all for me. I’ll jump out of line, guys. Thank you.
Cameron McAulay: Thank you.
Operator: Thank you. [Operator Instructions] And we have a follow-up question from the line of David Williams of the Benchmark Company. Your question please, David.
David Williams: Hey, thanks. Yes, I just want to ask on the product revenue. You’ve guided that to be about flat sequentially. And just wondering if you’re seeing anything in terms of just the inventory digestion, if that’s mostly complete, you’re seeing more cautious stance from your customers. And then maybe just kind of if you’re seeing anything in China, if that’s improving or flat, just help around that would be helpful. Thanks.