The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst
: Nice to see things are on track with Fab-2. Farhan, welcome to the team, and good luck in the role. And Ralph, good luck in your retirement. My
first question is, I wanted to check in on the smartphone announcements. I'd like to get a better understanding by what you mean with the term
engagements. I mean, do you have -- are these volume purchase agreements or is pricing set? Could these be for new form factors? And I guess,
should we think of these large batteries for smartphones as custom parts, or are you looking to standardize these parts?
Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst
: Great. Nice to see the interest there. Also, you mentioned that about your, I guess, confidence to get premium prices, and you mentioned that
there's a lot of investors asking about your ability to achieve that. Another thing we also hear from investors is how to think about your cost structure
vis-a-vis competitors in Asia. So I guess today, how should we think about the current Gen2 line with the current throughput, the current cost
structure around $50 million? As well as the current material set, how does that compare to high-volume competitors today? And maybe more
importantly, like what opportunities do you have in terms of driving down line costs, increasing throughput and material optimization in order to
close the gap with your high-volume competitors?
Question: George Gianarikas - Canaccord Genuity Corp., Research Division - Analyst
: First, maybe to focus on anything new that's happening with the EV opportunity. You specifically mentioned in the release of fast charging based
on the structure of the batteries you're building. So any update there would be appreciated.
Question: George Gianarikas - Canaccord Genuity Corp., Research Division - Analyst
: And maybe as a follow-up, just to focus on the capital structure. You lowered your capital needs for this year. Can you just sort of remind us what
2024 looks like and what the requirements will be for you over 12 to 24-month period?
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