So I can say with great confidence that Volvo’s on the same page here I want to make this a global – make this joint venture a global leader in HPDI, so there’ll be other OEMs, obviously, that we intend to take it to. And we’ll – there’s a number of them that we’re talking to already who looked at this product. So no hesitation in saying this is going to be well beyond just Volvo. But as Bill says, it’s really at the end of the day, the more product that we can move, the better pricing that all of the OEMs in Volvo, in particular, can enjoy. So spot on, this is a different model, but one that we’re well aligned with Volvo on.
Eric Stine: Okay, got it. That’s helpful. And then maybe just specific to Volvo. I mean, good to hear the color and thanks, Fordon the fact that you really just got a partial impact on the volume side from this new engine launch with HPDI and growth going forward. I mean, obviously, with the joint venture, you’re now going to have a much more motivated partner. Can you update on maybe Volvo’s geographic expansion plans? I know Canada was a spot that potentially might be a little easier to get into just from a regulatory perspective, but maybe Volvo is thinking about that as well.
Bill Larkin: I can take. There are – as we go through and we’re working on the business plan for the JV. And this is not – this is a long-term business plan. And in there, we’re looking at what are the opportunities, what are the various markets? Yes, we are predominantly in Europe today. There has been a few trucks that have been imported into Canada that are running around, but we are continuing to evaluate all the markets globally and where is the opportunity. And together with our partner, we will bake those into our business plan. So, yes, we are looking at every opportunity and making that assessment. Clearly, there are going to be opportunities in North America, but that’s – we are going to have to make an investment in the technology to bring that vehicle, to bring an application to North America, and that’s something that we will have to work together with our partner and ultimately allocate capital for the – and that’s one.
There is a lot of other opportunities out there that we will continue to evaluate with our partner. But again, as you mentioned, Eric, is we have got to motivate a partner now to make this as successful as possible.
Eric Stine: Okay. That’s great. I will take the rest offline. Thanks.
Tony Guglielmin: Thank you.
Operator: Thank you. Our next question comes from Sameer Joshi from H.C. Wainwright. Please go ahead. Your line is open.
Sameer Joshi: Yes. Good morning Tony and Bill. In terms of improving margins on the OEM business, can you give a little bit more insight into how the decisions on price increases are going? And also what if prices are increased, when should we see the impact of that on the gross margins going forward?
Bill Larkin: Okay. It was a little bit hard to hear. But – so improving margins in the OEM business, a big chunk of that is mix of where our revenues are generated, that’s one. As I mentioned, with the heavy-duty OEM, we did have quite a bit of engineering services revenue, which helped to improve margin. We are looking through our supply chain to, one, try to reduce costs and try to mitigate any potential future cost increases, but also having conversations with our customers about price increases. So, mix does have a big impact on that. Also, organizationally and operationally, we are looking internally at our operations, and we are taking steps to reduce our cost structure primarily in Europe, where a lot of our manufacturing activities are.
And we are also looking at where our – essentially our main section footprint, and we have done some consolidation of smaller operations into our existing facilities. So, we are tackling it from multiple angles, from the supply chain to internal production and delivering the product and then also product [ph], so that’s an ongoing effort.
